Britain announces new inflation measure

UK chancellor Gordon Brown announced to parliament on Wednesday 10 December that Britain will in future use the harmonised index of consumer prices (HICP) to measure inflation. The new measure, which is already used by the European Central Bank, aims to smooth the way for possible adoption of the euro.

Source: EU business

Britain is to replace its preferred measure of inflation with the European Union-standard harmonised index of consumer prices (HICP), Chancellor of the Exchequer Gordon Brown

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