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

  • Ian Crawford
  • Isabella Image

Published on 27 March 2004

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.

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http://onlinelibrary.wiley.com/doi/10.1111/j.1475-5890.2004.tb00097.x/abstract 

<p>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.</p>

Authors

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Ian Crawford

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Isabella Image

Journal article details

ISSN
Print: 0143-5671 Online: 1475-5890
JEL
C4, D12
Issue
March 2004

Suggested citation

Crawford, I and Image, I. (2004). 'The Retail Price Index and the Cost-of-Living Index: testing for consistency in theory and practice' (2004)

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