Entry from British & World English dictionary
Definition of retail price index in English:
(In the UK) an index of the variation in the prices of retail goods and other items.
- The change will not affect the payment of benefits, which will continue to be indexed to the retail price index.
- A student loan starts accruing interest from the moment it is borrowed, but the interest rate is pegged to the retail price index.
- What's more, house-price growth has easily outstripped inflation (rising prices) elsewhere, with the core retail price index up only 28% over the past ten years.
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