Last week the ONS released new data on differences in consumer prices across the UK.
While we get regular (monthly) updates on changes in consumer prices for the UK as a whole, there has long been an understanding that these UK average prices are likely to differ to at least some extent across parts of the UK (as anyone who has ever bought a pint of beer in London can attest!).
In this short blog, we will take a look at these data and see what they show about price differences across the UK. Differences in the price level across the UK (which is what these data show) is different from changes in the price level (which we do not have data on, except for the UK as a whole).
For a variety of reasons, not least arguments about differences in the purchasing power of households and household poverty more generally, differences in the price level can have big implications for our understanding of relative prosperity of households across regions.