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UK Inflation Measured (How ONS construct the Consumer Price Index) Infographic

CONSUMER PRICES INDEX (CPI) WHAT IT IS, HOW IT WORKS, CHANGES IN MARCH 2016 THE CPI IS THE INFLATION MEASURE USED IN THE UK GOVERNMENT'S TARGET FOR INFLATION MEASURING THE COST OF A LARGE RANGE OF GOODS AND SERVICES COLLECTED TOGETHER IN A BASKET TO REPRESENT A TYPICAL PERSON'S CONSUMPTION WHAT GOES INTO THE BASKET? EACH MONTH A SAMPLE OF: 700 GOODS & SERVICES in 20,000 SHOPS, OUTLETS & INTERNET RETAILERS at 150 LOCATIONS ITEMS IN THE BASKET ARE GROUPED INTO 12 CPI'DIVISIONS'& GIVEN WEIGHTS OF IMPORTANCE THESE ARE ADJUSTED TO REFLECT OBSERVED CHANGES IN: CONSUMER BEHAVIOUR NEWER TECHNOLOGIES WIDER ECONOMIC CHANGE HOW WE LIVE OVER TIME % of CPI WEIGHT 2016 20 15 10 SPECIFIC ITEMS ARE ADDED, REPLACED OR REMOVED ANNUALLY THE BASKET TRACKS CHANGES UK CONSUMER BEHAVIOUR LEMONS COFFEE PODS NAIL VARNISH IN 2016 9 NEW ITEMS 5 REPLACED SOFTWARE DOWNLOADS DVDS GLOSS PAINT ORGANIC CARROTS NIGHTCLUB ENTRY FEES OUT 2016 7 REMOVED 7 REPLACED DVD UK5 LATEST CPI INFLATION RATE (FEBRUARY 2016) = 0.3% CHART SHOWING VARYING % CHANGE IN THE CONSUMER PRICES INDEX FEB 2006 - FEB 2016 For more info: Office for National Statistics publication http://bit.ly/CPlchange2016 East West Infographics © East West Infographics 2016 @ewinfographics CONSUMER PRICES INDEX (% CHANGE) SOURCE: ONS ITEMS INCLUDE FEB 2006 FOOD & DRINKS ALCOHOL & TOBACCO FEB 2007 CLOTHING & FOOTWARE HOUSING& HOUSEHOLD SERVICES FURNITURE &HOUSEHOLD GOODS HEALTH RELATED TRANSPORT COMMUNICATION FEB 2008 FEB 2009 RECREATION & CULTURE EDUCATION FEB 2010 RESTAURANTS & HOTELS MISC, GOODS & SERVICES FEB 2011 FEB 2012 FEB 2013 FEB 2014 FEB 2015 ITEMS INCLUDE FEB 2016

UK Inflation Measured (How ONS construct the Consumer Price Index) Infographic

shared by ewinfographics on Apr 09
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Economic / data infographic how the UK measures inflation through the Consumer Price Index (includes Office for National Statistics data for 10 yrs to 2016)

Publisher

East West Infographics

Category

Economy
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