Publication title: CPI and RPI Basket of Goods and Services
Department: Office for National Statistics The 'shopping basket' of items making up the Consumer Prices Index (CPI) and Retail Prices Index (RPI) are reviewed every year. Some items are taken out of the basket, some are brought in, to reflect changes in the market and to make sure the CPI and RPI are up to date and representative of consumer spending patterns. This article describes the review process and explains how and why the various items in the CPI and RPI baskets are chosen.
Publication title: CPI and RPI Index: Updating Weights
Department: Office for National Statistics 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 UK. 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 its 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.
Publication title: International Comparison of the Formula Effect Between the CPI and RPI
Department: Office for National Statistics There are a number of differences between the Consumer Prices Index (CPI) and Retail Prices Index (RPI), including their coverage, population base, commodity measurement and methods of construction. Combined, these differences have meant that, for most of its history, the CPI has been lower than the RPI. One of the main reasons to this difference is the method of construction at the lowest level, where different formulae are used in the CPI and RPI to combine individual prices. This difference is usually referred to as the formula effect. This article will investigate similar formula effects present in the inflation measures of other countries, and where necessary will attempt to explain why the magnitude of the formula effect experienced by other countries differs from that of the UK.
Department: Office for National Statistics Contains price indices, percentage changes and weights for the Consumer Prices Index (CPI), Retail Prices Index (RPI) and the components that make up these indices. Internationally, the CPI is known as the Harmonised Index of Consumer Prices (HICP)
Publication title: Modelling a Back Series for the Consumer Price Index
Department: Office for National Statistics The release includes an article which presents a method used to estimate a CPI series back to 1950. In addition the estimated series are provided at the all-items and two-digit CPI levels.
Publication title: Consumer Price Indices - Technical Manual
Department: Office for National Statistics Covers the concepts underpinning the indices, differences between CPI and RPI, the methodologies used, collection and validation of prices, calculation of weights, and publication and usage of the different indices.
Publication title: The reconcilliation of the differences between the Consumer Price Index and the Implied Price Deflator
Department: Office for National Statistics The Consumer Prices Index (CPI) is the preferred measure of inflation used in the application of monetary policy by the Bank of England. Within the System of National Accounts, and subsequently the ESA, the preferred measure of inflation is the Implied Price Deflator (IPD). Historically, the indices have behaved broadly similar, however since around 2007 Q4 the divergence in the indices has increased and become more volatile. The plan for this article is to cover the conceptual and scope differences between the CPI and Household Final Consumption Expenditure Implied Price Deflator. There will be an empirical analysis on how and why the two indices differ over time.
Publication title: Estimated Effect of the Budget on Consumer Prices Index and Retail Prices Index
Department: Office for National Statistics The purpose of this article is to give the estimated effects on the Consumer Prices Index and Retail Prices Index resulting from duty and taxation changes announced in the Budget.
This article is simply a helpful guide to users of the CPI and RPI. The Office for National Statistics (ONS) accepts no liability whatsoever for losses of any kind arising as a result of reliance on this note.
Summary: The Producer Price Index (PPI) measures the price changes of goods bought and sold by UK manufacturers. The Services Producer Price Index (SPPI) measures the price changes of services provided by UK businesses to other businesses and government. The SPPI is an experimental index.
Publication title: Abstract of Statistics for Benefits, National Insurance Contributions, and Indices of Prices and Earnings
Department: Work and Pensions A compendium publication of benefit rates, RPI, AEI and benefit expenditure. The content has been revised for the 2009 edition.