The monthly UK consumer prices release is one of our most closely-watched outputs. Not least by the Governor of the Bank of England who must explain to the Chancellor when inflation misses its target. Now the long history of UK prices measurement is the subject of a new book charting the development of its complex methodologies and the people and institutions behind them. As co-author and ONS Methodologist Dr Jeff Ralph explains, it all began with a handful of pioneers and visionaries.Read more on The inflation story – history of prices measurement told for the first time in new book
The Office for National Statistics is poised to start using VAT data from thousands of firms to produce its estimates of GDP. Chief Economist Nick Vaughan explains how this innovation will provide a much clearer view of economic performance by sector and area.Read more on New data will give ONS a uniquely detailed view of the UK economy
As ONS updates its ‘Flow of Funds’ statistics, Richard Campbell explains how new these new data are helping policy makers to see the build up of risks in the financial system.Read more on Thinking in multiple dimensions – The challenge of understanding ‘Flow of Funds’
New figures using the lead CPIH index show how inflation has impacted different groups from retired and working age households to those with or without children. Below, ONS Economist Tanya Flower looks at the history of inflation as well as the different approaches to measuring changing prices and how they affect different people.Read more on Whose inflation is it anyway?
Media reports have suggested that half a trillion pounds of UK-held foreign assets have gone ‘missing’, leaving the country ‘poorer’ as a result. But how fair is this interpretation of the latest data? Jonathan Athow explains the true position.Read more on Has £500 billion really gone missing?