Every month the Office for National Statistics (ONS) publishes a range of indices called the Consumer Prices Index including owner occupiers’ housing costs (CPIH) as a measure of UK inflation for goods and services. Kantar TNS UK has been the data collection partner of ONS for the CPI since 1994 and this data is combined with additional data collected by ONS and then used to generate the monthly CPI. The key stakeholders are HM Treasury and the Bank of England.
What is the CPIH?
CPIH is a new measure of inflation from the ONS. CPIH is a CPI-based measure of inflation that also includes the costs associated with owning, maintaining and living in one's own home, known as owner occupiers' housing costs, along with council tax. As such CPIH is the most comprehensive measure of consumer inflation.
Previously known as the CPI which is the measure of consumer price inflation produced to international standards and in line with European regulations, the CPI is the inflation measure used in the government’s target for inflation. The CPI is also used for purposes such as uprating pensions, wages and benefits and can aid in the understanding of inflation on family budgets. For more information see Users and uses of consumer price inflation statistics.
What is Kantar TNS’s role?
Each month, price collectors record about 100,000 prices for over 550 items consisting of specified types of goods and services. The Kantar TNS price collectors carry out price collection on behalf of the ONS, visiting a variety of shops in around 150 locations throughout the UK. Most local shops are visited in person to collect prices, although some work is done by telephone. The price collectors go to the same shops each month, noting the prices of the same products, so that over time they compare "like with like". The reliability of the index depends very much on retailers’ goodwill. The information collected is treated with the strictest confidence, and no data relating to individual retailers or businesses is ever divulged or passed on to a third party. There are also a number of goods and services where it is more efficient for the ONS to obtain prices centrally i.e. football admissions, water supply, newspapers and rail fares, which are used for the CPI and other measures.
Please find below the latest ONS press releases:
13 June 2017
16 MAY 2017
|11 APRIL 2017||UK CONSUMER PRICE INFLATION: MARCH 2017|
|21 MARCH 2017||UK CONSUMER PRICE INFLATION: FEBRUARY 2017|
|14 FEBRUARY 2017||UK COSUMER PRICE INFLATION: JANUARY 2017|