Erosion of savings by inflation

masonic

Just for giggles I gave it a whirl as well and came out at 1.6%, or 1.4% below the national average. I doubt my personal inflation rate is currently CPI-1.4%.

newatc

Mine was 1.3% and I believe it as it makes me feel better.

Thrugelmir

Swipe said:

Gary1984 said:

https://www.rathbones.com/personal-inflation-calculator

Considering I only filled in about 6 fields it came out at 4.3% which can't be right. My main cost is shopping (which seems cheaper than ever at Lidl, apart from my 5 or 6 bottles of craft ale at the weekend) and insurance which completely skewed the results. My car insurance has stayed about the £180-190 mark and house insurance has gone up from about £212 to £250 because I had a claim.

Fuel would provide an offset at the current time. 

DiggerUK

I'm guessing that in common with others, my view on the official inflation figures err on the side of caution, as in "really, well I see your figures but I'll add on a percentage and a bit to make sure I'm following the best financial strategy for now"

I seem to notice that the results most of you have arrived at are not in line with official figures. But that nice person from the government really is here to help you.......honest..._

Linton

DiggerUK said:

I'm guessing that in common with others, my view on the official inflation figures err on the side of caution, as in "really, well I see your figures but I'll add on a percentage and a bit to make sure I'm following the best financial strategy for now"

I seem to notice that the results most of you have arrived at are not in line with official figures. But that nice person from the government really is here to help you.......honest..._

Of course most people take that view but they cant usually back it up by real data.  I have been monitoring my expenditure at a detailed level for over 15 years.  To take the 10 years May 2009 to May 2019 my basic annual expenditure increased by about 10% without any attempt to economise whilst CPI increased by 25%.

EdGasketTheSecond

Linton said:

DiggerUK said:

I'm guessing that in common with others, my view on the official inflation figures err on the side of caution, as in "really, well I see your figures but I'll add on a percentage and a bit to make sure I'm following the best financial strategy for now"

I seem to notice that the results most of you have arrived at are not in line with official figures. But that nice person from the government really is here to help you.......honest..._

Of course most people take that view but they cant usually back it up by real data.  I have been monitoring my expenditure at a detailed level for over 15 years.  To take the 10 years May 2009 to May 2019 my basic annual expenditure increased by about 10% without any attempt to economise whilst CPI increased by 25%.

You obviously don't have to use the railways then.

Prism

EdGasketTheSecond said:

Linton said:

DiggerUK said:

I'm guessing that in common with others, my view on the official inflation figures err on the side of caution, as in "really, well I see your figures but I'll add on a percentage and a bit to make sure I'm following the best financial strategy for now"

I seem to notice that the results most of you have arrived at are not in line with official figures. But that nice person from the government really is here to help you.......honest..._

Of course most people take that view but they cant usually back it up by real data.  I have been monitoring my expenditure at a detailed level for over 15 years.  To take the 10 years May 2009 to May 2019 my basic annual expenditure increased by about 10% without any attempt to economise whilst CPI increased by 25%.

You obviously don't have to use the railways then.

That gives me an example of where numbers can get hidden. I use rail travel for work and use a lot of hotels. Last year I spent about 10k on train and hotels and this has definitely increased in cost over the last 10 years. However not a single bit of that increase affects me directly as it is all charged through the company. So some other company foots the bill. And they charge some other company more for those services because people like me cost more to get there. Someone who has spent their own cash on getting rail season tickets to London just to get to work will feel those changes far more directly.

This increase does filter through eventually but it means that personal inflation can be wildly different.