Narrative:

Cleared by approach to descend to 11000 ft. At 11300 ft, controller asked us to verify altitude. We reported leveling at 11000 ft. Controller readout indicated 10300 ft. Controller advised us to stop squawk. About 30 seconds later, controller advised us to check altimeter (at current setting) and turn transponder back on. Controller stated readout now appeared normal.

Google
 

Original NASA ASRS Text

Title: MD80 FLC OVERSHOOT ASSIGNED ALT CAUSED BY INCORRECT ALTIMETER SETTING.

Narrative: CLRED BY APCH TO DSND TO 11000 FT. AT 11300 FT, CTLR ASKED US TO VERIFY ALT. WE RPTED LEVELING AT 11000 FT. CTLR READOUT INDICATED 10300 FT. CTLR ADVISED US TO STOP SQUAWK. ABOUT 30 SECONDS LATER, CTLR ADVISED US TO CHK ALTIMETER (AT CURRENT SETTING) AND TURN XPONDER BACK ON. CTLR STATED READOUT NOW APPEARED NORMAL.

Data retrieved from NASA's ASRS site as of July 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.