Economic Indicators20 hours ago (Apr 16, 2020 01:50PM ET)
(C) Reuters. Digital coronavirus outbreak presser in London
LONDON (Reuters) – Britain’s government will delay until August a consultation to decide when it should fix a flawed measure of inflation, the retail price index, finance minister Rishi Sunak said in a letter published on Thursday.
“The consultation will now close for responses on 21 August – subject to coronavirus-related developments,” Sunak said.
More than a quarter of British government bonds, worth around 450 billion pounds ($559.94 billion), are linked to the Retail Prices Index which runs higher than other measures of inflation, meaning investors receive an estimated windfall of 1 billion pounds a year.
UK delays consultation on reform to flawed inflation measure
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