May 6, 2020 / 6:43 AM / 25 days ago

UK statistics office says RPI changes do not need government approval

LONDON, May 6 (Reuters) - Britain’s statistics office said coronavirus-related changes to the way it calculates the Retail Price Index, which underpins payments on the country’s inflation-linked government bonds, will not require government approval.

The Office for National Statistics said it had shared its plans with the Bank of England which had determined that the temporary changes did not fundamentally alter the basic RPI calculation and materially hurt index-linked gilt investors.

“As a result, the Chancellor’s consent is not required to implement these temporary changes,” the ONS said, referring to British finance minister Rishi Sunak.

Writing by William Schomberg, editing by Louise Heavens

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below