UK inflation rate falls to 1.7%

grizzly1911

wotsthat wrote: »

Most people are sensible enough to realise that the typical basket will be different to their own.

I think you're suggesting, however, that the basket is manipulated to contain non-typical items with the intention of delivering a lower inflation figure than the true typical basket. This doesn't seem to be sensible to me but does seem to have a following.

If the creation of and measurement, recording and analysis is so transparent why do we need to have very highly paid statisticians/economists to work it out and present the data?

I have lost the link to the manual, following a PC upgrade, but it had a lot of "room for interpretation" in the guidance.

I am sure the figure is correct.

wotsthat

grizzly1911 wrote: »

If the creation of and measurement, recording and analysis is so transparent why do we need to have very highly paid statisticians/economists to work it out and present the data?

Transparency doesn't equal uncomplicated.

grizzly1911 wrote: »

I have lost the link to the manual, following a PC upgrade, but it had a lot of "room for interpretation" in the guidance.

Hardly surprising. I can't even imagine the complexity of the process and the huge amounts of data involved.

robmatic

grizzly1911 wrote: »

If the creation of and measurement, recording and analysis is so transparent why do we need to have very highly paid statisticians/economists to work it out and present the data?

I have lost the link to the manual, following a PC upgrade, but it had a lot of "room for interpretation" in the guidance.

I am sure the figure is correct.

So much for people not spending money on consumer electronics...

Generali

BillJones wrote: »

He's 30bp off the target, 0.3%.

You need to check the source of your data.

If prices should have risen from 100 to 102 but rose instead to 101.7 then he's missed the targeted riss by 0.3 being 2.0-1.7.

0.3/2.0 = 0.15 or 15%.

You should check your maths.

purch

Or Math, if you speak Americano

P.S. CPI has now become so boring and "predictable"

Thrugelmir

robmatic wrote: »

So much for people not spending money on consumer electronics...

I bought a NAIM unit the other day.

At least the Company is British (in part).

michaels

So say we saw a sharp fall in for example energy prices and the indicies went negative would that be beneficial disinflation or dangerous deflation? Looks like Europe is going negative soon and unconventional monetary policy is being touted.

chewmylegoff

I agree with purch - CPI is so predictable it has become dull as ditchwater. I would much rather hear about a random MSE poster's personal inflation rate. Perhaps someone could volunteer to calculate it every month and then each month we can all argue about how much of a !!!!!! that poster is.

Hopefully this will catch on in the media and BBC1 will start reporting the Devonian fuel price index each month or the stuff MrRee has pretended to buy this month index etc. This would be far more entertaining than listening to the excruciatingly dull product of some statistician's wet dream.

Thrugelmir

michaels wrote: »

So say we saw a sharp fall in for example energy prices and the indicies went negative would that be beneficial disinflation or dangerous deflation? Looks like Europe is going negative soon and unconventional monetary policy is being touted.

If asset prices fall then European banks will come under even greater pressure than they are already. Deflation could cause a downward spiral.

BillJones

Generali wrote: »

You should check your maths.

I could, but I bow down to the forum's expertise, and am revising how I send out my daily P+L reports on my inflation trading portfolio.

Let no-one say that I'm unwilling to learn from the exerts.