FYI: Pound hits three-year low against euro

Eric_the_half_a_bee

StevieJ wrote: »

Get a grip it is 1.9%

Inflation is not 1.9%. RPI is 1.9%. The ONS, along with all competent statisticians, have confirmed that RPI is arithmetically flawed and is not a reliable indicator of inflation.

StevieJ

CLAPTON wrote: »

do you never substitute one product or service that has done up for an equally satisfactory alternative?
RPI include mortgage interest payments : many people in retirement are no affected by these

I am confused, the interest rates have gone down not up? anyway RPI also includes other property related costs e.g. council tax, and I am pretty sure that retirees pay that. The main difference is the method of calculation, the RPI being arithmetic mean and CPI geometric mean.

Conrad

StevieJ wrote: »

I am up about 14% since Brexit, as I say, along with the index linked, should limit the damage

I would hope, given your opinion of Britians abilities, that all your money is invested in foreign assets. Going to be such a laugh seeing Britian prosper and the Remoaners crowd all grumpy they called it so badly

CLAPTON

StevieJ wrote: »

I am confused, the interest rates have gone down not up? anyway RPI also includes other property related costs e.g. council tax, and I am pretty sure that retirees pay that. The main difference is the method of calculation, the RPI being arithmetic mean and CPI geometric mean.

I guess the answer is to always say which one is referring to rather than simply 'inflation'

StevieJ

Eric_the_half_a_bee wrote: »

Inflation is not 1.9%. RPI is 1.9%. The ONS, along with all competent statisticians, have confirmed that RPI is arithmetically flawed and is not a reliable indicator of inflation.

So how is this more accurate for someone who has to pay rent and council tax?

But the CPI leaves the costs of your home out of the basket – so rises in mortgage payments, rents, and council tax, which in real life you pay, don’t get reflected in it. The RPI does take account of those costs

https://www.statslife.org.uk/economics-and-business/33-rpi-versus-cpi-what-s-the-difference-why-does-it-matter-will-it-make-you-poorer-or-richer

StevieJ

Conrad wrote: »

I would hope, given your opinion of Britians abilities, that all your money is invested in foreign assets. Going to be such a laugh seeing Britian prosper and the Remoaners crowd all grumpy they called it so badly

Eggs and baskets come to mind

mayonnaise

Conrad wrote: »

I would hope, given your opinion of Britians abilities, that all your money is invested in foreign assets. Going to be such a laugh seeing Britian prosper and the Remoaners crowd all grumpy they called it so badly

Conrad mate, I don't really care much about grammar on forums, but can you stop this Britian thing? It's in your sig also.
Cheers.

mwpt

Eric_the_half_a_bee wrote: »

Get a grip. Inflation is 0.6%.

I found your post rude. I wasn't rude to you. I'm making general points in a discussion forum because I disagree with the notion that whatever seems to happen, it's always good news because we voted for brexit.

Eric_the_half_a_bee

mwpt wrote: »

I found your post rude. I wasn't rude to you.

Fair enough. I apologize and will edit my post.

AnotherJoe

Herzlos wrote: »

Well I lost about 3% of my pension pot since Brexit, because some of it is invested in Europe. We've decided to abandon holidaying abroad this year, so not affected there.

So I guess all I'll be affected by is the cost of goods going up as the cost of buying anything in will rise (being that we're a net importer). I used to by a lot of hobby supplies from Europe, but they've suddenly shot up in price.

3% is firstly not much above noise, nothing compared to other market events in the past (did you not suffer at least a 10% loss last autumn)? and being invested in Europe should have led to an increase due to the Euro rising in value. And what about US shares and The dollar? The rise in that should also have bumped up your pension, unless it's ridiculously skewed to UK shares and FT250 in particular.