Measuring The Cost Of Living

EDM number 890 in 2014-15, proposed by Frank Doran on 18/03/2015.
Categorised under the topics of Economic situation and Statistics policy.

That this House believes that the Retail Price Index (RPI) remains the most accurate measure of the rise in the cost of living faced by UK workers; notes that over many decades the majority of pay bargaining in the UK has traditionally taken the RPI as its main reference point but that the Johnson Review poses a major threat to the continued publication of the RPI; further believes that given the alternative Consumer Prices Index (CPI) and CPIH measures run around one per cent lower than the RPI, this would deal further blows to the pay packets of workers who have been experiencing years of deep declines in the value of their wages; further notes that a rigorous study of inflation by Dr Mark Courtney which sets out why the coverage of the RPI is most relevant to the costs faced by workers; and further believes that the importance of accurate measurement is central to recent proposals calling for the introduction of an independent Living Standards Index to measure the success of Government in dealing with the cost of living.

This motion has been signed by a total of 47 MPs.