The British National Statistical Office admits that more figures are defective.

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On Friday, the British Statistics Agency admitted that more figures were defective as they suspended the publication of two price indexes used to calculate GDP by deepening concerns about the reliability of British economic data.

The National Statistics Office has found defects in the producer price index and service producer price index, which provides price pressure in the business supply chain.

The release of PPI and SPI data scheduled for March 26 will be suspended during this problem, the agency added.

The delay will argue with the reliability of the numbers produced by ONS after delaying the publication of trade data this month as a notice of one day.

In addition, since the late 2023, long -term problems have been struggling due to long -term problems in major investigations on the labor market state that left the British minister and bank interest rate setter without solid employment data.

Rob Wood, the leading British economist at Pantheon Macroeconomics Consulting, said that the error of ONS data is widespread. It is said that this should be questioned how reliable all statistics are.

Since there is a flaw in the labor market, trade and PPI, he added that there should be a question of whether other errors and problems we have not yet found are hidden.

The issue of detailed price data used to calculate the UK economy is especially especially modified for estimating services, production and construction in 2022 and 2023, ONS said.

In various industries, the impact of the revision of PPI and SPPI should be offset, so there will be no significant changes in the recent economic trend, ONS said.

This problem also influenced how product transactions and service transactions were adjusted for inflation.

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According to the initial analysis, some commodity exports and imported data in 2023 may be affected, and prior to 2014, some commodity export data plans to start publishing in the summer.

Costas Milas, a professor of management at Liverpool University, said the error of the producer price index had serious results. If the ONS cannot accurately measure exports and import prices, the BOE will have a great difficulty in monitoring the impact of continuous trade war on imports and exports and consequences of British inflation.

Jonathan Portes, a professor of economic and public policy at Kings College London, added that PPI and SPPI errors were clearly unhappy but not abnormal.

The ONS said it was not expected to change the monthly, quarter stars, or the annual GDP publishing timetables, and that the headline consumer price index, housing cost, and a wide range of inflation, including CPIH, were not completely affected.

On Friday, Think-Tank said that the main revision of the official estimation of the private pension households of the institution was fundamentally defective, and policymakers had no reliable guidance on how the wealth was distributed among the households.

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