Halifax July Figures show slowdown in price falls

WTF?_2

chucky wrote: »

you really, really are the best at everything you do you know... how do you manage being so brilliant!?!?

no wonder NeverDesparGirl presses the Thanks button on so many of your posts.

hold on.... are you the same person?

Why don't you GROW UP and actually address some points in my posts rather than childishly snipe because you can't answer them?

neverdespairgirl

chucky wrote: »

hold on.... are you the same person?

Nope. A quick look at our writing styles shows considerable differences, for a start.

WTF?_2

chucky wrote: »

stating a fact about the coincidence of the use of the Thanks button is not a snipe - it's 100% fact.

Amazing how you seem to be so adroit at couting use of the thanks button by various posters yet don't seem to have noticed prices of everyday stuff going up by considerably more than headline CPI ...... :rolleyes:

Max_Headroom_3

chucky wrote: »

stating a fact about the coincidence of the use of the Thanks button is not a snipe - it's 100% fact.

And relevent how..?

Generali

Paul_N wrote: »

But as you say, CPI is a proxy for inflation, not actual inflation. What is the real inflation figure? Does our basket of goods truely reflect the country's inflation? Can we really compare our inflation to other country's when the basket of goods for each country is different?

The government are calling for wage restraint, and I understand that. But if inflation rises to say 5% over the course of a year, and then falls back to 2%, that 5% inflation has been locked in. A fall back to 2% doesn't mean prices have dropped to what they were before we saw the 5% inflation, it simply means things have stopped getting dearer, but the higher prices are still there.

So if wage demands are to remain subdued, the average person in this country is going to get noticably poorer over the next couple of years. But I suspect they have been getting steadily poorer for the last decade, we just haven't noticed so much because inflation has been relatively low, and we've been allowed to binge on debt. How long can it go on for?

The reality is that we all face our own personal rate of inflation so anything is a proxy really. RPI seems to work pretty well most of the time for most people. I guess in unusual times like now when a few items are rising rapidly in price (food and fuel) whereas most things are falling or are static in price (houses being a prime example) then RPI becomes less useful as the way you chose to spend your money is much more pertinent when looking at your inflation rate.

The fact remains that for most people, inflation isn't really very high either by the post-war standards of the UK or by international comparison. Inflation may become a problem but it isn't such a big one right now.

My belief is that we face deflation anyway as food supplies return to normal and oil prices come down. They're the only things driving inflation right now and they're not just set to level out but to fall in price.

keeprenting

chucky wrote: »

you really, really are the best at everything you do you know... how do you manage being so brilliant!?!?

no wonder NeverDesparGirl presses the Thanks button on so many of your posts.

hold on.... are you the same person?

NDG is always generous with her use of the Thanks button, not just in relation to !!!!!!?'s posts.

WTF?_2

Some hard facts on price rises for chucky who has been so busy counting 'thanks' clicks on my posts by NDG that he's neglected to notice the scale of real world price rises compared to government inflation figures:

Heating oil price doubles in 12 months.
http://www.iceenergy.co.uk/home-owner-_15/heating-oil-prices-double-in-12-month-_210/




Diesel price up 37% over last year:

In July 2007, UK average for diesel 97.2p/l:
http://www.theaa.com/onlinenews/allaboutcars/fuel/2007/July2007.doc
In Jan 2008, UK average for diesel 109.2p/l:
http://www.theaa.com/onlinenews/allaboutcars/fuel/2008/january2008.pdf
In July 2008, UK average for diesel 133.1p/l:
http://www.theaa.com/onlinenews/allaboutcars/fuel/2008/july2008.pdf


Food price inflation at 9.5% in August 2008:

http://business.timesonline.co.uk/tol/business/economics/article4469846.ece


Electricity and gas price rises:

British gas raise prices by 35% (gas) and 9% (electricity). British Gas gas price up 56% on year.
EDF gas up 22% and electricity up 17%:
http://www.moneysupermarket.com/c/articles/utilities/british-gas---shock-price-increase/?Source=COMMS

Generali

!!!!!!? wrote: »

Some hard facts on price rises for chucky who has been so busy counting 'thanks' clicks on my posts by NDG that he's neglected to notice the scale of real world price rises compared to government inflation figures:

Heating oil price doubles in 12 months.
http://www.iceenergy.co.uk/home-owner-_15/heating-oil-prices-double-in-12-month-_210/




Diesel price up 37% over last year:

In July 2007, UK average for diesel 97.2p/l:
http://www.theaa.com/onlinenews/allaboutcars/fuel/2007/July2007.doc
In Jan 2008, UK average for diesel 109.2p/l:
http://www.theaa.com/onlinenews/allaboutcars/fuel/2008/january2008.pdf
In July 2008, UK average for diesel 133.1p/l:
http://www.theaa.com/onlinenews/allaboutcars/fuel/2008/july2008.pdf


Food price inflation at 9.5% in August 2008:

http://business.timesonline.co.uk/tol/business/economics/article4469846.ece


Electricity and gas price rises:

British gas raise prices by 35% (gas) and 9% (electricity). British Gas gas price up 56% on year.
EDF gas up 22% and electricity up 17%:
http://www.moneysupermarket.com/c/articles/utilities/british-gas---shock-price-increase/?Source=COMMS

Houses down 11%, clothes prices falling, electronics falling in price, furniture down too (I think). Oil is 20% off it's peak too (link)

If you pick out a few things that are rising in price, that's not inflation, it's just a bunch of stuff that costs more this year than last.

WTF?_2

Generali wrote: »

Houses down 11%, clothes prices falling, electronics falling in price, furniture down too (I think).

If you pick out a few things that are rising in price, that's not inflation, it's just a bunch of stuff that costs more this year than last.

There's a bit of a trend which is quite important:

* Stuff that's going up in price - everyday essentials

* Stuff that isn't going up in price - non essentials (I don't count paying a fortune to own a house as an essential. Renting is good enough to put a roof over your head and I can only say that my personal rent has been static over the last 18 months).


Go back to my original post which chucky took issue with ...

Inflation currently sits around 3.8%, probably increasing to closer 5% next year. somehow your figures don't stack up.

.... you'll find that in fact my figures do stack up.


And yes, I've certainly noticed that house prices are coming down

dopester

Generali wrote: »

Houses down 11%, clothes prices falling, electronics falling in price, furniture down too (I think). Oil is 20% off it's peak too (link)

If you pick out a few things that are rising in price, that's not inflation, it's just a bunch of stuff that costs more this year than last.

The inflationary blow-off (prior to deflation) in some sectors doesn't bother me... given prices are falling in others.

Who cares if my petrol is an extra £20 a week, when, on just June figures alone, I'm saving £900 a week on an average house, simply by not buying in a falling market. The savings are flooding in.