The authors are grateful to Adrian Ball, Laura Blow, Anna Brueton, David Fenwick and Jack Triplett for helpful comments and advice. They are also grateful to two anonymous referees and the Editor Gareth Myles for their comments and suggestions on an earlier draft. Financial support for Ian Crawford from the Leverhulme Trust via the Centre for Microdata Methods and Practice and from the Economic and Social Research Council (ESRC) via the IFS Centre for the Microeconomic Analysis of Public Policy, and for Isabella Image from the Office for National Statistics (ONS) sanctioned by Adrian Ball and David Fenwick, is gratefully acknowledged. Material from the Family Expenditure Survey made available by the ONS through the ESRC Data Archive has been used by permission of the Controller of HMSO. Neither the ONS nor the ESRC Data Archive bears responsibility for the analysis or the interpretation of the data reported here. The views expressed here are those of the authors and not of the Office for National Statistics nor of the Institute for Fiscal Studies, which has no corporate view. The authors are responsible for all errors.
The Retail Price Index and the Cost-of-Living Index: testing for consistency in theory and practice
Version of Record online: 2 FEB 2005
Volume 25, Issue 1, pages 79–91, March 2004
How to Cite
Crawford, I. and Image, I. (2004), The Retail Price Index and the Cost-of-Living Index: testing for consistency in theory and practice. Fiscal Studies, 25: 79–91. doi: 10.1111/j.1475-5890.2004.tb00097.x
- Issue online: 2 FEB 2005
- Version of Record online: 2 FEB 2005
- consumer economics;
- cost of living;
This paper tests the published section-level price and weight data used in the compilation of the UK retail price index (RPI) for consistency with the theory of the cost-of-living index. We use a non-parametric test of theoretical consistency and bootstrap statistical methods to estimate the probability of consistency.