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Consumer Prices Index and Retail Prices Index: The 2006 Basket of

Consumer Prices Index and Retail Prices Index: The 2006 Basket of-2025

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The document outlines the review process for the Consumer Prices Index (CPI) and Retail Prices Index (RPI) in the UK, detailing how items are selected for the annual basket of goods and services. It explains the methodology behind price collection, including representative items and adjustments for quality changes. The 2006 basket is summarized, highlighting new additions and removals to reflect changing consumer spending patterns. The document emphasizes the importance of maintaining a representative sample to accurately measure inflation and consumer price changes.

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What was the inflation rate in 2006?

The inflation rate in 2006 was 3.23%. The current inflation rate compared to the end of last year is now 2.35%. If this number holds, $7,900 today will be equivalent in buying power to $8,086.04 next year. The current inflation rate page gives more detail on the latest inflation rates.

What is the consumer price index CPI basket?

A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. It is calculated as the weighted average price of a market basket of consumer goods and services.

What was the Consumer Price Index in 2006?

The average Consumer Price Index (CPI) in 2006 stood at 143.0, increasing by 0.7% from the average CPI in 2005.

What is the Consumer Price Index and retail price index?

It measures the change in the cost of a representative sample of retail goods and services. As the RPI was held not to meet international statistical standards, since 2013, the Office for National Statistics no longer classifies it as a national statistic, emphasising the Consumer Price Index instead.

What was the CPI in 2000 to 2025?

Core inflation averaged 2.37% per year between 2000 and 2025 (vs all-CPI inflation of 2.53%), for an inflation total of 79.75%.

What is the value of the price index for 2006?

About the Bank YearAnnual Average CPI(-U)Annual Percent Change (rate of inflation) 2006 201.6 3.2% 2007 207.3 2.9% 2008 215.3 3.8% 2009 214.5 -0.4%109 more rows

What is a basket in terms of CPI?

A basket of goods in economics is a representative collection of items used to measure changes in the cost of living and inflation over time. It includes various goods and services that are commonly consumed by households, such as food, housing, transportation, and healthcare.

What was the CPI in August 2007?

The headline CPI annual inflation rate at August 2007 was 6,7%. The annual change in CPIX, the monetary policy inflation target measure, was 6,3% at August 2007. The headline inflation rate (year-on-year) was 0,3 of a percentage point lower than the 7,0% recorded at July 2007.

Consumer Prices Index and Retail Prices Index: The 2006 Basket of-2025

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