There is no easy way to measure inflation—but some ways are better than others

The digital era and globalisation have wrought unprecedented changes in the UK economy, with an increasing variety of goods and services being purchased, often online, by UK consumers. In response, the Office for National Statistics has been busy ensuring our measures of inflation reflect these changes, and that we better understand their impact on different households.

Measuring inflation is complex and we’ve often encountered a range of challenges, which have required innovative solutions, but we are pressing ahead and have reached some firm…