Improving price level data for different household groups

Randolph, Hannah and Spowage, Mairi and Gillan, Brodie and Nippler, Grant (2024) Improving price level data for different household groups. University of Strathclyde, Glasgow. (https://uksa.statisticsauthority.gov.uk/wp-content...)

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Abstract

This paper was commissioned by ONS to explore options for updating the Household Costs Indices (HCIs) to reflect different prices paid for the same or similar goods by different types of households. We focus primarily on goods prices, which account for 51% of the CPI basket; further methods of dealing with variation in prices paid for the same or similar services across household types are left for future research. The paper explores existing approaches taken in other countries and in the academic literature, then reviews types of data available that may link household characteristics to information about prices paid for specific types of goods. The paper concludes by summarising potential methods for incorporating different prices paid for the same or similar goods into the HCIs.

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