{"id":14419,"date":"2021-09-15T11:55:14","date_gmt":"2021-09-15T10:55:14","guid":{"rendered":"https:\/\/www.economicsobservatory.com\/?post_type=question&#038;p=14419"},"modified":"2021-09-15T17:11:31","modified_gmt":"2021-09-15T16:11:31","slug":"inflation-what-do-the-latest-data-reveal-about-uk-prices","status":"publish","type":"question","link":"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices","title":{"rendered":"Inflation: what do the latest data reveal about UK prices?"},"content":{"rendered":"\n<p>Inflation has risen to 3.2% according to <a href=\"https:\/\/www.ons.gov.uk\/releases\/consumerpriceinflationukaugust2021\">the latest data from the Office for National Statistics (ONS)<\/a> released this morning. The previous annual increase of the Consumer Prices Index (CPI) rate was 2% \u2013 exactly the number that the Bank of England is charged with hitting. Today\u2019s data make things look very different (Figure 1). Is the sudden surge in inflation something those at Threadneedle Street should react to?<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Figure 1: Inflation, percentage change over 12 months<\/h4>\n\n\n<section class=\"blocks__chart\">\n    <div id=\"chatEmbed436321\" class=\"blocks__chart-svg\"><\/div>\n\n    <script>\n        var spec = {\"$schema\":\"https:\\\/\\\/vega.github.io\\\/schema\\\/vega-lite\\\/v5.json\",\"title\":{\"text\":\"Inflation - official target\",\"subtitle\":\"CPI, % change over 12 months \",\"subtitleFontStyle\":\"italic\",\"subtitleFontSize\":10,\"anchor\":\"start\",\"color\":\"black\"},\"width\":400,\"height\":300,\"data\":{\"name\":\"myData\",\"url\":\"https:\\\/\\\/raw.githubusercontent.com\\\/RDeconomist\\\/RDeconomist.github.io\\\/main\\\/charts\\\/ONSinflation\\\/data_MM23-D7G7.json\",\"format\":{\"type\":\"json\",\"property\":\"months\"}},\"transform\":[{\"calculate\":\"replace(datum.date, ' JAN', '-01')\",\"as\":\"date1\"},{\"calculate\":\"replace(datum.date1, ' FEB', '-02')\",\"as\":\"date2\"},{\"calculate\":\"replace(datum.date2, ' MAR', '-03')\",\"as\":\"date3\"},{\"calculate\":\"replace(datum.date3, ' APR', '-04')\",\"as\":\"date4\"},{\"calculate\":\"replace(datum.date4, ' MAY', '-05')\",\"as\":\"date5\"},{\"calculate\":\"replace(datum.date5, ' JUN', '-06')\",\"as\":\"date6\"},{\"calculate\":\"replace(datum.date6, ' JUL', '-07')\",\"as\":\"date7\"},{\"calculate\":\"replace(datum.date7, ' AUG', '-08')\",\"as\":\"date8\"},{\"calculate\":\"replace(datum.date8, ' SEP', '-09')\",\"as\":\"date9\"},{\"calculate\":\"replace(datum.date9, ' OCT', '-10')\",\"as\":\"date10\"},{\"calculate\":\"replace(datum.date10, ' NOV', '-11')\",\"as\":\"date11\"},{\"calculate\":\"replace(datum.date11, ' DEC', '-12')\",\"as\":\"date12\"},{\"calculate\":\"timeParse(datum.date12, '%Y-%m')\",\"as\":\"dateClean\"},{\"filter\":\"datum.year>=minYear\"},{\"filter\":\"datum.year<=maxYear\"}],\"params\":[{\"name\":\"minYear\",\"value\":2015,\"bind\":{\"input\":\"range\",\"min\":1988,\"max\":2021,\"step\":1,\"name\":\"Start year:\"}},{\"name\":\"maxYear\",\"value\":2021,\"bind\":{\"input\":\"range\",\"min\":1989,\"max\":2021,\"step\":1,\"name\":\"End year:\"}}],\"layer\":[{\"mark\":{\"type\":\"line\",\"color\":\"#36b7b4\",\"width\":10,\"strokeWidth\":2,\"opacity\":1},\"encoding\":{\"x\":{\"field\":\"dateClean\",\"type\":\"temporal\",\"title\":null},\"y\":{\"field\":\"value\",\"type\":\"quantitative\",\"title\":null}}},{\"encoding\":{\"x\":{\"aggregate\":\"max\",\"field\":\"dateClean\",\"type\":\"temporal\"},\"y\":{\"aggregate\":{\"argmax\":\"dateClean\"},\"field\":\"value\",\"type\":\"quantitative\"},\"text\":{\"aggregate\":{\"argmax\":\"dateClean\"},\"field\":\"value\",\"type\":\"nominal\"}},\"layer\":[{\"mark\":{\"type\":\"circle\",\"color\":\"#36b7b4\",\"size\":100}},{\"mark\":{\"type\":\"text\",\"align\":\"left\",\"dx\":8,\"color\":\"#36b7b4\"}}]}]};\n        var view = new vega.View(vega.parse(spec), {\n            responsive: true,\n            renderer: \"canvas\", \/\/ renderer (canvas or svg)\n            container: \"#chatEmbed436321\", \/\/ parent DOM container\n            hover: true \/\/ enable hover processing\n        });\n        view.run();\n\n        vegaEmbed('#chatEmbed436321', spec);\n    <\/script>\n<\/section>\n\n\n<h5 class=\"wp-block-heading\">Source: <a href=\"https:\/\/raw.githubusercontent.com\/RDeconomist\/RDeconomist.github.io\/main\/charts\/ONSinflation\/data_MM23-D7G7.json\">ONS API<\/a><\/h5>\n\n\n\n<p>The ONS's initial take on the data suggests not. Much of this, they say, is temporary. Since inflation is a measure of the annual change in prices it is impacted by so-called \u2018base effects\u2019. What this jargon means is that inflation is being driven by what happened last year, rather than events today: if prices were pushed down last year, and have risen since, then inflation will rise \u2013 not because today\u2019s prices are high but because those in the past (the \u2018base\u2019) were low. This is exactly what the ONS says is happening: Eat Out to Help Out temporarily slashed prices last year. The end of the scheme saw prices rise, and inflation this month jump.<\/p>\n\n\n\n<p>Hawks will of course see things differently. Looking at the data that underlies the headline numbers there are many categories of goods where temporary effects are less clear. Food prices, for example, are making a significant contribution. Using the underlying \u2018micro data\u2019 set out in <a href=\"https:\/\/cep.lse.ac.uk\/pubs\/download\/cepcovid-19-017.pdf\">this paper<\/a>, and comparing month-on-month prices, various types of food remain the top risers. Hover over the bubbles in Figure 2 below to reveal the top risers.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Figure 2: Top price risers this month<\/h4>\n\n\n<section class=\"blocks__chart\">\n    <div id=\"chatEmbed90181\" class=\"blocks__chart-svg\"><\/div>\n\n    <script>\n        var spec = {\"$schema\":\"https:\\\/\\\/vega.github.io\\\/schema\\\/vega-lite\\\/v5.json\",\"description\":\"UK CPI data visualisation\",\"title\":{\"text\":\"This month - top risers\",\"subtitle\":\"Hover for item detail. Bubble size based on median price\",\"subtitleFontStyle\":\"italic\",\"subtitleFontSize\":10,\"anchor\":\"start\",\"color\":\"black\"},\"config\":{\"background\":\"white\",\"view\":{\"stroke\":\"transparent\"}},\"data\":{\"url\":\"https:\\\/\\\/raw.githubusercontent.com\\\/RDeconomist\\\/prices\\\/master\\\/dbLatestRelease.csv\"},\"height\":400,\"width\":400,\"selection\":{\"paintbrush\":{\"type\":\"multi\",\"on\":\"mouseover\",\"nearest\":true}},\"transform\":[{\"calculate\":\"datum.down_sh*(-1)\",\"as\":\"down\"},{\"filter\":\"datum.upRank>550\"}],\"mark\":{\"type\":\"circle\",\"opacity\":0.8,\"XYZcolor\":\"#f4a245\",\"size\":60},\"encoding\":{\"y\":{\"field\":\"upRank\",\"type\":\"quantitative\",\"axis\":{\"grid\":false,\"labels\":false},\"scale\":{\"zero\":false},\"title\":null},\"x\":{\"field\":\"up_sh\",\"type\":\"quantitative\",\"axis\":{\"grid\":false,\"format\":\",.0%\"},\"scale\":{\"zero\":true},\"title\":\"Share of prices rising\"},\"size\":{\"field\":\"p\",\"type\":\"quantitative\",\"title\":\"Price\",\"legend\":{\"orient\":\"bottom-left\"}},\"color\":{\"field\":\"name1\",\"type\":\"ordinal\",\"title\":\"Item type\",\"legend\":{\"orient\":\"top-left\"},\"scale\":{\"scheme\":\"set1\"}},\"tooltip\":[{\"field\":\"item_desc\",\"type\":\"nominal\",\"title\":\"Description\"},{\"field\":\"p\",\"type\":\"quantitative\",\"title\":\"Price (median)\",\"format\":\".0f\"},{\"field\":\"up_sh\",\"type\":\"quantitative\",\"title\":\"Share rising\",\"format\":\",.2%\"},{\"field\":\"down_sh\",\"type\":\"quantitative\",\"title\":\"Share falling\",\"format\":\",.2%\"}]}};\n        var view = new vega.View(vega.parse(spec), {\n            responsive: true,\n            renderer: \"canvas\", \/\/ renderer (canvas or svg)\n            container: \"#chatEmbed90181\", \/\/ parent DOM container\n            hover: true \/\/ enable hover processing\n        });\n        view.run();\n\n        