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RPI - 2021 latest value

including Budgets
scotview
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RPI - 2021 latest value

#415198

Postby scotview » May 26th, 2021, 7:22 am

Could someone advise on the latest and most accurate 2021 RPI value. Does it include or exclude food inflation ?

Many thanks

yorkshirelad1
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Re: RPI - 2021 latest value

#415249

Postby yorkshirelad1 » May 26th, 2021, 10:35 am

scotview wrote:Could someone advise on the latest and most accurate 2021 RPI value. Does it include or exclude food inflation ?

Many thanks


This might be a good place to start?
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/previousReleases

mc2fool
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Re: RPI - 2021 latest value

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Postby mc2fool » May 26th, 2021, 10:35 am


ursaminortaur
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Re: RPI - 2021 latest value

#415300

Postby ursaminortaur » May 26th, 2021, 2:00 pm

scotview wrote:Could someone advise on the latest and most accurate 2021 RPI value. Does it include or exclude food inflation ?

Many thanks



https://en.wikipedia.org/wiki/Retail_Price_Index#Calculation

The United Kingdom RPI is constructed as follows:

A base year or starting point is chosen. This becomes the standard against which price changes are measured.
A list of items bought by an average family is drawn up. This is facilitated by the Living Costs and Food Survey.
A set of weights are calculated, showing the relative importance of the items in the average family budget – the greater the share of the average household bill, the greater the weight.
The price of each item is multiplied by the weight given to the item, so that the contribution of the item's price is in proportion to its importance.
The price of each item must be found in both the base year and the year of comparison (or month).

This enables the percentage change to be calculated over the desired time period.


https://en.wikipedia.org/wiki/Living_Costs_and_Food_Survey

And for details of the history of RPI for different foods see

https://www.ons.gov.uk/search?q=RPI+food


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