UK statisticians turn to online prices to cope with Covid-19 lockdown
Around 80% of prices are usually collected in person, forcing rethink of data gathering approach
The UK’s Office for National Statistics unveiled its plans for compiling inflation statistics under lockdown today (May 6), turning to online prices to plug gaps in its data.
The changes will impact the consumer price index (CPI), the headline measure of inflation that the Bank of England targets, as well as CPIH (the CPI plus owner-occupied housing costs), and the retail price index (RPI), which is used to calculate several inflation-indexed prices and interest rates across the economy
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