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To ask Mr Chancellor of the Exchequer, if he will review the methodology for adjusting for quality improvements in the calculation of the retail price index; and if he will make a statement; what research his Department has undertaken on the matter of hedonic price indices; and if he will...

Asked by

Ed Davey (Liberal Democrat)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

7 November 2000

For answer on

30 November 2000

Answered on

30 November 2000

Mr. Edward Davey: To ask the Chancellor of the Exchequer (1) if he will review the methodology for adjusting for quality improvements in the calculation of the Retail Prices Index; and if he will make a statement; [137865] (2) what research his Department has undertaken on the matter of hedonic price indices; and if he will make a statement. [137864] Miss Melanie Johnson: The information requested falls within the responsibility of the National Statistician. I have asked him to reply. Letter from John Pullinger to Mr. Edward Davey, dated 30 November 2000: The National Statistician has been asked to reply to your recent questions on the methodology for adjusting for quality improvements in the Retail Price Index (RPI) (137865) and hedonic price indices (137864). I am replying in his absence. The Office for National Statistics (ONS) does not currently use hedonic regression techniques to correct for changes in quality of new goods in the RPI sample. However, changes in quality are allowed for in two ways. Firstly, explicitly using option costs for computers. In this case the actual costs of individual changes of specification in the computer are recorded, and 50 per cent of this cost is applied to the price of an item as the value of the quality change. Secondly, for all other items, we make an implicit adjustment. In this case when a new item is selected during price collection, to replace an item no longer available, any price change, above that seen in other goods of this type, is assumed to be related to quality changes. However the ONS is actively participating in discussions about which methods are most appropriate for quality adjusting price indices. As part of the ongoing methodological research programme for the RPI, the ONS is looking closely at the question of adjustments for quality changes in new goods introduced into the index, whether these be improvements or reductions in quality. This work involves a technical assessment of the current methodology used in the RPI, comparing this with practices in other countries and evaluating which methodology is most appropriate for the UK. As part of this work we are examining techniques either used by other National Statistics Offices, or recommended by academics, to see if they are of potential use in the UK. In particular, we are looking at whether the hedonic regression techniques adopted in the USA, and other countries, would be suitable for the UK, both theoretically and practically. The research will not, necessarily, recommend a single quality adjustment technique, but rather may recommend different solutions for different product groups. This work is taking place in close collaboration with Eurostat, other National Statistical Offices, and the academic community to ensure that results are based on a strong foundation, and can be used to allow International comparisons to be made. The results will also be taken into account in the work on methodological improvements for the Producer Price Index (PPI). This work is progressing, and the results will be published when reliable conclusions have been reached.

Date

30 November 2000

Reference

357 c937-8W; 137865;137864

House

House of Commons

Treasury;Office for National Statistics

To ask Mr Chancellor of the Exchequer, if he will list for the period which determined the changes in the rate of the state pension, the annual movement in (a) the RPI and (b) the Pensioner Price Indices in each of the last five years; when the items included in...

Asked by

George Turner (Labour)

