![]() ![]() Spending on non-discretionary items (goods or services purchased because they meet a basic need, like food, shelter or healthcare) is less likely to stop if prices increase or if incomes fall, as consumers cannot avoid or delay spending on these essential items. We have recently produced inflation rates for discretionary and non-discretionary spending, adding to our understanding of different households' experiences. We are carrying out this work with ONS' Data Science Campus. We will achieve this by using prices sent to us directly from retailer checkouts and other data suppliers.Īs part of a project to develop real-time indicators of economic activity, we are investigating the potential use of data scraped from supermarket websites to track the price of everyday grocery items over the last 18 months. ![]() However, we are currently developing plans to increase the number of price points each month from 180,000 to hundreds of millions. The current inflation basket measures the changing price of over 700 specific items that are representative of the average household's spending habits. Looking ahead, we are transforming the way we measure prices to understand peoples' spending patterns in a more detailed and timely manner. Using alternative data sources: scanner, admin, and web-scraped data Detail of these enhancements are outlined below. In the blog post, we explain the challenges of measuring everyone's cost of living, and how some important new enhancements will provide a clearer picture in the future. We are developing our measures of prices, which we outlined in a recent blog post, Measuring the changing prices and costs faced by households. The Household Cost Indices (HCIs) reflect the change in costs and prices as experienced by different household groups. The CPI and CPIH are macro-economic measures that reflect the change in prices for goods and services bought or consumed across all UK households. Consumer price inflation is measured using a basket of goods and services to capture different types of consumption.Ĭonsumer price inflation consists of the Consumer Prices Index (CPI) and the Consumer Prices Index including owner occupiers' housing costs (CPIH). The ONS' consumer price inflation bulletins measure the impact of changes to the price of goods and services bought by households on a monthly basis. We will provide an update in approximately three months from the date of publishing on progress against the strands of work outlined below, as well as any new priorities. This work plan is under constant review to take account of the nature of the evolving situation, and we will adapt it if new or urgent requirements emerge. This article outlines the analytical work we are undertaking related to the cost of living. ![]() Through the wide range of data we have available, and developments in how we gather and analyse it, we will continue to ensure our evidence provides clear insights and impacts of the rising cost of living. The Office for National Statistics (ONS) is committed to providing evidence and analysis to central government, devolved administrations and the public about the impact these factors are having across the population. For many, this has meant having to make decisions about how they spend their income, and how this affects their standard of living. This rise, which includes the cost of energy, has meant many UK citizens are seeing an impact on their cost of living. Consumer price inflation has continued to rise to its highest level in almost 30 years. Since late 2021, the UK has experienced several changes to contributory factors leading to rising costs for individuals and businesses. ![]()
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