Thursday, Jul 16, 2009
Brown must be on drugs!! Or figures are fluffed!!
Yahoo: Brown questioned in parliament
"The record of the Bank in controlling inflation has been very good indeed.
"Inflation has been far less of problem in the last ten years than in any previous decade and that is the success of making the BoE independent."
Posted by mark @ 10:39 AM (751 views) Add Comment
8 Comments
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1. little professor said...
There's no denying that inflation has been better controlled over the last ten years than it has since the second world war - not sure what your issue is with this, mark.
2. little professor said...
Inflation since 1948:
3. mark said...
LP
My issue is I have never known bills and food costs to be so high... the graph is that based on government supplied figures?
4. little professor said...
mark - you should know better than to to use the 'daily mail'-style tactic of using personal anecdotals as a way to refute hard facts and figures :p.
I'm a relatively young 'un, but even I can remember food prices being much higher relative to incomes back in the 80s. We've had continual food deflation for at least 15 years, which is why the increase in prices over the last eighteen months has come as such a shock to people. Big ticket items such as televisions and other electrical items are also far cheaper - my family paid more for a crappy 14" CRT telly in the 80s than I have just paid for my 37" plasma.
Now, whether the low inflation over the last ten years has been anything to do with Brown's policies or rather the effect of China's industrial explosion essentially subsidising the rest of the world is a matter for debate. But the actual fact that inflation has been lower and more stable in the last ten years is surely irrefutable.
5. symo said...
Don't worry lp; food inflation is coming.
6. crunchy said...
Little professor
Mortgages are three times what they were only ten years ago. THATS MASSIVE INFLATION. Work it out, Do'h!
Rents are also way up on what they were 10 years ago.
Need I mention council tax rises of 10% per annum over the last decade and all the rest of those little essentials you have overlooked.
Just wait for the spark that ignites the dynamite cord. Charts do tell lies when they are the wrong ones.
I wonder why you and I never got along? LOL.... Adios!
7. mr g said...
LP @ 4 said "I'm a relatively young 'un, but even I can remember food prices being much higher relative to incomes back in the 80s. We've had continual food deflation for at least 15 years"
Just tell me where you live LP and i'll move there regardless of house prices. In this part of the world, (Yorkshire), food prices are a higher percentage of income than they have ever been.
8. Dantheman said...
I sometimes wonder what planet LP lives on. Would you like me to post comparisons of Gas bills from 2000, to 2009?