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CPI and RPI: the 2008 basket of goods and services

Author

Listed:
  • Damon Wingfield

    (Office for National Statistics)

  • Philip Gooding

    (Office for National Statistics)

Abstract

Describes the annual review process and explains how and why the various items in the basket are chosenAs part of a process of continual improvement, and to help ensure that the consumer prices index (CPI) and retail prices index (RPI) are representative of consumer spending patterns, the items that are priced in compiling the indices are reviewed each year. This article describes the review process and explains how and why the various items in the CPI and RPI baskets are chosen. The contents of the CPI and RPI baskets for 2008 are summarised in Annexes A and B of the full article, which can be downloaded from the National Statistics website at www.statistics.gov.uk/cci/article.asp?id=1951The main changes from the 2007 price collection are discussed. Similar articles have been published in previous years. This article also describes two changes to the methodology used to compile the CPI and RPI. These relate to the measurement of gas and electricity, and fresh fruit and vegetable prices. Economic & Labour Market Review (2008) 2, 25–31; doi:10.1057/elmr.2008.55

Suggested Citation

  • Damon Wingfield & Philip Gooding, 2008. "CPI and RPI: the 2008 basket of goods and services," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 2(4), pages 25-31, April.
    • Handle: RePEc:pal:ecolmr:v:2:y:2008:i:4:p:25-31
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    Cited by:

    1. Matthijs R. Wildenbeest, 2011. "An empirical model of search with vertically differentiated products," RAND Journal of Economics, RAND Corporation, vol. 42(4), pages 729-757, December.

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