Both the CPIH and CPI baskets contain some items excluded from the Retail Prices Index (RPI) basket such as university accommodation fees and unit trust commissions. Similarly, the RPI basket contains some items (for example, estate agent fees) that are excluded from the CPIH and CPI baskets.
What is included in the basket of goods?
A basket of goods represents consumer spending and is used to track changes in the prices of consumer goods and services over time.
What is included in UK RPI?
The RPI includes an element of housing costs, whereas the following items are not included in the CPI: Council tax, mortgage interest payments, house depreciation, buildings insurance, ground rent, solar PV feed in tariffs and other house purchase cost such as estate agents’ and conveyancing fees.
What is included in CPI basket UK?
Representative items
| Observed variation in price changes¹ | ||
|---|---|---|
| 1 | Food and non-alcoholic beverages | Medium |
| 2 | Alcohol and tobacco | Low |
| 3 | Clothing and footwear | Medium |
| 4 | Housing and household services | Low |
What is in the inflation basket South Africa?
The CPI basket was revised in January of 2013. The annual inflation rate in South Africa rose to 5.9% in March of 2022, from 5.7% in the prior month and slightly below market expectations of 6%.
What is in the basket of goods 2021?
Additions to the baskets for 2021 include electric and hybrid cars, hand hygiene gel, men’s loungewear bottoms and smartwatches. Removals from the baskets include staff restaurant sandwiches and gold chains.
How many items are there in CPI basket?
Currently, the consumer price index (CPI) is calculated by taking into consideration 299 items.
What is the RPI for 2021?
The Office for National Statistics (ONS) has published[1] inflation rates for the year to December 2021. The Retail Prices Index (RPI) increased to 7.5%, a 0.4% increase from 7.1% for the year to November 2021.
What is not included in CPI basket?
Not included in the CPI are the spending patterns of people living in rural nonmetropolitan areas, those in farm households, people in the Armed Forces, and those in institutions, such as prisons and mental hospitals.
What is the RPI for December 2021?
In December 2021, the annual rate of inflation as measured by the RPI was 2.59 per cent, up from the 2.38 per cent in November 2021 (Table 2).
How many products are in the UK basket of goods?
Our spending patterns have changed considerably over time, but as the ONS basket of goods becomes ever more diverse (it now contains over 750 items), its breadth and variety should remind us that while the Government’s published inflation rate shows how prices are rising overall, everyone’s experience of the rising
Is electricity included in CPI?
The Consumer Price Index for household energy is a component of the fuels and utilities index, which is in the housing major group of the Consumer Price Index (CPI).
What is the CPI for 2021 South Africa?
Headline consumer price index (CPI for all urban areas)
Annual consumer price inflation was 3,2% in March 2021, up from 2,9% in February 2021.
What is the difference between CPI and CPIX?
The CPI measures changes in transaction prices, i.e. prices actually paid when purchasing goods or services”. CPIX is “is the CPI excluding interest rates on mortgage bonds.
Who benefits from high levels of inflation?
Inflation allows borrowers to pay lenders back with money worth less than when it was originally borrowed, which benefits borrowers. When inflation causes higher prices, the demand for credit increases, raising interest rates, which benefits lenders.
What is the difference between CPI and RPI?
CPI measures the weighted average prices of the basket of goods and services consumed by households. RPI is a measure of consumer inflation that considers the changes in the retail prices of a basket of goods and services.
How many items are in a WPI basket?
Calculation. The wholesale price index (WPI) is based on the wholesale price of a few relevant commodities of over 240 commodities available.
Is petrol included in CPI?
A brief history of Automotive fuel in the CPI
Automotive fuel has been included in the CPI since the series was first produced in 1948. Automotive fuel was initially part of the Fuel and light sub-group within the Household supplies and equipment group in the CPI.
What are the components of Consumer Price Index?
The CPI is like your shopping basket. The new CPI has five sub-groups including food and beverages, fuel and light, housing and clothing, bedding and footwear. The weightages differ for the rural and urban baskets. For example, the urban basket has a much higher weightage to housing related items.
What is the RPI September 2021?
RPI inflation was 4.9% in September 2021 (Index: 308.6), up from 4.8% in the year to August 2021.
What is the RPI increase for 2022?
RPI inflation was 7.8% in January 2022 (Index: 317.7), up from 7.5% in the year to December 2021.