vegaEmbed('#chatEmbed90181', spec);\n    <\/script>\n<\/section>\n\n\n<h5 class=\"wp-block-heading\">Source: <a href=\"https:\/\/raw.githubusercontent.com\/RDeconomist\/prices\/master\/dbLatestRelease.csv\">Author\u2019s calculations<\/a><\/h5>\n\n\n\n<p>Those of us who track inflation closely have reason to cheer this month. With football stadiums re-opening the ONS reports that there are no longer missing items from the CPI basket. The lockdowns meant that many goods\u2014from prices in pubs to cinema tickets\u2014were not possible to collect. The implication was that the amount of underlying micro data that go into the CPI fell drastically; it has now recovered (Figure 3). Inflation is arguably the single most important metric for the UK economy, since it is bound to a policy lever\u2014interest rates\u2014that affects everyone. Measuring inflation on a thinner set of numbers was necessary but uncomfortable.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Figure 3: Number of usable prices in LRPD \u2013 by region<\/h4>\n\n\n<section class=\"blocks__chart\">\n    <div id=\"chatEmbed291065\" class=\"blocks__chart-svg\"><\/div>\n\n    <script>\n        var spec = {\"$schema\":\"https:\\\/\\\/vega.github.io\\\/schema\\\/vega-lite\\\/v4.json\",\"description\":\"Prices by region\",\"title\":{\"text\":\"Covid-19 and price collection - regional impact\",\"subtitle\":\"Number of useable prices in the LRPD.\",\"subtitleFontStyle\":\"italic\",\"subtitleFontSize\":10,\"anchor\":\"start\",\"color\":\"black\"},\"data\":{\"url\":\"https:\\\/\\\/raw.githubusercontent.com\\\/RDeconomist\\\/prices\\\/master\\\/dbPricesByRegion.csv\"},\"height\":300,\"width\":400,\"mark\":{\"type\":\"line\",\"point\":false},\"selection\":{\"region\":{\"type\":\"multi\",\"fields\":[\"region\"],\"bind\":\"legend\"}},\"transform\":[{\"filter\":{\"field\":\"date\",\"range\":[{\"year\":2018,\"month\":\"jan\",\"date\":1},{\"year\":2030,\"month\":\"dec\",\"date\":30}]}}],\"encoding\":{\"x\":{\"field\":\"date\",\"type\":\"temporal\",\"title\":null,\"axis\":{\"format\":\"%Y\"}},\"y\":{\"field\":\"prices\",\"type\":\"quantitative\",\"title\":null,\"axis\":{\"format\":\".2s\"}},\"color\":{\"field\":\"region\",\"type\":\"nominal\",\"scale\":{\"range\":[\"#122b39\",\"#e6224b \",\"#36b7b4\",\"#5c267b\",\"#179fdb\",\"#00a767\",\"#f4c245\",\"#eb5c2e\",\"#0063af\",\"#7fd3b3\",\"#AE93BD\",\"#F4A19F\"]},\"title\":null,\"legend\":{\"orient\":\"bottom\",\"columns\":2}},\"opacity\":{\"condition\":{\"selection\":\"region\",\"value\":1},\"value\":0.1},\"tooltip\":[{\"field\":\"date\",\"type\":\"temporal\",\"title\":\"Date\"},{\"field\":\"region\",\"type\":\"nominal\",\"title\":\"Region\"},{\"field\":\"prices\",\"type\":\"nominal\",\"title\":\"Prices\",\"format\":\",.0f\"},{\"field\":\"obs\",\"type\":\"quantitative\",\"title\":\"Total prices (UK)\",\"format\":\",.0f\"}]}};\n        var view = new vega.View(vega.parse(spec), {\n            responsive: true,\n            renderer: \"canvas\", \/\/ renderer (canvas or svg)\n            container: \"#chatEmbed291065\", \/\/ parent DOM container\n            hover: true \/\/ enable hover processing\n        });\n        view.run();\n\n        vegaEmbed('#chatEmbed291065', spec);\n    <\/script>\n<\/section>\n\n\n<h5 class=\"wp-block-heading\">Source: <a href=\"https:\/\/raw.githubusercontent.com\/RDeconomist\/prices\/master\/dbPricesByRegion.csv\">Author\u2019s calculations<\/a><\/h5>\n\n\n\n<p>In deciding what to do with interest rates, the Monetary Policy Committee (MPC) will look closely at data from the labour market. Yesterday, the ONS revealed that <a href=\"https:\/\/www.ons.gov.uk\/releases\/uklabourmarketseptember2021\">vacancies were at an all-time high<\/a>, with over a million jobs on offer in the UK (Figure 4).