Tuesday 25 October 2022
The latest Inflation Bulletin for Guernsey, published in October 2022, includes for the first time Household Cost Indices (HCIs) alongside the usual Retail Price Indices (RPIs).
HCIs are intended to aid in the understanding of the differences in rates of price inflation being experienced by different types of household, such as:
- Low income or high income households
- Households containing one or more child(ren) or households with none
- Households containing one or more retired personor households with none
- Households containing one or more person with a disabilityorlong term illness that limits
- Owner occupier households (including those with or without a mortgage) or Private or Social renter households
The HCI measures equally represent low-income and low-spend households alongside those with higher incomes that spend more, which make them good for comparing how different spending patterns result in different experiences of inflation. They also factor in that people may adjust their spending habits by changing brands when there are large changes in prices.
The UK also includes HCIs amongst its inflation statistics and the same methodology as has been used to produce Guernsey's HCI statistics.
More information on HCIs and the latest Inflation Bulletin can be found at gov.gg/rpi.
