retail price index
noun [ C, usually singular ]
ECONOMICS ukus( abbreviation RPI)in the UK, a list of the prices of some basic goods and services, showing how they change over time, as a way of measuring inflation:
Interest payments are increased in line with changes in the retail price index.
The retail price index was up 3.6% from a year earlier.
the retail price index increases/decreases The Retail Price Index (RPI) increased by 0.4% in May to an annual rate of 2.8%.
See also
consumer price index
cost of living index