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RPI tracks price changes for everyday household items.
RPI uses 1987 as its base year with an index of 100.
CPI excludes mortgage payments; RPI includes them.
CPI uses 2015 as its base year with an index of 100.
Use: (New value - Old value) / Old value x 100.
Cost = (Index value in target year / Base year index) x Cost.
Prices have increased by 10% since the base year.
CPI adjusts benefits, tax credits, and pensions in the UK.
Set up: Index1/Index2 = Value1/Value2, solve for unknown.
Convert to the same base year and calculate percentage changes.
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