retail price index
- noun an index which shows how prices of consumer goods have increased or decreased over a period of time.
- noun an index showing how prices of consumer goods have increased or decreased over a period of time. In the UK, the RPI is calculated on a series of essential goods and services. It includes both VAT and mortgage interest. The US equivalent is the Consumer price Index.
- (written as Retail Price Index)A UK economic indicator released by the Office of National Statistics on a monthly basis that measures price changes of goods and services bought by individuals for consumption. If the UK Retail Price Index (RPI) rises more than expected, it tends to have a positive effect on the Pound Sterling in the forex market.