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A representation of the comments received in response to our paper "Developing an Index of Household Payments" and the main points that have been raised. Our next steps regarding future development of this work are also provided.
This article explains the improvements to UK data sources and methods used in the calculation of Purchasing Power Parities (PPP).
CPIH is a version of CPI that includes the cost of owning, maintaining and living in one's home, this element is known as the owner occupied housing cost (OOH). This paper aims to inform users of the quality of administrative data used in OOH, due to its high impact on CPIH.
This article contains information about the users and uses of consumer price inflation statistics and user experiences of these statistics. In addition, it provides information on the characteristics of the different measures of consumer price inflation in relation to potential use, which may vary depending on the population of interest to the users and the way the indices are compiled. The last section covers the history of the indices. Users can use this information to help inform their own decision making in regards to which index is most suitable for their particular purpose.
This paper sets out the impact of implementing two improvements in the Consumer Prices Index (CPI; the headline measure of inflation in the UK), CPI including owner-occupiers’ housing costs (CPIH), and their supplementary indices. These changes will not be applied to the Retail Prices Index (RPI). They are planned for March 2017. The first change is designed to improve the way that chain-linking is conducted, and is the result of an independent report on the double chain link; the second is the implementation of an additional level of detail (level 5, or ECOICOP) in the Classification Of Individual Consumption by Purpose (COICOP) structure. As the CPI is identical to the Harmonised Index of Consumer Prices (HICP), these improvements will also help us to better meet EU regulations.
We have started to explore the concepts and feasibility of producing an index that measures changes to the cost of payments made by households. This paper aims to set out discussion points for the development of an "Index of Household Payments" and seeks feedback from users regarding their views on the required purpose and scope of the index, and its underlying methodology.
