Tag Archives: House of Lords

RPI – the background to the scandal

The RPI scandal has been a slow motion car crash since 2010. The nation’s most well-used and well-known statistic has been subjected to silly mistakes in production, weak and indecisive management, too much political influence and misuse, an overbearing economist mindset, more dogma than imagination, limited innovation, and mixed messages from those supposedly in control. This sad story with resulting confusion for users reflects a fundamental failure of governance. This blog provides a one-stop shop for anyone looking to understand the governance, or lack of it. The next chapter in this saga will come later this week with the publication of the House of Lords report into the RPI.  Continue reading RPI – the background to the scandal

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The king and his fish: the RPI fairytale

The monthly release of the inflation figures (due tomorrow Wednesday 16th) is always a reminder of the futile attempts by ONS/UKSA to suppress the RPI. The RPI is the most popular statistic produced by the ONS (as measured by web hits, calls to ONS etc.) yet there’s no commentary on the RPI and the numbers do not appear in the 11 page press release. The breakdown of the RPI is hidden away in the back three pages of the 19 page data pack (just after the table that gives the rates for Lithuania, Slovakia and other EU states that the ONS presumably thinks are more interesting to users). To note the madness of this continuing practice, please find below a fairytale.  Continue reading The king and his fish: the RPI fairytale