Dr Andrew Murrison:
To ask Mr Chancellor of the Exchequer, if he will make it his policy to
reflect house prices in the calculation of inflation.
Simon Kirby: Inflation statistics are produced independently
of government by the Office for National Statistics (ONS). The current main
measure of inflation is CPI. This does not include house prices as these are an
asset price and in line with international practice are not included in a
consumer price index. However, it does include some costs associated with housing,
such as rental prices and the costs of renovating and repair and maintenance of
homes. The ONS also produces CPIH, which does include housing costs but is currently
undergoing development work after the UK Statistics Authority found faults in its
production.
No comments:
Post a Comment