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The Consumer Prices Index (CPI) is the main measure of inflation. It is produced in line with international standards and is the measure used for the Bank of England’s 2% inflation target. The Retail Prices Index (RPI) is no longer classified as a National Statistic as the way it is calculated does not meet international standards. It is included here as it is well-known and is the longest running measure of inflation.

The CPI inflation rate was 10.1% in July 2022, up from 9.4% in June. This is the highest rate on record, and the ONS estimates it is now higher than at any time since around 1982.

The RPI inflation rate was 12.3% in July 2022, up from 11.8% in June.

There was an increase in the CPI rate in most categories, food being by far the largest. There was also a large increase in prices for recreation and culture and hospitality.


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