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Release: Consumer Price Indices, October 2012

Released: 13 November 2012 Next edition: 18 December 2012

Contact

Richard Campbell

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 October 2012, up from 2.2 per cent in September. The main upward pressure came from the education sector (university tuition fees) with smaller upward contributions from food & non-alcoholic beverages and transport. These were partially offset by downward pressures from the housing & household services, recreation and miscellaneous goods & services sectors. The CPI stands at 124.2 in October 2012 based on 2005=100

  • The Retail Prices Index (RPI) annual inflation stands at 3.2 per cent in October 2012, up from 2.6 per cent in September. The largest upward pressure came from university tuition fees, followed by food and housing. Fuel & light provided the largest downward pressure. The RPI stands at 245.6 in October 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 includes 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. The consultation closes on 30 November. For more details (including how to respond) see the consultation page 

  • 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 review. ONS published its full response to the public consultation on OOH on 13 November 2012

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, October 2012: (1.29 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 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.
© Crown Copyright applies unless otherwise stated.