This Palgrave Pivot reviews the history of the UK's Retail Prices Index (RPI) from its origins just after the Second World War to its controversial position today. Both the developments in the methodology of the index and the political and social context in which its development took place are closely examined. The authors explain how the RPI went from being the dominant measure of inflation for decades to its current position as an officially discredited index. Despite this status, it is still widely used and attracts much support from a range of stakeholders, including several areas of government. Important reading for anyone interested in both sides of the argument for and against RPI and the likely way forward for the measurement of inflation.

The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.

The Consumer Price Index Manual: Concepts and Methods contains comprehensive information and explanations on compiling a consumer price index (CPI). The Manual provides an overview of the methods and practices national statistical offices (NSOs) should consider when making decisions on how to deal with the various problems in the compilation of a CPI. The chapters cover many topics. They elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. The primary purpose of the Manual is to assist countries in producing CPIs that reflect internationally recommended methods and practices.