Consultation on Proposed Changes to the Retail Price Index

Activity: OtherMedia (Press)


Professor David Mayston participated in the seminar organised by the Office for National Statistics in London in October 2012 on their proposed changes to the methodology for the calculation of the Retail Price Index (RPI) pointing out several problems with the ONS's proposals and economic analysis. The Financial Times published a follow-up letter by him on 24th November 2012 opposing the proposed change by the Office of National Statistics, and stressing its adverse impact on pension funds and many savers, and the dubious basis for these changes, which he detailed more extensively in his associated submission to the ONS’s online consultation process. As a result of the consultation process, the National Statistician announced on 10th January 2013 that she was not proceeding with the proposed changes, with UK index-linked government bonds experiencing the largest recorded daily increase in price later that day.
Held atOffice for National Statistics