<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Figure 4: Vacancies (thousands)<\/h4>\n\n\n<section class=\"blocks__chart\">\n    <div id=\"chatEmbed911514\" class=\"blocks__chart-svg\"><\/div>\n\n    <script>\n        var spec = {\"$schema\":\"https:\\\/\\\/vega.github.io\\\/schema\\\/vega-lite\\\/v5.json\",\"data\":{\"url\":\"https:\\\/\\\/api.allorigins.win\\\/raw?url=https:\\\/\\\/api.ons.gov.uk\\\/timeseries\\\/ap2y\\\/dataset\\\/lms\\\/data\",\"format\":{\"type\":\"json\",\"property\":\"months\"}},\"mark\":{\"type\":\"line\",\"color\":\"#36b7b4\",\"strokeWidth\":2,\"opacity\":1},\"title\":{\"text\":\"Vacancies\",\"subtitle\":\"All vacancies, thousands, three month average\",\"subtitleFontStyle\":\"italic\",\"subtitleFontSize\":10,\"anchor\":\"start\",\"color\":\"black\"},\"width\":400,\"height\":300,\"encoding\":{\"x\":{\"field\":\"date\",\"type\":\"temporal\",\"title\":null},\"y\":{\"field\":\"value\",\"type\":\"quantitative\",\"title\":null},\"tooltip\":[{\"field\":\"date\",\"type\":\"temporal\",\"title\":\"Date\"},{\"field\":\"value\",\"type\":\"quantitative\",\"title\":\"Vacancies (thousands)\"}]}};\n        var view = new vega.View(vega.parse(spec), {\n            responsive: true,\n            renderer: \"canvas\", \/\/ renderer (canvas or svg)\n            container: \"#chatEmbed911514\", \/\/ parent DOM container\n            hover: true \/\/ enable hover processing\n        });\n        view.run();\n\n        vegaEmbed('#chatEmbed911514', spec);\n    <\/script>\n<\/section>\n\n\n<h5 class=\"wp-block-heading\">Source: <a href=\"https:\/\/api.ons.gov.uk\/timeseries\/ap2y\/dataset\/lms\/data\">ONS API<\/a><\/h5>\n\n\n\n<p>To fill these jobs, firms may have to start offering higher wages. This would be a welcome relief for many, given the slow pace of wage increases over the past ten years. If it happens, so that price and wage increase become a regular feature of the UK economy, then expect interest rates to rise too.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Where can I find out more?<\/h3>\n\n\n\n<ul><li><a href=\"https:\/\/www.ons.gov.uk\/releases\/producerpriceinflationukaugust2021\">This report<\/a> from the Office for National Statistics provides the latest price and inflation data.<\/li><li>Past inflation data are available <a href=\"https:\/\/www.ons.gov.uk\/releasecalendar?query=inflation&fromDateDay=&fromDateMonth=&fromDateYear=&toDateDay=&toDateMonth=&toDateYear=&view=&size=10\">here<\/a>.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Who are experts on this question?<\/h3>\n\n\n\n<ul><li>Jagjit Chadha<\/li><li>Richard Davies<\/li><li>Huw Dixon<\/li><li>Michael McMahon<\/li><li>Corrado Macchiarelli<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\">Author: Richard Davies<\/h5>\n\n\n\n<p><\/p>\n","protected":false},"featured_media":14426,"template":"","categories":[493,229,222],"tags":[775,514,898,629,668,551,897,896],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inflation: what do the latest data reveal about UK prices? - Economics Observatory<\/title>\n<meta name=\"description\" content=\"UK inflation has risen to 3.2%. This increase in part reflects the impact of the Government\u2019s Eat Out to Help Out scheme which lowered the price of dining out last year. Sustained price rises and evidence of a tighter labour market raise an important policy conundrum for the Bank of England.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation: what do the latest data reveal about UK prices? - Economics Observatory\" \/>\n<meta property=\"og:description\" content=\"UK inflation has risen to 3.2%. This increase in part reflects the impact of the Government\u2019s Eat Out to Help Out scheme which lowered the price of dining out last year. Sustained price rises and evidence of a tighter labour market raise an important policy conundrum for the Bank of England.