Shop Price Index
The BRC-Nielsen Shop Price Index (SPI) is a monthly measure of UK shop price inflation.
The SPI measures changes in the price of 500 of the most commonly bought items. The SPI demonstrates the extent to which retailers contribute to inflation through the pricing of commonly bought goods. The SPI is administered by Nielsen, who collate the data on behalf of the BRC. The BRC provide analysis and wider commentary on retail-specific and economy-wide inflation.
MethodologyClick to show methodology
The index is designed to reflect changes in shop prices nationally. The sampling points are distributed across five large urban centres across the UK. Sample stores are chosen to reflect local shopping habits and therefore include a representative number of town centres, superstores on out-of-town sites, town centre department stores and shopping centres. In each location, Nielsen collect and process the data on behalf of the BRC. Data collection is monthly and in the same stores to maintain like for like comparability.
The items for which prices are collected reflect standard consumer purchasing patterns in terms of branded/own label split and price distribution. The index includes five main sectors of purchase: food, hardware, furniture, electrical, clothing, and other goods. In total there are 500 items representing the five main sectors, with around 6,500-7,000 price points collected each period. Each product class category is weighted based on the “all households” expenditure measure in the Office for National Statistics (ONS) Family Expenditure Survey. The ONS Retail Price Index (RPI) is weighted using the same expenditure measures.
|HEADLINES FROM THE MOST RECENT SHOP PRICE INDEX REPORTS|
Wed 3 Dec 2014 (7 days time)