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4.2% Anyone ?
Comments
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Its not good news at all. Inflation has been around 5% for years yet average wages have barely moved. There is no sign at all of this changing in the near to medium term, even if Labour get back in next time.
That means that in real terms, living standards are falling noticeable for most people each year and will likely continue to do so for 3 - 6 years.
The only thing that would raise living standards would be deflation, which would be ruinous in all sorts of other ways.0 -
ruggedtoast wrote: »Its not good news at all. Inflation has been around 5% for years yet average wages have barely moved. There is no sign at all of this changing in the near to medium term, even if Labour get back in next time.
That means that in real terms, living standards are falling noticeable for most people each year and will likely continue to do so for 3 - 6 years.
The only thing that would raise living standards would be deflation, which would be ruinous in all sorts of other ways.
Inflation has been around 5% for years?0 -
angrypirate wrote: »Even a stopped clock is correct twice a day. Merv has been saying inflation will fall now for over 2 years.
Merv has no control over world commodity prices nor vat increases to 20%.If I don't reply to your post,
you're probably on my ignore list.0 -
ruggedtoast wrote: »Its not good news at all. Inflation has been around 5% for years yet average wages have barely moved. There is no sign at all of this changing in the near to medium term, even if Labour get back in next time.
That means that in real terms, living standards are falling noticeable for most people each year and will likely continue to do so for 3 - 6 years.
The only thing that would raise living standards would be deflation, which would be ruinous in all sorts of other ways.
While not being at 5% for years, living standards are falling and will continue to do so, the days of progress for the majority are over.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0 -
No, but slashing rates was a deliberate attempt to, amongst other things, devalue the pound to make our exports more attractive. The downside of this is that our imports become more expensive including commodity prices.Merv has no control over world commodity prices nor vat increases to 20%.
Dont give the VAT excuse - CPI has been continually above target when you strip it out.0 -
Inflation has been around 5% for years?
Probably more for the less well off who don't buy consumer items every six months.
Underlying expenses that we can't escape, have been rising faster, fuel, food, public transport."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I Cant believe Cameron says that executives who fail should be held responsible yet he gives merv a knighthood.0
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angrypirate wrote: »No, but slashing rates was a deliberate attempt to, amongst other things, devalue the pound to make our exports more attractive. The downside of this is that our imports become more expensive including commodity prices.
Dont give the VAT excuse - CPI has been continually above target when you strip it out.
Spot on -
Posted this response (12/11) as a reply to another thread elsewhere about how the GBP has devalued since 1/2008.
"http://www.oanda.com/currency/historical-rates/
1/2008 -/todate
USD 1.965/1.56 -21%
CNY14.26/9.9 -31%
EURO 1.34/1.18 -12%
Taiwan Dollar 63.83/46.71 -27%
Swiss Franc 2.18/1.46 -33% - just out of interest as I like it there, it was over 3.0 when I first went:(
Edit:- AUSD -32%, NZD -20%, Gold -60%, JYEN -43%
It is another reason for fuel being high with light crude being roughly the same now as 2008 at 95/105USD/barrel level. Edit - Petrol rose form 90p to 107 rapidly 2007/2008 from which it has increased to 134 or +25%.
http://www.staveleyhead.co.uk/utilities/petrol-prices/""If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
RenovationMan wrote: »You can eat Blackberry's though.
Do you still get pips like the old call boxes though?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
ruggedtoast wrote: »Its not good news at all. Inflation has been around 5% for years yet average wages have barely moved. There is no sign at all of this changing in the near to medium term, even if Labour get back in next time.
.
It was minus (deflation) as recently as Oct 2009, funny how the mind can play tricks when it wants to 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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