Pound Little Changed Versus Dollar as RPI Formula Left Unchanged

The pound was little changed against the dollar and euro after National Statistician Jil Matheson said the U.K. should maintain its current approach to calculating its retail price index.

Sterling traded at $1.6016 as of 7:06 a.m. London time. It was also little changed at 81.51 pence.

The statistics office will develop a new inflation index known as RPIJ to address an issue with the measurement of clothing prices in the RPI, the Office for National Statistics said in London today.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net