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Inflation — experience and perceptions

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  • Jim O'Donoghue

    (Office for National Statistics)

Abstract

Explores why it might be that individuals— personal inflation rates are different from the official rates published by the Office for National Statistics.Individuals sometimes comment that their personal inflation rates are different from the official rates published by the Office for National Statistics. This article explores why this might be. It starts by explaining what the retail prices index (RPI) is andhow it is constructed. It then examines how individuals— personal experiences of inflation might vary according to their spending patterns. Finally, the article looks at how perceptions of inflation rates might vary by how frequently goods and servicesare bought. Economic & Labour Market Review (2007) 1, 33–39; doi:10.1057/palgrave.elmr.1410009

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  • Jim O'Donoghue, 2007. "Inflation — experience and perceptions," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 1(1), pages 33-39, January.
    • Handle: RePEc:pal:ecolmr:v:1:y:2007:i:1:p:33-39
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