Saturday, Jan 13, 2007
Fools not being fooled
Firstrung: Consumers on a financial website survey believe the realistic inflation figure is closer to 7.4%
The Government grossly underestimates inflation figures according to new findings of an online survey by independent personal finance website Fool.co.uk. According to almost 1,500 Fool.co.uk readers, the Government's inflation figures are wrong. An overwhelming 90% of people believe that inflation in the UK is running at well above the Government's figure of 2.7%. On average consumers reckon that a more realistic figure for annual inflation is 7.4%. Over two-thirds of respondents said that in their estimation, the true rate of inflation is in the region of 4% to 9%. Worryingly, 1 in 4 people said their household inflation is more likely to be 10% to 15%!
Posted by converted lurker @ 06:20 PM (150 views) Add Comment
9 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. enuii said...
Council tax should be added in as well along with all those other little tax-increases that are sapping the nations wealth.
2. Nohpc said...
yawn yawn
3. Nohpc said...
Addiing council tax in would be completely idiotic. Can you imagine the scenario.....
Quote from the BoE "Interest rates to rise to 5.75% to combat inflation caused by the surprise upsurge in the cost of council tax"
Even worse than blaming furniture!! . One day when you are indebted with a sizeable mortgage you will change your tune enuii.
And if you never are in this situation you will never buy or you make enough money to have big enough savings to buy outright in which case you will always want high rates.
4. Northernlad said...
Unfortunately most of the people who use fool.co.uk are moneywise....most of the population isn't.
5. converted lurker said...
yes I agree northern lad, they are 'sussed' for the most part, still one helluva readership though, and plenty of it comes from mainstream sources
6. Bob Monkhouse said...
what a load of *****. Fool readers think ummm, ahhh, lets have a guess.... 7% inflation....yeah, thats it 7%.
7. enuii said...
Thanks for that gem of wisdom nohpc, unfortunately I am sitting on a large pile (not a hemarroid) of equity. You sound as though you are worrying about the possibility of dropping negative on yours. I agree inflation is not the enemy here as wages in a healthy economy will generally go up with it, inflation was great in the 1970's if you didn't have money but bad if you had savings or investments. I would worry about three things namely a) the future state of the general UK economy b) bad debt and c) taxation levels. Reducing disposable incomes, increasing unemployment and more cautious lenders will soon put a dent in property values. Unlike you nohpc I am not looking out for myself, I am thinking about the next generation of house buyers and worrying about how this will affect their quality of life and financial prospects as they will be paying the price for todays property driven short-termism.
8. Dohousescrashinthewoods said...
My local station (Guildford) has put up it's daily car-park charge from £7.00 to £8.40 (yearly increase)
That's 20% on that item.
Last year, if I remember rightly, it went up from 6 to 7, which is about 16%.
9. Randomkevlar said...
Read all NoHPC posts as....me me me