The recent rise in UK inflation has focused much attention on this important metric. But the headline inflation rate is, of course, only an average figure and doesn’t necessarily reflect the price changes experienced by different people. In this post Mike Hardie explains the challenges of measuring everyone’s cost of living – and how some important new enhancements will provide a clearer picture in future. As we wrote last November, the ONS produces its headline inflation rate every month. It is produced by collecting the prices of over 700 everyday goods and services bought by UK households in numerous locationsThe recent rise in UK inflation has focused much attention on this important metric. But the headline inflation rate is, of course, only an average figure and doesn’t necessarily reflect the price changes experienced by different people. In this post Mike Hardie explains the challenges of measuring everyone’s cost of living – and how some ► The FINANCIAL UK local news