Consumer Prices Index and Retail Prices Index: the 2011 basket of goods and services
AbstractSummaryThe ‘shopping baskets’ of items used in compiling the Consumer Prices Index (CPI) and Retail Prices Index (RPI) are reviewed each year. Some items are taken out of the baskets and some are brought in to make sure the CPI and RPI are up to date and representative of consumer spending patterns. This article describes the review process, explains how and why the various items in the CPI and RPI baskets are chosen, and discusses the main changes to the contents of the CPI and RPI baskets for 2011 from the 2010 price collection. Similar articles have been published in previous years. This article also describes one other change relating to the way in which prices of seasonal items are measured in the CPI and RPI.
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Bibliographic InfoArticle provided by Palgrave Macmillan in its journal Economic & Labour Market Review.
Volume (Year): 5 (2011)
Issue (Month): 4 (April)
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Web page: http://www.palgrave-journals.com/
Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
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