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Consumer Prices Index and Retail Prices Index: Updating Weights for 2005
Details of weights used in 2005 to compile the Consumer Prices Index (CPI) and the Retail Prices Index (RPI)
The Consumer Prices Index (CPI) and the Retail Prices Index (RPI) measure the changes from month to month in the cost of a representative ‘basket’ of goods and services bought by consumers within the United Kingdom. This involves weighting together price changes in the indices according to household spending patterns for different categories of goods and services so that each takes it’s appropriate share. At the beginning of each year the weights used to compile both the CPI and RPI are updated using the latest available information on household spending. This article describes the sources for these weights, explains why weights are important and provides a brief explanation of the main changes to these weights between 2004 and 2005.
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