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Written question asked by Lord Barnett (Labour), in the House of Lords. It was answered by Lord Sassoon (Conservative) on Thursday, 22 July 2010.

Price Indexes

Question
To ask Her Majesty’s Government what forecast they have made of the gap between the Consumer Price Index and the Retail Prices Index over the next five years.
Answer

The independent Office for Budget Responsibility (OBR) have published their forecast for RPI and CPI inflation in the fourth quarter of each year up to 2015 in Annex C of the Budget document. The relevant part of Table C2 is reproduced below. Extract from Table C2: Detailed summary of central economic forecast

Forecast (Percentage change on a year earlier)
2009 2010 2011 2012 2013 2014 2015
CPI (Q4) 2.1 2.7 2.4 1.9 2.0 2.0 2.0
RPI (Q4) 0.6 3.7 3.2 3.2 3.3 3.4 3.5

Secondary information

Type
Written question
Reference
1337; 720 c250WA
Session
2010-12
Subjects
Inflation Retail prices index Consumer prices index
Contains statistics
Yes
Link
View this Written question on www.publications.parliament.uk