How to evaluate the reliability of economic data?

Readers Question: how to evaluate the reliability of economic data? This is a good question. In brief, some issues to considerIs there a political angle? – Political leanings of media/think tank In what context is the data presented? How to interpret the data. Should we look at nominal data, real data or as a percentage of GDP – each stat will give a different impression Is the data being used to support a particular opinion? – Is the publisher looking for…

UK Inflation Rate and Graphs

UK Inflation Rate and Graphs

Current UK Inflation RateCPI inflation rate:  3.1% (headline rate) CPI – D7G7 at ONS (page updated 17 Dec 2017)Source: Raw data General inflation tables | CPI annual % change D7G7 at ONSOther measures of inflation(CPIH) CPI including owner occupiers’ housing costs – 2.8% (CPIH – L550) RPI – 3.9% (Nov 2017) Factory gate prices (Output prices) 3.3% June 2017 (output prices) ONS See: Measures of inflationCost-push inflationary factors In 2017, UK has…

UK unemployment-rate

UK Unemployment Stats and Graphs

A selection of graphs and statistics on UK unemployment. Also, looking at factors that explain UK unemployment and why unemployment has fallen in recent years.Raw data:  Labour market data | Source: ONS MGSX (LFS) Current UK Unemployment rateUnemployment rate of 4.3%, (Oct 2017) –  (UK Unemployment at ONS) 1.45 million unemployed people. (ONS)Employment ratesEmployment rate: 75.3% (proportion of people aged 16-64 in work) – ONS Employment:  32.136 million people in work.Participation…

UK Housing Market

UK Housing Market

A look at the main UK housing market data.House prices Affordability of housing Interest rates Supply of housingHouse price inflationNationwide dataAnnual house price inflation running at 5.3% in Q1 2016 London showed strongest housing market with prices rising more than other areas. Price of a typical home is £198,564 (Q1 2016)UK House prices in past few decadesIn 1969, average house prices were: £4,312 In 1975, average house prices were:…

eurozone inflation

EU inflation and deflation

The Eurozone inflation rate is 0.4% (ECB database)  (Sept 2014) Eurozone HCIP inflation rateHCIP (Harmonized consumer index prices) Source:| (ECB Inflation graphs, sometimes a few months outdated) Food inflationFood inflation is currently negative. Food inflation tends to be one of the most volatile components. This negative food inflation is one factor reducing the headline rate. Reasons for low inflation in the Eurozone 1. Temporary factors – lower food / energy prices….