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The Retail Price Index and the Cost-of-Living Index: testing for consistency in theory and practice

Ian Crawford and Isabella Image

Fiscal Studies, 2004, vol. 25, issue 1, 79-91

Abstract: 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.

JEL-codes: C4 D12 (search for similar items in EconPapers)
Date: 2004
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Handle: RePEc:ifs:fistud:v:25:y:2004:i:1:p:79-91