National Statistics Online - Articles - Price levels in 2000 for London and the regions compared with the national average
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Price levels in 2000 for London and the regions compared with the national average
Prices in London and other regions of the UK relative to the national average for the year 2000.
The article shows prices in London and other regions of the UK relative to the national average for the year 2000 and shows London to be more expensive for most categories of goods and services. The article also finds that compared to the national average:
London prices were, on average, 6.8 per cent more expensive; Goods in London were on average of 2.6 per cent more expensive; Services in London were, on average, 13.0 per cent more expensive; Prices in the South West were closest to the UK average; Services in London showed big price variations from the national average. These ranged from -29 per cent for local bus fares to +54 per cent for rented property; As well as London, the South East and East regions are more expensive than the UK average; The cheapest regions are the North East and Wales where average prices are 4.7 per cent and 3.8 per cent respectively below the national average; Price disparities between the regions were much greater for services than goods; Data on price differentials between the national average and London are used to put together figures on the UK’s Purchasing Power Parity (PPP) and these in turn are used by Eurostat, the European Office for Statistics, to compare Gross Domestic Product (GDP) between countries. PPP figures enable GDP estimates to be converted into a "common" currency so allowing more meaningful comparisons of GDP per head and GDP levels.
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