The ‘shopping baskets’ of items used in compiling the various measures of consumer price inflation are reviewed each year. Some items are taken out of the baskets and some are brought in to make sure the measures are up to date and representative of consumer spending patterns.
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Philip Gooding
The 'shopping basket' of items making up the suite of consumer price inflation indices (CPI, CPIH, RPIJ & RPI) are reviewed every year. This article describes the review process and explains how and why the various items in the inflation baskets are chosen.
