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Measuring the General Level of Prices in the UK in the long-Nineteenth Century: from Individual Innovation to State Production

Measuring the General Level of Prices in the UK in the long-Nineteenth Century: from Individual Innovation to State Production
Measuring the General Level of Prices in the UK in the long-Nineteenth Century: from Individual Innovation to State Production
We examine the trajectory of price measurement in the UK in the nineteenth century. The initial steps were taken by interested individuals, and were largely concerned with documenting changes in the value of money driven by increases in the availability of gold and silver. We focus on (a) the conceptual approaches to price measurement, particularly the move from producer (wholesale) prices towards consumer prices; (b) the practical problems of obtaining the information needed and calculating an index; and (c) the social and political pressures which eventually led to the introduction of an official index.
Wholesale Price Index, inflation, household expenditure, Board of Trade, Commodity Prices, Consumer Prices
2517-7850
10-35
Smith, Paul A.
a2548525-4f99-4baf-a4d0-2b216cce059c
Ralph, Jeffrey
a2981516-897b-454c-88a3-fd14c4f75a11
Smith, Paul A.
a2548525-4f99-4baf-a4d0-2b216cce059c
Ralph, Jeffrey
a2981516-897b-454c-88a3-fd14c4f75a11

Smith, Paul A. and Ralph, Jeffrey (2021) Measuring the General Level of Prices in the UK in the long-Nineteenth Century: from Individual Innovation to State Production. Romance, Revolution and Reform, (3), 10-35, [2].

Record type: Article

Abstract

We examine the trajectory of price measurement in the UK in the nineteenth century. The initial steps were taken by interested individuals, and were largely concerned with documenting changes in the value of money driven by increases in the availability of gold and silver. We focus on (a) the conceptual approaches to price measurement, particularly the move from producer (wholesale) prices towards consumer prices; (b) the practical problems of obtaining the information needed and calculating an index; and (c) the social and political pressures which eventually led to the introduction of an official index.

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More information

Published date: 14 January 2021
Keywords: Wholesale Price Index, inflation, household expenditure, Board of Trade, Commodity Prices, Consumer Prices

Identifiers

Local EPrints ID: 446541
URI: http://eprints.soton.ac.uk/id/eprint/446541
ISSN: 2517-7850
PURE UUID: 552015d6-7e9c-4227-ab41-74580248251b
ORCID for Paul A. Smith: ORCID iD orcid.org/0000-0001-5337-2746

Catalogue record

Date deposited: 12 Feb 2021 17:33
Last modified: 18 Feb 2021 17:24

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Contributors

Author: Paul A. Smith ORCID iD
Author: Jeffrey Ralph

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