Statistical bulletin
CPI, CPIH, RPI and RPIJ inflation price indices for June 2014 - brief description and analysis
Consumer price inflation is the speed at which the prices of goods and services bought by households rise or fall. Consumer price inflation is estimated by using price indices. One way to understand a price index is to think of a very large shopping basket containing all the goods and services bought by households. The price index estimates changes to the total cost of this basket. A price index can be used to measure inflation in a number of ways. The most common is to look at how the index has changed over a year. This is calculated by comparing the price index for the latest month with the same month a year ago. This is known as the 12-month inflation rate. This bulletin measures inflation to June 2014, so the 12-month rate measures changes in prices between June 2013 and June 2014
Some footnotes here.
Katherine Pegler ppi@ons.gsi.gov.uk Telephone: +44 (0)1633 456468
The Consumer Price Inflation is a monthly release that contains percentage changes and weights for the CPI, CPIH, RPI and RPIJ.
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