Monday, Jan 15, 2007
New website to work out personal inflation
BBC News: ONS highlights personal inflation
Members of the public can now work out their own personal inflation rate using an official government website. An online calculator will enable people to work out how their spending compares with national averages.
Posted by Webmaster @ 06:50 AM (188 views) Add Comment
4 Comments
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1. paul said...
And, indeed enables people to work out how much they should base their next pay raise on.
2. inbreda said...
"It will also help explain why people's experience of rising prices is often different from the official version."
But unfortunately it won't help to explain why EVERYONEs personal inflation is higher than the official version.
3. denzil said...
Roger Bootle of Capital Economics states that to beat inflation one must:
"Don't drink and smoke a lot and avoid restaurants like the plague.
"Also, don't have kids and if you do, definitely do not educate them privately."
I just have a picture of Bootle at a Christmas party loading his pockets with food.
The biggest problem with all this inflation measure stuff is the inflation measure used by the ONS.
It is conventiently flawed which is why just about everybody knows their inflation measure is some way
above 2.7%
Anyway, regarding pay settlements, surely employers and employees use the RPI (3.9% not CPI at 2.7%)?
4. Drewster said...
Has anybody tried using the inflation calculator yet? There are boxes to enter your monthly food expenditure, monthly rent, etc; but nowhere is there a box for the amount of money that I set aside each month to save up for a house. This amount has to increase by far above the rate of inflation.