Entrenched inflation

chucky

Wookster wrote: »

What does that mean? That Labour is better than the Tories?

Do you realise that we are only a small way into this depression and still have an extended period to run so whatever numbers you might see now, they are likely to be significantly different in two years.

which Depression??

has everyone missed something that only wookster knows about??

dealsearcher

If food inflation is 10% that is a large part of everyones expenditure as we buy food every day. The items that bring the inflation figures down, like plasma TV's, are mostly items that you buy rarely.

Petrol has reduced slightly recently. The utility companies are giving small reductions in gas and electric costs. In comparison to the enormous rises in costs of these over the last year the reductions are pitiful.

purch

only wookster knows about??

I dunno, but he's the only dope who can take a comment about different Inflation rates between the last and this recession, and make it into a Labour and Conservative argument !!!!

Rochdale_Pioneers

Wookster wrote: »

What does that mean? That Labour is better than the Tories?

Do you realise that we are only a small way into this depression and still have an extended period to run so whatever numbers you might see now, they are likely to be significantly different in two years.

Labour being better than the Tories is not anything to do with inflation, nor is that what I was saying. The poster said he didn't trust current inflation figures spun to mask Labour's disasterous policies or something along those lines. All I was doing was pointing out that inflation is about a third of what it was when we entered the last recession, and about a fifth of where it was at that recession's peak. If inflation picks up again next year then inflation will still be down vs last time.

And to respond to cogito yes inflation was high in the 70s as well - under both Tory and Labour governments by the way. The oil crisis saw to that.

harryhound

Rochdale_Pioneers wrote: »

And to respond to cogito yes inflation was high in the 70s as well - under both Tory and Labour governments by the way. The oil crisis saw to that.

In response first to the USA deficit financing the Vietnam war and then the UK (Tory) government losing its nerve on "honest" money.

No wonder OPEC saw its chance to push up oil prices.

However this time round the whole world is in trouble - we are in uncharted waters.