The OOH(payments) approach is also used in the Household Costs Indices (HCIs), which aim to reflect changing prices and costs as experienced by households. In this article, we focus on two alternative approaches: payments (OOH(payments)) and net acquisitions (OOH(NA)). However, there are other approaches to measuring OOH. In the Consumer Prices Index including owner occupiers’ housing costs (CPIH), the OOH component is measured using the rental equivalence approach, OOH(RE). ![]() OOH is an important component of the household consumption basket. This is distinct from the cost of purchasing a house, which is purchased partly for the accumulation of wealth and partly for housing services. Owner occupiers’ housing costs (OOH) are the costs of housing services associated with owning, maintaining and living in one’s own home. Things you need to know about this release There is no change to 1 decimal place to the annual growth rate of the CPI-H(payments) series.Ģ. If OOH(payments) were to be recalculated using the correct interest rate, it would change the OOH(payments) annual growth rate from 1.6% to 2.0% in February 2020, and from 3.9% to 3.6% in March 2020. We have chosen not to revise this in OOH to avoid any confusion around publishing a different mortgage interest payments index compared with that published in the RPI. For this release, we will use the mortgage interest payments index consistent with the RPI. The mortgage interest payments index is a component of OOH(payments) and CPI-H(payments). However, in line with the published revisions policy for the RPI, the index will not be revised. The source data used in the compilation process did not accurately reflect the level of interest rates in the mortgage market. ![]() An error has been found in the data used to calculate the mortgage interest payments element of the Retail Prices Index (RPI) for February and March 2020.
0 Comments
Leave a Reply. |