The danger of hanging your hat on experimental statistics

The Office for National Statistics (ONS) have updated the methodology for their index of private rents.

That might sound boring, but believe me: it’s not. Because the update shows that over the last ten years private rents have been going up twice as quickly as they previously thought.

So, where the ONS index (with the unwieldy official title of Index of Private Housing Rental Prices or IPHRP) under its old methodology suggested that rents increased by 4.5% between January … Read more