New measure of inflation to reflect housing costs

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by Gill Montia

The Office for National Statistics (ONS) is inviting views on the method for reflecting owner occupiers’ housing costs in a new additional measure of consumer price inflation.

The move follows a recommendation from the Consumer Prices Advisory Committee and once established over time, the ONS is proposing that the new measure (currently referred to as CPIH) will become the main focus of its reporting on consumer price inflation in the UK.

A consultation period closes on 31st August 2012.