How we measure rental price inflation In 2024 the ONS introduced the Price Index of Private Rents (known as âPIPRâ). Unlike some measures of rents, PIPR aims to capture the average achieved price for all rents, not just advertised rents or new lets. This is important because most renters are in long-term tenancies, and donât experience a change in rent every month. Our new approach also allows us to better capture price changes at a more local level by making better use of the rental data we receive. Chris Jenkins explains the methods we use in PIPR and why we have chosen them. | 