It’s that time of year when the ONS updates its famous ‘Basket of Goods and Services’. This time around there’s some notable additions and removals, which once again help to underline changing consumer purchasing behaviour.
Read more on Basket of Goods 2019 – measuring inflation and tracking changing consumer trends
The monthly UK consumer prices release is one of our most closely-watched outputs. Not least by the Governor of the Bank of England who must explain to the Chancellor when inflation misses its target. Now the long history of UK prices measurement is the subject of a new book charting the development of its complex methodologies and the people and institutions behind them. As co-author and ONS Methodologist Dr Jeff Ralph explains, it all began with a handful of pioneers and visionaries.
Read more on The inflation story – history of prices measurement told for the first time in new book
New figures using the lead CPIH index show how inflation has impacted different groups from retired and working age households to those with or without children. Below, ONS Economist Tanya Flower looks at the history of inflation as well as the different approaches to measuring changing prices and how they affect different people.
Read more on Whose inflation is it anyway?
Jonathan Athow explains the reason behind the latest changes and why CPIH is the most comprehensive measure of inflation.
Read more on Measuring inflation – what’s changed and why?