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inflation_measures
[discount_rates_problem] [long_term] [historic_returns] [inflation_measures]

As CPI and CPIH don’t have such long records, I have used RPI for general inflation. For wages, I have used the ONS Whole Economy Earnings Index, specifically MD9M (until Dec 1999) and KAB9 (after Dec 1999). During the 1970s and 1980s, it was quite common to assume that long-term wages growth would exceed long-term RPI growth by around 1.5% pa. More recently, the gap has been somewhat lower but that could easily change over the next few years.

InflationUK_Since1964