Bank of England Deputy Governor to give evidence to Economic Affairs Committee

He will be contributing to the Committee's inquiry into the use of the retail price index (RPI) as a measure of inflation.

Questions likely to be covered by the Committee in this session at 3.35pm include:

• Is the consumer price index (CPI) a good measure of general household inflation?
• The Governor of the Bank of England told the Committee in January that the way housing costs were implemented in the RPI was a known error with the index. Why is this the case?
• Does the Bank of England accept that different price indices are required for macroeconomic purposes and cost of living purposes?
• Which of the household cost indices being developed is the best solution for a cost of living index?
• What is the role of the Bank of England in determining whether a change to RPI would be materially detrimental to the interests of gilt holders and the factors which the Bank would take into account?

This evidence session, which is open to the public, will start at 3.35pm on Tuesday 9 October in Committee Room 1 of the House of Lords.