Calculation Errors Prompt Suspension of Key Economic Indicators

The Office for National Statistics (ONS) in the United Kingdom has announced a temporary halt in the publication of producer price indices. This decision comes after the discovery of a significant issue with the chain-linking methods used in calculating these crucial economic indicators.

"In our ongoing efforts to enhance the systems responsible for generating the Producer Price Index (PPI) and the Services Producer Price Indices (SPPI), a flaw in the chain-linking methodology was identified. Consequently, the release of PPI and SPPI data, initially scheduled for March 26, has been paused to address and rectify this issue," explained the statistical agency.

It's important to note that this development does not impact the consumer price index (CPI), which will continue to be published as usual.