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RIP RPI

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polymaffpolymaff Forumite
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The latest balanced approach to reporting inflation:
"... as the majority of users have not moved away from using the RPI as anticipated ..."
Don't let your misreading of reality redirect your mission, ONS.!!



Replies

  • bowlhead99bowlhead99 Forumite
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    Perhaps you're doing the misreading? I don't see what is particularly unbalanced but maybe I misunderstand your point.

    Are you perhaps inferring that they were anticipating that people would just stop using it on their own - but as the people haven't this has taken them by surprise and they now plan to address the shortcomings?

    Rather than what they are saying is, as anticipated, people have not stopped using it because it is still used for index-linked bonds, commercial leases etc and new contracts are still being written with it due to familiarity etc, so they are going to address the shortcomings by changing the calculation method at some point between 2025 (earliest government said they'd consider changing it) and 2030 (maturity of the last index-linked gilt which has an explicit compensation clause to lenders if the basis for RPI is changed)
  • eskbankereskbanker Forumite
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    polymaff said:
    "... as the majority of users have not moved away from using the RPI as anticipated ..."
    Always irritating to see careless phrasing used in any documents (especially 'official' ones) - to me this wording is ambiguous in its construction and could be read that they did anticipate users moving away from RPI (the majority of users have not 'moved away from using the RPI as anticipated') or the exact opposite (as anticipated, the majority of users have not moved away from using the RPI).
  • RG2015RG2015 Forumite
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    eskbanker said:
    polymaff said:
    "... as the majority of users have not moved away from using the RPI as anticipated ..."
    Always irritating to see careless phrasing used in any documents (especially 'official' ones) - to me this wording is ambiguous in its construction and could be read that they did anticipate users moving away from RPI (the majority of users have not 'moved away from using the RPI as anticipated') or the exact opposite (as anticipated, the majority of users have not moved away from using the RPI).
    Worthy of a modern day Machiavelli.
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