Discuss your personal inflation rate

poppy10_2

goodquestion wrote: »

Apparently mine works out at pretty much the national rate, but a question re Student Loans, the 'interest' of these is set against the CPI, which would mean that it would 4.4% of the total amount, is that correct? Then surely that should be taken into account on my inflation calculator when my pay rise has been below the rate of inflation?

Student loan interest rate is based on the RPI in March of that year. Last year RPI was 4.8 in March, so that's what we've been paying from Sep 07 to Sep 08. From September this year we'll be paying 3.8%, because RPI in March this year dropped to 3.8%.

In 2006 RPI was only 2.4%!

Captain_Moonshine

I have kept an account of my spending for a good many years, and when I recently compared this year's spending on essentials with last years, there was an increase of around 16%, with no increase in consumption, or maybe even a slight reduction! For me that is the true rate of inflation, and the one on which I will be basing my next pay claim.

Those essentials now cost around 8 times what they did in the mid 70s, yet if I still worked in the same job (bus driving) I would only be earning around 3.5 times what I did then, according to the current advertised rates. I thought we were all supposed to be better off now?

hillmoore

Like Captain Moonshine I keep a very careful record of my expenditure and my personal rate of inflation in Feb 2010 was 4.6%. This excludes this months rises in the fuel duty escalator, TV licence, Postal charges, Council Tax plus higher petrol charges. It is interesting to note that the rate for September which triggers any Pension increase was 2% not the minus 1.4% used by the Government.
I am a Pensioner so we did get a little help with a rise in the BASIC rate only of £124.80. Unfortunately with no rise in allowances and since I get more than £22900 my tax bill is increased to £94.80!!

Streethawk_2

I'm also running clos to 8% and have been for some time it seems, apart from the obvious recessional dip. Interesting, as I'm in my third year now on the same un-increased salary...

Did I say interesting? I meant painful, sorry.

Stompa

Hmmm, currently 2.6%, I guess that's not too bad.

23rdian

Over 9%

b******s