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CPI up slightly

2

Comments

  • geneer
    geneer Posts: 4,220 Forumite
    "CPI up slightly" :rotfl:
    One way of spinning it.


    "mans leap from skyscraper is slightly higher than previously reported" I'm sure he will be alright.
  • IronWolf
    IronWolf Posts: 6,462 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    When will the BoE just admit that they don't care about inflation, their number 1 priority is economic stability. All this BS about "targets" is ridiculous. Unless we see double digit inflation the BoE isn't going to make a move.
    Faith, hope, charity, these three; but the greatest of these is charity.
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    IronWolf wrote: »
    When will the BoE just admit that they don't care about inflation, their number 1 priority is economic stability. All this BS about "targets" is ridiculous. Unless we see double digit inflation the BoE isn't going to make a move.

    Agreed.

    I wouldn't call inflation 'desirable' but I'm sure the Government classifies it as the least of the evils. There has been, and will continue to be, some 'targeted' moves to re-distribute. Income tax changes. Benefits reductions. Spending 'cuts'. But the debt still rises and it must be allowed to inflate away.

    Letting us all 'suffer' from inflation is about the only fair way of distributing our 'poverty' evenly across the board. Simple!
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    HAMISH_MCTAVISH wrote: »
    Do you really think the UK's contribution to the global monetary easing is responsible for even 0.1% of any of this imported inflation?
    The inflation figure is the net resultant of lots of swings and roundabouts. Some things go up, others go down. Not allowing some prices to fall (house prices, for instance) therefore contributes to inflation.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    StevieJ wrote: »
    Change the record ;) we are not getting poorer, we are poorer.

    and will get poorer for some time to come.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ILW wrote: »
    QE would have contributed to inflation. Not just IRs.

    It has. It has maintained assets prices.

    Without liquidity in the lending markets credit would have been in short supply.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Loughton_Monkey wrote: »
    Letting us all 'suffer' from inflation is about the only fair way of distributing our 'poverty' evenly across the board. Simple!

    Expect a significant increase in the basic personal allowance for tax in the budget. To accelerate distribution of wealth and make work more attractive than benefits.
  • Losing_the_way
    Losing_the_way Posts: 111 Forumite
    It'll be interesting to see how many more of the MPC vote for further QE this month. Its a long way off just yet but only one member supported this last month.
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    Losing_the_way wrote: »
    It'll be interesting to see how many more of the MPC vote for further QE this month. Its a long way off just yet but only one member supported this last month.
    Don't want to do anything decisive. Much better to dither until it's too little too late.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    Thrugelmir wrote: »
    Expect a significant increase in the basic personal allowance for tax in the budget. To accelerate distribution of wealth and make work more attractive than benefits.

    They are still aiming for £10K tax free, I expect. They won't get that far, however, until £10K is worth roughly £7.5K in 'today's terms'.

    It will be paid for, however, by an equivalent lowering of the higher rate threshold. Then, of course, will be the 'courageous' move to limit pension tax relief to basic rate only. This will put a few cats amongst pigeons, ruffle a few feathers, and kill two birds with one stone.
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