The Future of the Retail Prices Index (RPI)
Wednesday 13 June 2018, 06:00pm
Location Royal Statistical Society, 12 Errol Street, London EC1Y 8LX (An alternative venue may be used if demand requires it)
The Royal Statistical Society will be staging an early evening meeting to discuss 'The Future of the Retail Prices Index (RPI)'.
We are delighted that this discussion will be started by the UK's National Statistician (John Pullinger CStat).
A limited number of speaking slots, from the lectern, will be available for those who have particular expertise in RPI-related issues and who would like to follow John Pullinger in addressing the meeting. If you are interested in contributing to the discussion in this way, please email firstname.lastname@example.org as soon as possible; thank you.
Further details about the event, and how you can get involved in this important debate, will be sent asap to all those who register below.
Those who are unable to attend the meeting itself but still interested in contributing, via a written submission, are also asked to email email@example.com (Please note that this meeting will be recorded and written contributions will be published on the RSS website.)
Please arrive at around 5.45pm when refreshments will be available and there will be post-meeting drinks to continue the discussion
Organiser Name Iain Wilton
Email Address firstname.lastname@example.org
Organising Group(s) Royal Statistical Society
Thank you, Tony. Sorry, I won't be able to attend the meeting but I added two files related to it to the Library.
Please see below links, provided by Louise Whatham, Policy and Research Manager at the Royal Statistical Society, to the 13th June RSS event, "The Future of the Retail Prices Index (RPI)"
1. Link to the video from the 13th of June RPI evening event:
2. Link to the website with the written submissions received so far:
Contrary to popular belief, quality improvement usually causes a downward bias in a price index rather than an upward bias. As long as precisely the same item is available, its price wil be collected. Suppose that it is now replaced by a new, higher quality product at a higher price. Usually, part of the price rise is genuinely due to a quality improvement and part is an actual price rise. It is assumed by critics that the change of quality is ignored and the price change wrongly recorded in full. In fact, it is more likely that the price change will be attributed entirely to quality improvement, although this is rarely correct.