Glossary Term: Retail Price Index
Acronym: RPI
The Retail Price Index is the general index of retail prices published by the Office for National Statistics.
BSC defined definition
Means the general index of retail prices published by the Office for National Statistics each month in respect of all items provided that if:
- (i) the index for any month in any year shall not have been published on or before the last day of the third month after such month; or
- (ii) there is a Material Change in the basis of the index, the Panel shall agree a substitute index for such month or (as the case may be) a substitute index