Some  observers have gone to other extremes and have argued that the price of houses should be included in the CPI basket. The latter approach is difficult to justify theoretically, because houses are assets and serve as a store of wealth. It is the services that the house provides that are consumed.
- 11 to improve the measurement of the price of housing services, and further enhancements are planned. Behavioural explanations While these three measurement issues offer plausible explanations of why consumers’ perceptions of inflation may be higher than measured rates, there are other explanations that are less tangible.