(14 Sep 2023, 8:24 pm)Malarkey wrote I'm confused regarding this statement.
Go North East business director, Ben Maxfield, said, “The two most talked about inflation measures, CPI and RPI are currently running at 6.4% and 9.0% respectively. Our offer of 9.11% beats both these figures and means our driver pay package will be among the very best in the region.
When CPI and RPI =15.4% combined as i'm sure are meant to be calculated together, how does Go North East's offer of 9.11% beat both of the figures stated as it looks to me like they are only going off of CPI.
They are different measures of inflation, not separate. RPI is effectively an upper limit measure of inflation.
RPI includes some of the aspects of CPI, but also includes aspects relating to house prices.