- Helping members of occupational pension schemes to better understand their benefits.

18th July 2019
:: Statistics | RPI inflation from 1948 to 2008

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RPI inflation from 1948 to 2008
Any detailed pension planning will include future assumptions for inflation. Unfortunately, inflation is notoriously difficult to control and even more difficult to predict.
The Bank of England's website states that 'The Bank's monetary policy objective is to deliver price stability – low inflation – and, subject to that, to support the Government’s economic objectives including those for growth and employment. Price stability is defined by the Government’s inflation target of 2%. The remit recognises the role of price stability in achieving economic stability more generally, and in providing the right conditions for sustainable growth in output and employment. The Government's inflation target is announced each year by the Chancellor of the Exchequer in the annual Budget statement.' 
The following graph show Retail Price Index inflation (RPI) since the end of the Second World War.
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Source: Office for National Statistics. Crown Copyright 2009

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