Answering body

Office for National Statistics

Type

Written questions

Status

Answered

Tabled on

23 November 2000

For answer on

30 November 2000

Answered on

30 November 2000

Dr. George Turner: To ask the Chancellor of the Exchequer (1) if he will list for the period which determined the changes in the rate of the state pension, the annual movement in (a) the RPI and (b) the Pensioner Price Indices in each of the last five years; [140671] (2) when the items included in the Pensioner Price Indices were last reviewed; [140672] (3) what steps he has taken to ensure that the items included within the Pensioner Price Indices reflect the needs of the average pensioner. [140673] Miss Melanie Johnson: The information requested falls within the responsibility of the National Statistician. I have asked him to reply. Letter from Len Cook to Mr. George Turner, dated 30 November 2000: As National Statistician, I have been asked to reply to your three recent questions asking: 1) for the annual movement in (a) the RPI and (b) the Pensioner Price Indices in each of the last five years, for the period which determined the changes in the rate of the state pension; 2) when items included in the Pensioner Price Indices were last reviewed; and 3) what steps have been taken to ensure that the items included within the Pensioner Price Indices reflect the needs of the average pensioner. In response to question one, it is the annual percentage increase in the September RPI that is used to uprate state pensions. The Pensioner Prices Indices are only published quarterly so I have chosen to list figures for the third quarter, that is the quarter July to September. Pensioner Indices are only calculated for one person pensioner households and two person pensioner households. _________________________________________________________________________________________________. Percentage annual increase in RPI One pensioner household Two pensioner household Year ending September to September Q3-Q3 Q3-Q3 1996 2.1 2.2 2.5 1997 3.6 1.0 1.6 1998 3.2 1.3 1.6 1999 1.1 1.4 1.5 2000 3.3 1.1 1.5 _________________________________________________________________________________________________. In response to question two, the items contained in the basket of goods, which is used to calculate both the RPI and the Pensioner Price Indices are reviewed annually. In answer to your third question, the Pensioner Price Indices relate to pensioner households whose income is mainly (at least 75%) dependent on state benefit. The Pensioner Price Indices are effectively a subset of the RPI as the same price data is used to produce both, however the Pensioner Price Indices exclude certain items that the RPI includes, such as housing costs, school meals and NHS prescription charges. For items where pensioners receive special rates (such as rail and bus fares), we produce special pensioner indices that differ from those in the RPI. In addition, there are various items and sections where pensioner expenditure patterns differ greatly from those used in the RPI--these include milk, soft drinks, footwear, fees and subscriptions, takeaways, T.V. licences, beer and wine sales (both `on' and `off'), tobacco, domestic services, chemists' goods, maintenance of motor vehicles, and books and newspapers. The weights used to construct the Pensioner Price Indices are therefore adjusted accordingly to take these different spending patterns into account.

Date

30 November 2000

Reference

357 c949-50W; 140671;140672;140673

House

House of Commons

Adjournment debate on inflation indices and statistical errors

Adjournment debate on inflation indices and statistical errors.

Lead member

Ed Davey

Answering member

Melanie Johnson

Department

Treasury

Type

Adjournment debates

Date

17 November 2000

Reference

356 c1231-40

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, If he will make a statement on the inflation forecasts set out in the Red Book. (Failed OPQ). - Ref to 22 June 2000 at 352 c286W.

Asked by

Derek Twigg (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

20 July 2000

Reference

130165; 354 c311W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, If he will make a statement on the inflation forecasts set out in the Red Book. (Failed OPQ)

Asked by

Michael Jabez Foster (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

22 June 2000

Reference

352 c286W; 125841

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what assessment he has made of the benefits and consequences of including asset prices in the Bank of England's inflation target; and if he will make a statement. - Includes figure.

Asked by

Austin Mitchell (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

6 June 2000

Reference

124348; 351 c220W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, In how many months since the power to set interest rates was transferred to the Bank of England, Britain's inflation rate has (a) exceeded and (b) fallen below the median range of its inflation target. (Failed OPQ). - Inc figures.

Asked by

Alan W Williams (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

9 March 2000

Reference

345 c815W; 112243

House

House of Commons

Treasury;Office for National Statistics

To ask Mr Chancellor of the Exchequer, pursuant to his Answer of 21st February, 344 c769W, on inflation, if regional price data have been made available to the European Commission for use in calculating regional GDP per head; and what plans the Chancellor has to instruct the Office of National...

Asked by

Lord Taylor of Goss Moor (Liberal Democrat)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

8 March 2000

Reference

113470; 345 c771-2W;345 c771W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the introduction of the national minimum wage on inflation. - Includes figures.

Asked by

David Kidney (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

29 November 1999

Reference

99633; 340 c78W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, if he will list his Department's latest estimates for the real effective exchange rate on a monthly basis since May 1997, taking into account relative inflation and United Kingdom trade-weighted movements in other exchange rates. - Inc fact that neither the Treasury nor...

Asked by

Vincent Cable (Liberal Democrat)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

27 October 1999

Reference

95638; 336 c897W

House

House of Commons

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Type

House

Session

Year

Department

Member

Primary member

Answering member

Legislative stage

Legislation

Subject

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