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Release: Consumer Price Indices, November 2012

Released: 18 December 2012 Next edition: 15 January 2013

Contact

Philip Gooding

Prices

cpi@ons.gsi.gov.uk

Telephone: +44 (0)1633 456900

Categories: Economy, Prices, Output and Productivity, Price Indices and Inflation, Consumer Price Indices, Consumer Prices Index, Retail Prices Index

Frequency of release: Monthly

Language: English

Geographical coverage: UK

Geographical breakdown: Country

  • The Consumer Prices Index (CPI) annual inflation stands at 2.7 per cent in November 2012, unchanged from October. Although unchanged overall, at a more detailed level, there were significant upward and downward pressures on CPI annual inflation between October and November.

  • The largest upward pressures to annual inflation came from food & non-alcoholic beverages (principally bread & cereals and vegetables) and housing & household services (particularly domestic gas and electricity). The largest downward pressures came from motor fuels and furniture, household equipment & maintenance. The CPI stands at 124.4 in November 2012 based on 2005=100.

  • The Retail Prices Index (RPI) annual inflation stands at 3.0 per cent in November 2012, down from 3.2 per cent in October. The largest downward pressures behind the change in the RPI rate came from motoring expenditure, housing and household goods. These were partially offset by an upward pressure from food. The RPI stands at 245.6 in November 2012 based on January 1987 = 100.

  • On 8 October, the National Statistician launched a consultation inviting views on options for amending the way the RPI is constructed at the lowest level of aggregation. The consultation also included a proposal to change the way private housing rental prices are measured in the RPI and CPI through the use of a new data source. For more details see the consultation page. The consultation closed on 30 November and a timetable for the decision process published on 11 December.

  • On 2 November, the ONS announced that a new additional measure of consumer price inflation will be launched which includes owner occupiers’ housing (OOH) costs. The new index, which will initially be known as CPIH, will measure OOH costs using the rental equivalence method. This method uses changes in rental prices to measure the costs of owning, living in and maintaining a property. CPIH will be introduced in March 2013 at the same time as the annual CPI/RPI basket of goods and services is updated. ONS published its full response to the public consultation on OOH on 13 November 2012.

  • In September 2012, the Consumer Prices Advisory Committee recommended that ONS included Council Tax in the coverage of new additional measure of consumer price inflation (CPIH) when it is launched in March 2013.  The National Statistician recognises that there are competing arguments for and against its inclusion and has asked ONS to review these, taking additional time particularly to understand the international perspective, in discussions with Eurostat. Council Tax therefore will not be included in CPIH when it is launched. Eurostat has decided that Council Tax should not be included in the Harmonised Index of Consumer Prices (HICP), which is the UK's CPI. Council Tax is already included in the RPI.

The Consumer Price Indices dataset contains percentage changes and weights for the Consumer Prices Index (CPI), Retail Prices Index (RPI) and the components that make up these indices. Internationally, the CPI is known as the Harmonised Index of Consumer Prices (HICP).

CPI and RPI Reference Tables, November 2012: (1.28 Mb Excel sheet) This spreadsheet pulls together the numerous tables that were previously published in the old style Consumer Price Indices Statistical Bulletin and Focus on Consumer Prices publication. A correlation index is included to show the old and new naming conventions and where the tables were previously published for example: RPI All items 1947 -2011 or RP02 & Table 4.1 in Focus is now the new Table 20.

Personal Inflation Calculator (PIC): This interactive application allows you to enter your own spending patterns to generate a personal inflation figure. (Note - requires an SVG-enabled web browser, such as Firefox, Safari or Chrome). Further information on the PIC, including how the calculator works and how to calculate your personal inflation rate, can be found in the article ‘The Personal Inflation Calculator’ on the Labour and Market Review (476.1 Kb Pdf) web page.

Further information on the CPI and RPI: Includes details of the methodology used to construct the indices, brief and quick guides to inflation and articles on various aspects of the CPI and RPI.

Consumer Prices Advisory Committee (CPAC) Homepage: This page contains links to CPAC papers covering a range of topical consumer price statistics research including the inclusion of owner occupiers' housing costs into the CPI.

These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.

Content from the Office for National Statistics.
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