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Cpi+0.2%>2.90/rpi+0.2%>3.3%
Comments
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So it did, the post headline is wrong.
Still, down 0.2% is just noise too!
You are right gen it should be 2.9% not 2.95%.
I didn't state a time period and included the link but in Clapton's world everything is rosy and the nation is prospering.
We get enough pointless HPI increase headlines not quite sure why inflation shouldn't get a mention."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 -
That would suggest a doubling of bills in 7 years. Given my bill hasn't increased by 10% in any of the last seven years - why would I budget for 10% YoY increases for 7 years.
According to the telegraph article energy bills for the typical household have increased by 8% pa in the last 7 years. That's some way above inflation but I'd imagine it's also some way below what most people would guess as typical price increases.
Well done for shopping around.
Our bills fell quite a bit when we moved to DDR/Internet about 5 years back but have only gone north at each contract renewal. I don't have my bills to hand at the moment. If the average increase is around 8% why would 10% seem an unreasonable amount to budget for. It was a finger in the air response that is all.
Just think of the pleasure gained when you realise actuals show a slight undeshoot."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 -
Unless your spending pattern has changed your perception will be at odds with reality.
Why the essentials that go into our basket have only gone up, particularly bread, fruit and fresh vegetables.
Perhaps we only notice them because they only seem to go up in big jumps these days as the supernarkets tend to wait.
Whilst not all items have increased the crucial items certainly have."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: »You are right gen it should be 2.9% not 2.95%.
I didn't state a time period and included the link but in Clapton's world everything is rosy and the nation is prospering.
We get enough pointless HPI increase headlines not quite why inflation shouldn't get a mention.
Where appropriate, I post when CPI / RPI increases even when the headline says NO CHANGE or even FALL in inflation.
In this case the situation is that CPI and RPI both decreased in June.
The change in CPI and RPI on a 12 month basis increased.
The change in CPI and RPI is not directly related how rosy the economy is as that also involves changes in GDP and incomes.0 -
grizzly1911 wrote: »Our bills fell quite a bit when we moved to DDR/Internet about 5 years back but have only gone north at each contract renewal. I don't have my bills to hand at the moment. If the average increase is around 8% why would 10% seem an unreasonable amount to budget for. It was a finger in the air response that is all.
If I was trying to make a super safe budget for energy use then 10% might seem reasonable over the next 7 years. Given that the last 7 years have run at 8% pa and these are considered unprecedented rises you might be being over pessimistic for the next 7 years.
As my bill hasn't increased for years due to a combination of well timed fixes and continued energy saving I doubt I'll be paying anywhere near 10% pa over the next 7 years.
We're so well off in the UK that moneysaving is a productive hobby rather than a necessity.0 -
grizzly1911 wrote: »Why the essentials that go into our basket have only gone up, particularly bread, fruit and fresh vegetables.
Ironwolf reckons his essential food spend has increased by 10%.
I'd suggest that this was a guess influenced by the media rather than a calculation.
How much has your essential spending increased in the last year?
Mine's less as we're eating a little less meat and more vegetables. I've not looked at the breakdown of the inflation figures but I'd guess that meat had gone up by more than the headline rate of inflation and fruit & veg less.0 -
Ironwolf reckons his essential food spend has increased by 10%.
I'd suggest that this was a guess influenced by the media rather than a calculation.
How much has your essential spending increased in the last year?
Mine's less as we're eating a little less meat and more vegetables. I've not looked at the breakdown of the inflation figures but I'd guess that meat had gone up by more than the headline rate of inflation and fruit & veg less.
Not a guess, just observation.
For example the sandwich I usually buy at lunch has gone from £1.80 to £2. I used to buy 1kg of turkey for £6, now the size of the portion has been reduced to 800g, still £6. That's a 25% price increase and accounts for about half my food bill.Faith, hope, charity, these three; but the greatest of these is charity.0 -
Not a guess, just observation.
For example the sandwich I usually buy at lunch has gone from £1.80 to £2. I used to buy 1kg of turkey for £6, now the size of the portion has been reduced to 800g, still £6. That's a 25% price increase and accounts for about half my food bill.
Cathdral city cheese has gone from 400g to 350g, and it's now 300g!
Noticed last night actually as I opened a pack and thought it was incredibly thin while cutting it. Checked it out and 300g. They have kept the cheese the same length, so still looks like one of the large blocks, but cut down the width of it. Makes a mockery of cheese on toast! Slices no longer fit right!
Same price though.0 -
grizzly1911 wrote: »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
What do you mean it would have been higher if it wasn't for airfares? Air fares increased nearly 10% yoy so by any measure they are an upwards pressure. Further it's a bit silly to say that the rate of change of the price of a basket of goods would be different if the rate of change of the price of certain goods in that basket had been different. Of course it would, but that's the point isn't it?
Might as well just say "would have been higher if bananas had increased by more".0 -
Sainburys Bacon Crispies have gone from 65p to £1 in thee last 2 years. I'm going to take a second job as they are my favourite crisps.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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