Property News · December 7, 2017

RPI no longer fit for deciding rail fare rises | Letters


Hetah Shah of the Royal Statistical Society says that people’s incomes and outgoings should both be linked to a single index, CPI, which commands ‘national statistic’ status and is credible for uprating purposesThe shadow transport secretary, Andy McDonald, is on the right tracks. The annual rises in rail fares should be decoupled from the retail prices index (RPI), as he argued in his Guardian article (This hefty train fare rise is yet another Tory betrayal of passengers, theguardian.com, 5 December).The Royal Statistical Society (RSS) has long believed that the RPI should be declared redundant for such uprating purposes. Significantly, our view is shared by both the national statistician and the chair of the UK Statistics Authority, who told MPs, only last month, that he “deprecates” RPI being used in this way. Continue reading…

Source : theguardian.com
Read more…RPI no longer fit for deciding rail fare rises | Letters

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