UK Inflation Data Revised Downward After ONS Admits Calculation Error

The Office for National Statistics has corrected Britain's April inflation rate to 3.4% from an initially reported 3.5%, citing faulty vehicle tax data from the Department of Transport. The 10-basis-point overstatement marks a rare error for the UK's official statistics agency.

Despite the revision, April's CPI still exceeded analyst expectations of 3.3%, maintaining pressure on monetary policymakers. The miscalculation specifically affected first-year vehicle excise duty rates, with no impact on other historical periods.

Market observers noted the unusual nature of the ONS revision. 'This is extraordinary,' remarked economist Julian Jessop. 'I don't recall the ONS getting the CPI wrong before.' The agency has pledged to implement corrected weightings starting with May's inflation data.