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Cpi+0.2%>2.90/rpi+0.2%>3.3%
grizzly1911
Posts: 9,965 Forumite
It would have been higher if not for air fares.
Summer clothing sales haven't dropped prices by as much either holding the figure up. Quite possibly because it hasn't rained anywhere as near as much this June.
Don't worry about Cypriot style savings attacks.
To beat inflation, a basic rate taxpayer at 20% needs to find a savings account paying 3.63% per annum, according to personal finance website Moneyfacts. However, no savings account is offering such a rate at the moment.
"The effect of inflation on savings means that £10,000 invested five years' ago, allowing for average interest and tax at 20%, would have the spending power of just £8,846 today," Moneyfacts claimed.
http://www.bbc.co.uk/news/business-23324635
Summer clothing sales haven't dropped prices by as much either holding the figure up. Quite possibly because it hasn't rained anywhere as near as much this June.
Don't worry about Cypriot style savings attacks.
To beat inflation, a basic rate taxpayer at 20% needs to find a savings account paying 3.63% per annum, according to personal finance website Moneyfacts. However, no savings account is offering such a rate at the moment.
"The effect of inflation on savings means that £10,000 invested five years' ago, allowing for average interest and tax at 20%, would have the spending power of just £8,846 today," Moneyfacts claimed.
http://www.bbc.co.uk/news/business-23324635
"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 Muruganantham
"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 Muruganantham
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Comments
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grizzly1911 wrote: »"The effect of inflation on savings means that £10,000 invested five years' ago, allowing for average interest and tax at 20%, would have the spending power of just £8,846 today," Moneyfacts claimed.
Of course invested at table topping rates the return would probably have been marginally postive so the 1154 loss is as a result of saver laziness rather than inflation...but then it is 'moneyfacts' that is being quoted.I think....0 -
Of course invested at table topping rates the return would probably have been marginally postive so the 1154 loss is as a result of saver laziness rather than inflation...but then it is 'moneyfacts' that is being quoted.
I guess the point is that if you are were earning 10K a year back then and you haven't had apay rise you may be closer to 8K in real terms now."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 -
Prices have fallen for essentials - potatoes, fruit, bread, cereals and dairy.
Good news for the poor.0 -
grizzly1911 wrote: »I guess the point is that if you are were earning 10K a year back then and you haven't had apay rise you may be closer to 8K in real terms now.
That is certainly true (subject to your own pesonal rate of inflation) but I don't think it was the point of the example quoted which relates to the erosion of the value of savings.I think....0 -
Prices have fallen for essentials - potatoes, fruit, bread, cereals and dairy.
Good news for the poor.
Not on our supermarket shelves, maybe next month but I won't hold my breath.
Almost time for the energy price increases.
Then there is the infrastructure and all those green bits to consider on top.
Household energy bills are likely to rise £100 a year more than the government projects, says the energy firm RWE Npower.
It says official predictions of future energy savings are over-optimistic and warns the average bill will rise £240 a year by 2020.
http://www.bbc.co.uk/news/business-23323318"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 -
grizzly1911 wrote: »Not on our supermarket shelves, maybe next month but I won't hold my breath.
Prices were down when the ONS checked.grizzly1911 wrote: »Almost time for the energy price increases.
Then there is the infrastructure and all those green bits to consider on top.
Household energy bills are likely to rise £100 a year more than the government projects, says the energy firm RWE Npower.
It says official predictions of future energy savings are over-optimistic and warns the average bill will rise £240 a year by 2020.
http://www.bbc.co.uk/news/business-23323318
According to the Telegraph the average household energy bill is £1400 (lord alone knows why people consume that much energy). An extra £240 over 6 years works out as a 2.65% increase each year - not too bad?
http://www.telegraph.co.uk/finance/personalfinance/consumertips/household-bills/10043967/How-energy-bills-have-soared.html0 -
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Mr._Pricklepants wrote: »Don't they mean +£240 a year until 2020?
NoThe firm warns that unless people strive much harder to reduce energy use, the average combined fuel bill in 2020 will be about £1,487 a year - that's £200 more than now and £100 more than the government projects.
ww.bbc.co.uk/news/business-233233180 -
mystic_trev wrote: »No
ww.bbc.co.uk/news/business-23323318Prices were down when the ONS checked.
According to the Telegraph the average household energy bill is £1400 (lord alone knows why people consume that much energy). An extra £240 over 6 years works out as a 2.65% increase each year - not too bad?
http://www.telegraph.co.uk/finance/personalfinance/consumertips/household-bills/10043967/How-energy-bills-have-soared.html
Methinks that additional £240 will purely be investment costs over and above actual bill costs (energy & overhead).
Take you bill increase it by 10% a year for the next 7 years and add £240."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 -
grizzly1911 wrote: »Methinks that additional £240 will purely be investment costs over and above actual bill costs (energy & overhead).
Take you bill increase it by 10% a year for the next 7 years and add £240.
Or start Fraking in earnest and pencil in 10% pa reductions before the 240 pa increase as a reuslt of green/infrastructure/govt sponsored reduction.
I suspect the 'infrastructure upgrade' increase is a bit like the Dartford Bridge toll that was originally introduced to pay for the bridge but surprise, surprise when the bridge was paid for the tolls were not removed....I think....0
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