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Investing.com -- The Office for National Statistics (ONS) in the U.K. announced on Friday that it has suspended the publication of its producer price index.
This comes as a fresh setback for the agency, which has previously faced criticism from the Bank of England due to issues with data gathering.
The ONS revealed that during an effort to enhance the systems responsible for generating the producer price index and the services producer price indices, a quality assurance process identified an issue with the chain-linking methods used in the calculation of these indices.
The issue affects data from 2008 and onwards. However, the primary impact on annual PPI rates was observed in 2022 and 2023, coinciding with the global surge in inflation.
The ONS pointed out that the headline output PPI is expected to be adjusted upward, while the headline services producer price index (SPPI) is likely to be revised downward.
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