How Is the RPI Put Together?

Article Abstract:

The Retail Price Index (RPI) is the major measure of inflation used in the United Kingdom. The RPI is based on the prices of more than 600 items considered to be representative in a typical family budget as determined by the Department of Employment family expenditure survey (FES). The index has existed in some form since 1914. The FES provides high quality data through detailed interviews involving three visits, confidentiality and payment to those who help. The RPI includes some items not included in the survey due to their complexity and includes the highest income households that generally do not answer the surveys. Prices are then weighted according to their effect on the household. The index measures percentage price changes, not prices in pounds sterling. The index is best used in measuring over longer periods. The short-term indexes show figures not seasonally adjusted.

Analysis, Prices

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There's More than One Path through the Prices Maze

Article Abstract:

While the Retail Price Index (RPI) is a handy inflation guide, business will find other indicators more useful in forecasting cost upheavals. Producer Price Indices (PPIs) indicate the changes in business costs. There are two main PPIs. One measures movements in the in the prices of materials and fuels purchased by manufacturers; the other, the output index, measures changes in their domestic selling prices. It is from these indices that the price indices for current cost accounting (PINCCA) are derived.

Prices and rates, Indexes, Indexes (Information retrieval)

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Unsung Heroes in a Maze of Fees

Article Abstract:

Fees for auditing of different companies are compared according to cost per pound of shareholders' funds in the United Kingdom. Fees are compared on an industry-by- industry basis with some surprises. Advertising, leisure and engineering command high fees though building industry activities command low fees from auditors. Remuneration for auditors is still generally moderate across the board.

Auditing

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