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English definition of “retail price index”

retail price index

noun [C, usually singular]
 
 
( abbreviation RPI) ECONOMICS
in the UK, a list of the prices of some basic goods and services, showing how they change over time, as a way of measuring inflation: Interest payments are increased in line with changes in the retail price index. The retail price index was up 3.6% from a year earlier.the retail price index increases/decreases The Retail Price Index (RPI) increased by 0.4% in May to an annual rate of 2.8%. → See also consumer price index, cost of living index
(Definition of retail price index from the Cambridge Business English Dictionary © Cambridge University Press)
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