Inflation move could hit elderly

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Changes to the way a key measure of inflation are calculated could be announced today amid fears of a “stealth attack” on pensioners.

The Office for National Statistics (ONS) will announce the results of a review of the Retail Prices Index (RPI) as it looks at ways to reduce the gap with the official Consumer Prices Index (CPI) measure of inflation.

Any move to change RPI calculations would have far-reaching implications, with RPI linked to a wide variety of services and investments.