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Inflation rises to 3.5% (or falls to 3.6% for the rose tintacle brigade!)
Comments
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More [STRIKE]surprising[/STRIKE] unsurprising news from someone from the BoE today.
http://www.bbc.co.uk/news/business-177532350 -
Graham_Devon wrote: »So once I say something, i'm never allowed to reaccess what I stated as time moves on and policies are implemented?
What's your problem Jonny?
There was no sarcasm in my post.
I'm saying you are allowed to reassess your position.
Why are you looking for a problem?0 -
JonnyBravo wrote: »There was no sarcasm in my post.
I'm saying you are allowed to reassess your position.
Why are you looking for a problem?
I assumed your posts were sarcastic. If it's my bad then I apologise. Just assumed you were joining in the rest from previous experience.0 -
He's certainly much more intelligent than you or I.
Usually rate your posts but have to disagree with this point - I know where he went to school...."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 -
It is on average. What your personal inflation rate is depends on how you spend your money. If you spend a lot of your income on food it might be higher right now. If you spend it on healthcare or recreation then it will be lower. If you live on the streets and spend your entire income on alcohol and tobacco then your inflation rate is about 8%!
Inflation will be different for different consumers as you point out but the example is disingenuous. The old and those on fixed incomes are being hit very hard -food/fuel, water rates, transport for example are all rising above the headline figure probbaly closer to 10 -15%
If you have a vehicle then petrol/diesel has also risen way above the headline rate for the last 2/3 years. Unfortunately those costs continue to "fuel" all other inflation too.
QE/Devaluation are crippling many in this country fact.
The Government and B of E are out of touch at the micro level."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 -
What I'd like to know is the inflation rate over the last 5 years. Instead of measuring it on a YOY basis.
Always amuses me that petrol can be going up and breaking records, but inflation reports it as falling. Correct of course, as they are measuring how fast it's rising, and it's rising at a slightly slower pace this year.
But to the consumer, the rises are relentless, especially with todays low (if at all) wage inflation.
Can anyone tell me, or point me in the direction of somewhere that's looked at inflation over the last say four years? We could then see, for example, just how much worse off a public sector worker, with no wage rises, actually is, rather than looking purely on how fast prices are rising and suggesting it's getting better as petrol only went up 4p this week, whereas in this week last year it went up 5p.
Media outlets don't help, by suggesting budgets can go further if the pace of increases subsides. Budgets don't go further at all.
Inflation and the way it's measured, kind of masks the true reality out there, especially with todays wage issues.0 -
Graham_Devon wrote: »What I'd like to know is the inflation rate over the last 5 years. Instead of measuring it on a YOY basis.
Always amuses me that petrol can be going up and breaking records, but inflation reports it as falling. Correct of course, as they are measuring how fast it's rising, and it's rising at a slightly slower pace this year.
But to the consumer, the rises are relentless, especially with todays low (if at all) wage inflation.
Can anyone tell me, or point me in the direction of somewhere that's looked at inflation over the last say four years? We could then see, for example, just how much worse off a public sector worker, with no wage rises, actually is, rather than looking purely on how fast prices are rising and suggesting it's getting better as petrol only went up 4p this week, whereas in this week last year it went up 5p.
Media outlets don't help, by suggesting budgets can go further if the pace of increases subsides. Budgets don't go further at all.
Inflation and the way it's measured, kind of masks the true reality out there, especially with todays wage issues.
Don't have time at the mo - but for fuel was affecte dby the £/$ slidefrom 2007. Devaluation against most amjor currencies was between 20-30% So that is where 4-5% of inflation came from before commodity price increases making it closer to 10%p.a.
The problem is peoples real baskets of consumption aren't really reflected in RPI /CPI statistics."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 -
It's a single months data showing no change and comes of the back of 5 months of falling inflation.
The trend remains downward. Surely the one thing we've learnt in the last few years is that things don't move in straight lines.
It gets a bit more Mumsnet every day around here.
Regarding your mumsnet jibe, we now have the reaction, and it seems I wasn't that far off the mark suggesting it wasn't good.
It may have only been a months data but...
The deputy governor suggests it was "bad". Adam posen has changed his long term stance for more stimulus based on this one months data. Others are worried based on this one months data that the credibility of the BOE was under threat. Extra QE has all but been binned. The BOE have had to come out and acknowledge that their previous prediction of inflation around 2% this year is "probably" wrong. The treasury select comittee are asking for compensation for retiree's.
So maybe you should write a letter to Paul Tucker & his chums at the BOE, and suggest he does some research on mumsnet eh?0 -
Graham_Devon wrote: »Regarding your mumsnet jibe, we now have the reaction, and it seems I wasn't that far off the mark suggesting it wasn't good.
It may have only been a months data but...
The deputy governor suggests it was "bad". Adam posen has changed his long term stance for more stimulus based on this one months data. Others are worried based on this one months data that the credibility of the BOE was under threat. Extra QE has all but been binned. The BOE have had to come out and acknowledge that their previous prediction of inflation around 2% this year is "probably" wrong. The treasury select comittee are asking for compensation for retiree's.
So maybe you should write a letter to Paul Tucker & his chums at the BOE, and suggest he does some research on mumsnet eh?
I don't recall saying it was good either - just no point getting into a tiz about it.
I don't know Adam Posen but if he's seen inflation go from 3.5% to 3.6% and this single piece of data has drastically changed his outlook then I'd suggest he's mental or you've misunderstood what he's said.
I'll just get Paul Tucker to PM you if he needs some advice. What's your username on Mumsnet?0 -
You haven't even been spelling in right!Graham_Devon wrote: »It's probably escaped your notice that this dunce has been calling inflaiton correctly for the last 2 years. I was also the closest on where base rates would end up, stating 1.5% in 2008.
I don't need mumsnet thanks...and this was the ignorant part.
Food & petrol, insurance, train fares, ...It is on average. What your personal inflation rate is depends on how you spend your money. If you spend a lot of your income on food it might be higher right now. If you spend it on healthcare or recreation then it will be lower. If you live on the streets and spend your entire income on alcohol and tobacco then your inflation rate is about 8%!
Yup.grizzly1911 wrote: »Inflation will be different for different consumers as you point out but the example is disingenuous. The old and those on fixed incomes are being hit very hard -food/fuel, water rates, transport for example are all rising above the headline figure probbaly closer to 10 -15%
If you have a vehicle then petrol/diesel has also risen way above the headline rate for the last 2/3 years. Unfortunately those costs continue to "fuel" all other inflation too.
QE/Devaluation are crippling many in this country fact.
The Government and B of E are out of touch at the micro level.0
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