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How did the Office for National Statistics make an error with UK inflation?
There was renewed scrutiny over the credibility of figures produced by the Office for National Statistics (ONS) after the government body admitted an error in its inflation calculations for April.
According to the ONS, the issue arose after the government overstated the number of vehicles subject to the vehicle excise duty.
The UK stats body revealed that the error with data provided by the Department for Transport meant the figure for consumer price inflation was 0.1 percentage point higher in a publication released last month.
It added that it would not amend the inflation rate of 3.5 per cent down to 3.4 per cent due to its own policies and procedures on consumer prices.
Read more of the story here 👇
https://www.cityam.com/ons-blames-government-figures-after-revealing-april-inflation-error/
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Produced by: Elliot Gulliver-Needham, Matt Kenyon, Joe Lee, Emmanuel Nwosu
#news #uk #costofliving #costoflivingcrisis #inflation #finance #financialnews #money #moneymanagement #economy #economics #business #businessnews #businessgrowth #ukeconomy #uknews #ukbusiness #officefornationalstatistics #ons #tax #taxes #vehicles #vehicle #car #cars
Видео How did the Office for National Statistics make an error with UK inflation? канала City A.M.
According to the ONS, the issue arose after the government overstated the number of vehicles subject to the vehicle excise duty.
The UK stats body revealed that the error with data provided by the Department for Transport meant the figure for consumer price inflation was 0.1 percentage point higher in a publication released last month.
It added that it would not amend the inflation rate of 3.5 per cent down to 3.4 per cent due to its own policies and procedures on consumer prices.
Read more of the story here 👇
https://www.cityam.com/ons-blames-government-figures-after-revealing-april-inflation-error/
Get more of City AM 👇
🌐 http://www.cityam.com
X(formerly Twitter): http://twitter.com/CityAM
Facebook: http://www.facebook.com/cityam
Instagram: http://www.instagram.com/city_am
LinkedIn: www.linkedin.com/company/cityam
Produced by: Elliot Gulliver-Needham, Matt Kenyon, Joe Lee, Emmanuel Nwosu
#news #uk #costofliving #costoflivingcrisis #inflation #finance #financialnews #money #moneymanagement #economy #economics #business #businessnews #businessgrowth #ukeconomy #uknews #ukbusiness #officefornationalstatistics #ons #tax #taxes #vehicles #vehicle #car #cars
Видео How did the Office for National Statistics make an error with UK inflation? канала City A.M.
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6 июня 2025 г. 1:33:15
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