Shop Price 'Inflation' RISES

Really2

carolt wrote: »

Thanks for posting the thread. Happy to let anyone with more time on their hands than they ought to have read it for themselves.

You are funny, Really.

Very moody - are you having another of your grumpy days?

Cheer up - or is the snow starting to get on your nerves?

Or go make yourself some pasta to cheer up.

Only joking.

I am as easy to wind up as you carol.;)

purch

What does MULT stand for

I thought he was talking about !!!!!!'s haircut !!!!

Generali

We could of course create an average to measure changes in prices. Perhaps set up an averaged basket of goods reflecting the way that real people spend their money from a survey of a statistically relevant number of British residents. If we used a weightings system to create an index we could have an objective measure of inflation.

An index of retail prices. Any thoughts to what we could call it?

carolt

It's a god idea - but where the current ones fall down, as far as I'm aware is that they give equivalent weight to something you buy maybe every few years, when you have some spare cash, like a DVD player say, as they do to essentials you buy weekly if not more often - food, petrol etc.

I think there should be an 'essentials' index, as frankly counting luxuries in the basket during a recession makes it irrelevant for the many who now can't afford discretionary spending.

Really2

Generali wrote: »

We could of course create an average to measure changes in prices. Perhaps set up an averaged basket of goods reflecting the way that real people spend their money from a survey of a statistically relevant number of British residents. If we used a weightings system to create an index we could have an objective measure of inflation.

An index of retail prices. Any thoughts to what we could call it?

IRP?

Really2

Personaly I think they should split it more. not everyone buy an LCD TV each month.

They should split it like a budget say £2K

£500 food
£100 clothes
£100 electical

etc etc etc

so the inflation/deflation in certain areas mesures in real terms on what people spend.

boyse7en

Generali wrote: »

We could of course create an average to measure changes in prices. Perhaps set up an averaged basket of goods reflecting the way that real people spend their money from a survey of a statistically relevant number of British residents. If we used a weightings system to create an index we could have an objective measure of inflation.

An index of retail prices. Any thoughts to what we could call it?

Retail index prices of the British Economy
But that is a bit long, how about:

RIP British Economy

purch

Any thoughts to what we could call it?

I dunno, but it needs to include the word 'Guesstimate'

Rochdale_Pioneers

Generali wrote: »

We could of course create an average to measure changes in prices. Perhaps set up an averaged basket of goods reflecting the way that real people spend their money from a survey of a statistically relevant number of British residents. If we used a weightings system to create an index we could have an objective measure of inflation.

An index of retail prices. Any thoughts to what we could call it?

lol - there are several of those already! The point I was making was that the sample basket of goods uses the same goods every week. Which means they are succeptable to the mult(iple grocer)s putting the prices on those up.

If you are not loyal to a particular brand or retailer then prices are still low for almost everything - buy when the product you want is on a deal and you're laughing. People like me invest vast amounts of cash on promotions with the aim of gettting people like you to switch brands or buy my brands more often. As a shopper I am a total !!!!! and buy whatever is on deal, and many products ONLY when on deal. Thats the way to shop these days - be a !!!!!.

Generali

carolt wrote: »

It's a god idea - but where the current ones fall down, as far as I'm aware is that they give equivalent weight to something you buy maybe every few years, when you have some spare cash, like a DVD player say, as they do to essentials you buy weekly if not more often - food, petrol etc.

I think there should be an 'essentials' index, as frankly counting luxuries in the basket during a recession makes it irrelevant for the many who now can't afford discretionary spending.

They give different weights to different items depending on the proportion of income the average person spends their money on something over time.

Let's simplify things and say you can spend your money on 'housing' and 'not housing'. If you spend 30% of your income on housing and 70% on 'not housing' then if housing costs go up by 5% and not housing costs go up by 1%, the index will rise from 100 to (100*0.3*1.05)+(100*0.7*1.01) = 31.5 + 70.7 = 102.2 meaning an inflation rate for the period of 2.2%.