Further to the Statement of 10 January 20131 , the UK Statistics Authority is today announcing the launch of two reviews relating to price indices.

Range of prices statistics
The first review will consider what changes are needed to the range of consumer price statistics produced for the UK to best meet current and future user needs. The review will be led by Paul Johnson, Director of the Institute for Fiscal Studies, and will report to the Board of the UK Statistics Authority and deliver a final report for publication by summer 2014. The terms of reference have now been published.

Governance of prices statistics
The second review will consider matters relating to the governance arrangements and structures supporting the production of consumer price statistics by the Office for National Statistics to ensure that these statistics best meet the needs of users in future. The review will be led by Professor Sir Adrian Smith, the Authority’s Deputy Chair with responsibility for ONS. The review will report to the Board of the Authority and deliver a final report for publication by October 2013. The terms of reference have now been published. 

Speaking today Andrew Dilnot, Chair of the UK Statistics Authority said:

“I am delighted that Sir Adrian Smith and Paul Johnson have agreed to lead these two important and exciting reviews that will consider significant matters relating to price indices.

“Sir Adrian’s review will tackle the vitally important question for the governance arrangements supporting the production of price statistics to underpin the quality, integrity and independence of price statistics for the public good, as well as considering the role of the producer and the provision of the best advice to the producer, and relevant international practice and context.

“The Authority also wants to recommend a framework for consumer prices statistics that understands and best meets the needs of users, and is accountable, flexible, and transparent. Modern economics are complex and the measurement of price change is challenging. The review led by Paul Johnson is an opportunity to think carefully about these difficult but very important questions.

“I and the Authority Board are looking forward to receiving their recommendations in due course”.

For media enquiries about this Statement and the two reviews please contact +44 (0)7786 892263