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices\" \/>\n<meta property=\"og:site_name\" content=\"Economics Observatory\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-15T16:11:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.economicsobservatory.com\/test\/wp-content\/uploads\/2021\/09\/visualization-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"461\" \/>\n\t<meta property=\"og:image:height\" content=\"362\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@econobservatory\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices\",\"url\":\"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices\",\"name\":\"Inflation: what do the latest data reveal about UK prices? - Economics Observatory\",\"isPartOf\":{\"@id\":\"https:\/\/www.economicsobservatory.com\/test\/#website\"},\"datePublished\":\"2021-09-15T10:55:14+00:00\",\"dateModified\":\"2021-09-15T16:11:31+00:00\",\"description\":\"UK inflation has risen to 3.2%. 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Sustained price rises and evidence of a tighter labour market raise an important policy conundrum for the Bank of England.","og_url":"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices","og_site_name":"Economics Observatory","article_modified_time":"2021-09-15T16:11:31+00:00","og_image":[{"width":461,"height":362,"url":"https:\/\/www.economicsobservatory.com\/test\/wp-content\/uploads\/2021\/09\/visualization-1.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_site":"@econobservatory","twitter_misc":{"Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices","url":"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices","name":"Inflation: what do the latest data reveal about UK prices? - Economics Observatory","isPartOf":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#website"},"datePublished":"2021-09-15T10:55:14+00:00","dateModified":"2021-09-15T16:11:31+00:00","description":"UK inflation has risen to 3.2%. This increase in part reflects the impact of the Government\u2019s Eat Out to Help Out scheme which lowered the price of dining out last year. Sustained price rises and evidence of a tighter labour market raise an important policy conundrum for the Bank of England.","breadcrumb":{"@id":"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.economicsobservatory.com\/test\/inflation-what-do-the-latest-data-reveal-about-uk-prices#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.economicsobservatory.com\/test\/"},{"@type":"ListItem","position":2,"name":"Inflation: what do the latest data reveal about UK prices?"}]},{"@type":"WebSite","@id":"https:\/\/www.economicsobservatory.com\/test\/#website","url":"https:\/\/www.economicsobservatory.com\/test\/","name":"Economics Observatory","description":"","publisher":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.economicsobservatory.com\/test\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.economicsobservatory.com\/test\/#organization","name":"Economics Observatory","url":"https:\/\/www.economicsobservatory.com\/test\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/","url":"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png","contentUrl":"https:\/\/www.economicsobservatory.com\/wp-content\/uploads\/2021\/06\/Logo-for-Twitter.png","width":540,"height":392,"caption":"Economics Observatory"},"image":{"@id":"https:\/\/www.economicsobservatory.com\/test\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/econobservatory","https:\/\/www.linkedin.com\/company\/economics-observatory\/"]}]}},"_links":{"self":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/question\/14419"}],"collection":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/question"}],"about":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/types\/question"}],"version-history":[{"count":15,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/question\/14419\/revisions"}],"predecessor-version":[{"id":14448,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/question\/14419\/revisions\/14448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/media\/14426"}],"wp:attachment":[{"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/media?parent=14419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/categories?post=14419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.economicsobservatory.com\/test\/wp-json\/wp\/v2\/tags?post=14419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}