| The price of the television licence is linked to the consumer price index which means that any increase has implications for inflation. |
| Right now, benefits are set by a complex formula when a person first retires, and then are adjusted for inflation using the consumer price index. |
| But the principal value is adjusted twice a year to reflect inflation, as measured by increases in the consumer price index. |
| It also announced a new mechanism that appeared to link the licence fee to the consumer price index. |
| In the present U.S. system, benefits after retirement are indexed to the consumer price index. |
| Salary increases for the same period last year averaged 8 per cent against the consumer price index of 5.6 per cent. |
