Steam displays the wrong download speed

[Λve]

I usualy have a download speed of 1.1 to 1.5Mb/s but when I started a download recently steam displayed a download speed of 12Mbit/s(don't know why it displayed Mbit/s and not Mb/s) but after looking at the time left and the time that it will take I calculated that is was more like 1.4Mb/s.
this was after I had gottedn the update steam pop and updated steam.

[Cathulhu]

8 Megabit = 1 Megabyte
12 Megabit = 1.5 Megabyte

You can select what number you want to be shown in the Steam client settings:
https://i.imgur.com/2f48ged.png