 John Redwood, the Conservative MP, has said that CPI targeting meant that interest rates were set lower at a time of rising (RPI) inflation.Nevertheless, following the UK general election of May 2010 the incoming conservative chancellor George Osborne announced that CPI was to be more widely adopted, including for setting benefits and pensions.In January 2013 the Office for National Statistics announced its conclusion that the RPI did not meet international standards and it is no longer formally ranked as a UK 'National Statistic'.