Improving the Quality of Regional Economic Indicators : Regional Consumer Prices

Connolly, Kevin and Spowage, Mairi (2021) Improving the Quality of Regional Economic Indicators : Regional Consumer Prices. Discussion paper. Economic Statistics Centre of Excellence, London.

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Building on previous work this paper provides updated prices and inflation estimates for the twelve NUTS-1 regions of the UK. One key issue previously noted when moving to regional prices estimates is the reduction in LCFS sample size leading to unstable weights. In this paper, we investigate the data sources to produce regional expenditure estimates, attempting to increase the accuracy of CPIH estimates. The primary focus is on the Regional Household Final Consumption Expenditure measure (HFCE) publication for use as estimates for regional expenditure weights. While we were able to update the UK regional CPIH estimates to 2020 using other data sources we still encounter similar problems to Dawber and Smith (2017), with the small sample size of the price databases being problematic for the calculation of CPIH indices.