Economy ONS has today published a new article highlighting the shortcomings of the Retail Prices Index (RPI) measure of consumer inflation. The key drawbacks of the RPI highlighted in the article include: The Carli formula used to average price changes in the RPI overstate inflation, increasing the 12-month growth rate by around 0.7 percentage points when compared with the Jevons formula used in CPIH. This is known as the 'formula effect.' The RPI uses a combination of mortgage interest payments and also house prices as a proxy for housing depreciation to calculate housing costs for home-owners, which reflects house prices and the cost of borrowing money rather than the cost of housing as a service. RPI excludes the highest income households and lowest income pensioner households from the expenditure weights used to calculate the index. This week marks National Apprenticeship Week. Here at ONS we're developing a new degree-level apprenticeship in data science with organisations across the public and private sectors. We already have over 100 apprentices enrolled on a variety of apprenticeships, and this new scheme will provide apprentices with the opportunity to thrive in a fast evolving and strategically critical discipline. Commenting on the publication of the Data Scientist degree apprenticeship scheme, National Statistician John Pullinger said: 
Work continues on the development of the apprenticeship, available in England and Wales, and it's hoped that the first apprentices will start in September 2018. Follow the Data Science Campus site and Twitter channel for updates. | 
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