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Fiddling The Books

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The change was from the old retail prices excluding mortgage interest (RPIX) to the consumer price index (CPI), ostensibly bringing Britain into line with other countries, especially the eurozone.

http://www.guardian.co.uk/business/story/0...1584859,00.html

If this happens, it will be vintage Gordon Brown fiddling. If he had put house prices in the inflation numbers 5 years ago, we would have much lower house prices and falling or stable interest rates today.

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I assume you are alluding to a possible reversal of current policy that has sought to remove the inflationary effects of housing from inflation measures. Re-inclusion of housing related inflationary pressures, either directly, or via mortgage costs would allow more scope for IR cuts as the stagnant market would put downward pressure on the cost of living. However, bear in mind that Brown has already been accused of moving the goal posts onthe way up, AND of fiddling his "golden rule" by changing the economic cycle start date.

If this happens only a fool would keep Ken Clarke from the Tory top post, as amongst all the contenders, he's the guy who is best equipped to bludgeon th egov on economics.

By the way, this has been discussed b4. Search for "Inflation report" . I'd say search for CPI and RPIX only the site search needs longer strings : DOH!

Edited by Sledgehead

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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