Chancellor Philip Hammond has said he would be happy to hear about reforming the Retail Prices Index (RPI) as long as the Office of National Statistics (ONS) initiates discussions.
Speaking to a House of Lords committee on 11 September, Hammond (pictured) said he would consider allowing an amendment to the oft-derided inflation measure, which the government dropped for payouts in 2011. However, any such discussions would need to be started by the statistical authority before he could give the go-ahead, but so far "they have not initiated any such discussions with me", he said. "I have had no such approach but I am sure that the ONS, should it wish to do so, would find its way to my office relatively easily and I'd be very happy to hear from them if they wished t...
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