The latest episode of the Statistically Speaking podcast reveals how the ONS is now measuring UK consumer price inflation with data gathered from supermarket checkouts. Our guests explain why it’s a step change in the production of this vital economic indicator that broadens our understanding of the real cost of the living.
Today we have published our third quarterly update on the improvement work underway in the ONS for surveys and economic statistics. The update reflects refined priorities, reset milestones and clarity about where activity must wait until constraints are resolved. James Benford explains that, while there is still much to do, putting quality ahead of quantity, and credibility ahead of volume, remains a guiding principle that is driving an ongoing recovery in economic statistics.
Read more on Firmer footing: our latest update on our Surveys and Economic Statistics Improvement Plan
Wealth in Great Britain is one of the ONS’s key economic publications, biennially reporting on the level of wealth and how it is held, including the value of homes, how much is owed in debt and the value of pensions. It is derived from results from the Wealth and Assets Survey. Recently the ONS has updated how it estimates the value of pension wealth. Becca Briggs explains how and why the numbers have been updated.
Read more on Producing the best estimates of changing household wealth Over the last year the ONS has been focusing resources on its headline economic statistics and progressing improvements, particularly on our complex labour market data. In line with our commitment to transparency at the earliest opportunity, James Benford updates on an operational issue which will temporarily impact data quality for the labour force survey from next month. James describes the immediate action taken and work in train on a wider lessons-learned exercise to ensure we both correct course and act to strengthen our operations to further progress the recovery of our statistics.
Read more on Learning from an operational issue temporarily impacting LFS data, in support of our continued recovery
There has been a lot of focus recently on labour productivity, which looks at how much is produced for each hour worked across the economy. Richard Heys explains the different measures the ONS calculates as well as which gives the best indication of recent changes in the UK economy.
Read more on How the ONS measures productivity
For almost two centuries detailed data on childbearing by mothers has been produced. However, until now, completing that fertility picture with data on fathers has been more challenging. Here Greg Ceely explains why a change in legislation in 1960, and the subsequent digitisation of births data, means the ONS is now able to provide fresh insights on fathers over a lifetime.
Read more on Introducing new figures on fathers’ fertility and families
