Meaning of “retail price index” in the English Dictionary

british dictionary

"retail price index" in Business English

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retail price indexnoun [ C, usually singular ]

uk us 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%.

(Definition of “retail price index” from the Cambridge Business English Dictionary © Cambridge University Press)

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