Price indices and the measurement of inflation
Our National Statistics Advisory Group (NSAG) leads our policy work in this area.
Most recently, NSAG have engaged with the UK Statistics Authority and the Treasury around their plans to align the Retail Prices Index (RPI) with the Consumer Price Index including housing (CPIH). The RSS hosted an open meeting to discuss the issue in July 2020 and submitted a consultation response, strongly disagreeing with the plans.
This 2018 paper sets out the Society's position on the RPI – this fundamentally remains our view.
The RSS has made many other policy contributions regarding inflation measurement in the recent past, including a 2018 event, 'The Future of the RPI', and a 2015 paper by Jill Leyland and John Astin, 'Towards a Household Inflation Index'.