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Consumer Price Index (CPI)

The UK Consumer Price Index (CPI) is a measure of inflation that is calculated by the Office for National Statistics (ONS). It measures the change in the price of a basket of goods and services consumed by households in the UK.

The basket of goods and services is designed to be representative of the purchases made by the average household, and the weightings assigned to each item in the basket are intended to reflect the relative importance of that item in the average household's budget.

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