This article sets out the impact of implementing an improvement in the Consumer Prices Index including owner occupiers’ housing costs (CPIH; the lead measure of inflation in the UK), the Consumer Prices Index (CPI) and their supplementary indices.
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Impact of inclusion of additional price quotes on Consumer Prices Indices
This article sets out the impact of implementing an improvement in the Consumer Prices Index including owner occupiers’ housing costs (CPIH; the lead measure of inflation in the UK), the Consumer Prices Index (CPI) and their supplementary indices.
The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics.
Designation can be broadly interpreted to mean that the statistics:
- meet identified user needs
- are well explained and readily accessible
- are produced according to sound methods
- are managed impartially and objectively in the public interest
Once statistics have been designated as National Statistics it is a statutory requirement that the Code of Practice shall continue to be observed.