MSE News: Petrol prices help push inflation up

Former_MSE_Helen

"Inflation rose last month due to rising prices at the fuel pumps and shallower discounting by fashion retailers..."

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Petrol prices help push inflation up



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Wywth

I thought petrol prices were coming down?

e.g. This MSE news article from 17 May 2013
Petrol prices down, but cost hike fears remain

and this MSE news article from 24 June 2013
Asda, Morrisons, Sainsbury's and Tesco to cut petrol prices

[Deleted User]

Amazingly the supermarkets never issue a press release to say that they are raising prices.Petrol locally is now 2p per litre higher than 2 weeks ago.

VT82

They don't half leave themselves open to criticism when they write news stories, do they?

The last sentence of an article should be the full stop that ends it well, as it's the bit that lingers in the memory. But ending it with 'Price falls for sofa beds, carpets and settees also helped hold back inflation', is just hysterical.

:rotfl::rotfl::rotfl:... sofa beds ... :rotfl::rotfl::rotfl:

Excuse me boss, I don't need a pay rise any more because that futon I had my eye on has gone down by 5%:money:

pooch

Wywth wrote: »

I thought petrol prices were coming down?

e.g. This MSE news article from 17 May 2013
Petrol prices down, but cost hike fears remain

and this MSE news article from 24 June 2013
Asda, Morrisons, Sainsbury's and Tesco to cut petrol prices

I'm not sure if you are aware, but they compare prices to this time last year, not this time last month

jobdone1

What next, Ah yes to many ice creams sold due to the hot weather. Looks like we are in for a big inflation spike upwards in august lol.

Pincher

Bizarrely, inflation seems to have gone negative this year for motoring. I was paying £1.43 in the beginning of the year for diesel, with petrol around £1.39. Changed from a diesel car to a petrol, but I'm paying £1.32 for petrol now, which is less.

Bought a new car six years ago for £11k. Bought the same model this year, but updated, plus cruise control, rear parking sensor and SatNav thrown in, minus sunroof, paid £11k again this year. Considering sterling has depreciated in value compared to 2006, it's like paying £8k for the same thing I paid £11k for six years ago.

In January my car insurance premium was £450, but went down to £350 when I changed car in March. I thought it was the Insurance group of the new car, but it was premium in general.

[Deleted User]

Pincher wrote: »

Bizarrely, inflation seems to have gone negative this year for motoring.

That's the issue, in that inflation is subjective to the individual. The official figure will never match the effect we all see in our personal life as the official figure covers a very wide spread of items most of which I never buy.

What is important to me is the increase in my costs year on year and that value is higher than the official rates.