Sunday, Jul 30, 2006
Inflation is low ... but only on the Chav Price Index
Times Online: Inflation is low ... but only on the Chav Price Index
It's one of the conundrums of new Labour: why in this “historic” era of low inflation are prices rising so quickly? Now the government’s own figures suggest it might be because Gordon Brown’s typical “shopping basket” used to assess the cost of living is chock-full of bargain items.
Posted by bobed @ 10:18 AM (30 views) Add Comment
3 Comments
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1. paul said...
This is another reason why interest rates will go up next week.
MPC credibility is at stake from all sides. Quite right it should be too. They've been lying for long enough.
2. Ticktock said...
Has not the windfall cash from the inflation of their property(s) compensated them in some way for the 'tough times' that they seemingly now encounter?
Also, if you adjusted for the fact that (real) wage inflation for 'blue collar' workers is significantly more 'subdued' (and likely to remain so for some time) than that of 'hard working/law abiding white collar workers', then the apparent lower CPI figures for what the Times clearly consider to be 'Working Class' products, can be more than off-set.
With the on-going Government attacks upon the conditions of the Working Class reaching such an extrodinary level, the bleats and whines of the molly-cuddled petty bourgeoisie seem very ugly indeed, and only serve to highlight how large is the growing gap between Middle Class perception and Working Class reality.
This is an epic, historical, National 'fault line', and history would seem to suggest that great caution should be employed regarding its supervision.
3. sirgoogle said...
Has anyone (eg a university) computed inflation using the old pre EMU indexes?? I would be very interested to see what these would say.