Discover the value of your entire pension pot now.

Get Pension Audit Sheet
Oaklands Details

0121 355 4455
info@oaklandswealth.com
12A Duke Street
Sutton Coldfield
West Midlands
B72 1RJ

Oaklands Wealth Management Ltd

JARGON BUSTER: Measures of Inflation

Measures of inflation are used by the Government to calculate levels of savings interest, state pension and benefits rates, business rates and to influence many other policy decisions.

As consumers it gives us all insight as to how rising prices will affect our investments and spending patterns in the short to medium term.

The Rate of Inflation is the change in prices for goods and services over time. The 2 main measures of Inflation used in the UK are CPI and RPI.

The average change is measured from month-to-month in the prices of consumer goods and services which make up both these indices.

  1. Retail Price Index – RPI

RPI includes items which are removed from the CPI basket (see below), including estate agent fees, mortgage interest payments, buildings insurance costs and the cost of the TV licence.

As the RPI was held not to meet international statistical standards, since 2013 the Office for National Statistics no longer classifies it as a “national statistic”, emphasising the  Consumer Prices Index instead.

However, the UK Treasury still uses the RPI measure of inflation for various index-linked tax rises and benefits. As a measure of inflation, it has been in usage since 1947 so allows for comparisons over time.

  1. Consumer Price Index – CPI

Consumer price indices are compiled using a large and representative sample of over 700 goods and services, and their price movements are regularly measured in approximately 20,000 outlets within the UK.

The items on the index are updated annually to reflect changes in consumer spending patterns. It’s particularly interesting to note the trends over the last two years.

In the update in 2021, 17 items were added including electric and hybrid cars, hand hygiene gel, men’s loungewear bottoms and smartwatches. And 10 items were removed including staff restaurant sandwiches and gold chains.

Additions to the update in 2022, included meat-free sausages, canned pulses, sports bras, pet collars and antibacterial surface wipes. Items removed this year included doughnuts, men’s suits and coal.

Interested in finding out more?

Seeking a second opinion on your financial future costs you nothing.

Simply call our friendly team on 00121 368 5624 or drop us an email to appointments@oaklandswealth.com to arrange a confidential chat.

Oaklands Wealth Management, founded by Helen Blackburn in 2004 advises clients around the Midlands on retirement planning, pensions & investments.

Her firm holds British Standard BS 8577 for client service & investment process.

Minimum investment is £500,000 (£650,000 for pension transfers).

IMAGINE YOUR PENSION & SAVINGS 100% UNDER CONTROL…
Arrange a chat

Similar articles

OUR INDEPENDENT FINANCIAL ADVISORS

Click to view profileHelen Blackburn IFA Pension Transfer Specialist
Click to view profileNick Hampton Investment Advisor

THINKING OF MOVING FROM YOUR EXISTING ADVISOR?

It’s easy to move on from another advisor.
We’ll handle everything.

All that’s needed is for you to sign some letters of authorisation and we’ll do the rest.

None of your investments will be switched into new funds until you’ve agreed with our recommendations and you’re fully happy with any changes we propose.

Schedule a chat

7 KEY FEATURES OF THE OAKLANDS WEALTH MANAGEMENT SERVICE

British Standard BS 8577 Awarded Service

12 Month Money Back Service Guarantee

Lifetime Cashflow Planning

Risk Adjusted Personal Investment Portfolio

ISO 222222 Certified Financial Advisors

Monthly Fund Analysis

2 Investment Portfolio Reviews Per Year

A WORD FROM OUR CLIENTS...

“After great dissatisfaction with the service of major high street banking group I approached Oaklands to manage my pension and investment portfolio. They have provided sound advice on pre- retirement planning and achieved a good return on our capital as well now in retirement. The service offered by Helen and the team at Oaklands is second to none.”

Peter Worral

A WORD FROM OUR CLIENTS...

“Upon leaving Rolls-Royce after 26 years, I wanted to transfer my pension into an investment fund but find anything investment related a ‘black art’. Helen reviewed my circumstances and risk profile to develop my portfolio. Every Oaklands’ team member I’ve seen is an established professional and I would recommend Helen and her team in a heartbeat.”

Ian Foster

A FRIEND FOR YOUR FINANCIAL JOURNEY...

THIS IS NOT A DIY SERVICE – WE TAKE FULL RESPONSIBILITY FOR SETTING UP YOUR PENSIONS AND SAVINGS. FOR LIFE.

No half measures. We don’t set it up then leave you all at sea. We manage your investments ongoing and hold ourselves accountable for steering you through your financial journey.

This phrase came from a client who said that’s exactly what we felt like to him, he said “you are like a friend or good neighbour who’s always got my best interests at heart.”

Whatever the reason you come to us we care. We really care. Like it’s our own money.

Tidying up bit and bobs of pensions and putting them neatly in a pot you have full control over.

Maybe transferring a final salary pension if your objectives are better met with your own pension.

Making sure you get all the tax efficiencies legally available to you to enhance your money.

Pointing the microscope on 3,000+ funds and finding the best ones to secure your retirement.

Get in touch
FEES
FEES
Find out more
OUR TEAM
OUR TEAM
Find out more
CLIENT JOURNEY
CLIENT JOURNEY
Find out more
ACCREDITATIONS
ACCREDITATIONS
Find out more