LORDS

Experts questioned on benefits and challenges of RPI

18 June 2018

The Economic Affairs Committee continues its inquiry into the use of RPI by questioning witnesses on the benefits and challenges of using RPI as a measure of inflation and the impact that the use of RPI has had on rail fares, student loans and pension funds.

Witnesses

Tuesday 19 June in Committee Room 1, Palace of Westminster

At 3.35pm

  • Simon Briscoe, consultant on statistical matters
  • David Lloyd, Head of Institutional Portfolio Management, M&G Investments
  • Dr Geoff Tily, Senior Economist , Trade Unions Congress (TUC)

Likely questions

  • Is RPI an "inadequate measure" of inflation?
  • Is it necessary to have more than one measure of inflation? Is it common across other countries to maintain different indices?
  • As public sector pension schemes and the state pension are uprated by CPI, and the vast majority of private pension schemes by RPI, is this confusing for people? Is this a legal lottery for pensioners?
  • To what extent did the change to clothing price collection in 2010 create an undeserved windfall for holders of index-linked gilts?
  • Should the Government stop using RPI to increase rail fares and as the measure of inflation for student loans?
  • What action would you like to see the statistical authorities, and the Government, take on inflation indices?

Further information

Image: iStockphoto

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