esspeegee Posted July 17, 2012 Share Posted July 17, 2012 http://www.bbc.co.uk/news/business-18867248 UK inflation rate falls to 2.4% in JuneThe rate of inflation as measured by the Consumer Prices Index fell to 2.4% in June, from 2.8% in May, official figures have shown. The Office for National Statistics also said that the Retail Prices Index, which includes housing costs, fell to 2.8% from 3.1%. The rate of inflation, which measures how quickly prices are rising, has been falling due to declines in food and fuel prices. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted July 17, 2012 Share Posted July 17, 2012 http://www.bbc.co.uk/news/business-18867248 Hooray, after 4 years of well above target inflation we're almost back to the actual (understated) target. Time to speed up the presses, three hundred and seventy five billion pounds of printed money and counting! Quote Link to comment Share on other sites More sharing options...
Snafu Posted July 17, 2012 Share Posted July 17, 2012 Hooray, after 4 years of well above target inflation we're almost back to the actual (understated) target. Time to speed up the presses, three hundred and seventy five billion pounds of printed money and counting! Yes, this can't be allowed. Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted July 17, 2012 Share Posted July 17, 2012 CPI 2.4% vs 2.8% expected. RPI 2.8% vs 3.0% expected. Quote Link to comment Share on other sites More sharing options...
zebbedee Posted July 17, 2012 Share Posted July 17, 2012 What say 3-4 months until RPI goes negative again and they unlease the mother of all prints Quote Link to comment Share on other sites More sharing options...
curious1 Posted July 17, 2012 Share Posted July 17, 2012 Yet according to radio5live reporter, "we can afford more" .... fking unbelievable. I have tweeted and emailed. Please do the same. Every time inflation falls, they do this... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 17, 2012 Share Posted July 17, 2012 petrol is a bit cheaper. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted July 17, 2012 Share Posted July 17, 2012 CPI 2.4% vs 2.8% expected. RPI 2.8% vs 3.0% expected. Any chance of an update to the Halifax charts thread? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 17, 2012 Share Posted July 17, 2012 Wages stagnating and prices going up, fill your boots.... Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted July 17, 2012 Share Posted July 17, 2012 Wages stagnating and prices going up, fill your boots.... Check the indices, prices apparently falling Quote Link to comment Share on other sites More sharing options...
DungBeetle Posted July 17, 2012 Share Posted July 17, 2012 Wages stagnating and prices going up, fill your boots.... Month on Month drop. Goes back to a point I've been trying to make for the last few years.... Inflation was down to exchange rate and import cost dynamics - defaltion is happening in the money supply, hence -VE economic growth. Only deficit spending (and the monetization of that deficit spending by the BoE) is allowing us to tread water. Personally I'd be happy with a few years high inflationary wage growth - Print £5000 and give it to each person, stoke up some REAL inflation and inflate our way out of this mess (the only real route other than a painful default) Quote Link to comment Share on other sites More sharing options...
Hold Fast Posted July 17, 2012 Share Posted July 17, 2012 Check the indices, prices apparently falling Going to risk a QI moment here for the obvious answer.....doesn't a fall in CPI (but still positive) just mean that prices are increasing at a lesser rate? I suppose I could just read the article Quote Link to comment Share on other sites More sharing options...
esspeegee Posted July 17, 2012 Author Share Posted July 17, 2012 Check the indices, prices apparently falling No, they still increased by 2.4%. The rate of increase (the slope of the graph) is decreasing. Quote Link to comment Share on other sites More sharing options...
Lennon Posted July 17, 2012 Share Posted July 17, 2012 No, they still increased by 2.4%. The rate of increase (the slope of the graph) is decreasing. Increased by 2.4% on a Year-on-Year basis, but decreased by 0.4% on a Month-on-Month basis. So things are 2.4% more expensive than this time last year, but 0.4% cheaper than this time last month... (apparantly) Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 17, 2012 Share Posted July 17, 2012 Month on Month drop. Goes back to a point I've been trying to make for the last few years.... Inflation was down to exchange rate and import cost dynamics - defaltion is happening in the money supply, hence -VE economic growth. Only deficit spending (and the monetization of that deficit spending by the BoE) is allowing us to tread water. Personally I'd be happy with a few years high inflationary wage growth - Print £5000 and give it to each person, stoke up some REAL inflation and inflate our way out of this mess (the only real route other than a painful default) OK, so you get your inflation. Your debt costs you less in real terms. But, your wages have risen, your materials have risen....do you think that the status quo will be maintained?...that austerity can be avoided? Have you considered the increase in debt that will be needed JUST TO STAND STILL? You confuse wealth with money. All your solution will do is make everyone poorer....all inflation leads to the endgame of starvation...it might be slow, it might be quick, but it has to arrive. Its a common mistake. Quote Link to comment Share on other sites More sharing options...
zebbedee Posted July 17, 2012 Share Posted July 17, 2012 It's a BBC article, so you do right to check! Fvck me your right, I'd just checked the forex factory release but from the BBC we have The rate of inflation, which indicates how fast prices are rising compared with a year earlier, is slowing due to lower food, fuel and clothing prices. Funny that but our food bill seems higher every month, nust be imagining it!!! Quote Link to comment Share on other sites More sharing options...
esspeegee Posted July 17, 2012 Author Share Posted July 17, 2012 Increased by 2.4% on a Year-on-Year basis, but decreased by 0.4% on a Month-on-Month basis. So things are 2.4% more expensive than this time last year, but 0.4% cheaper than this time last month... (apparantly) http://www.ons.gov.uk/ons/rel/cpi/consumer-price-indices/june-2012/stb---consumer-price-indices---june-2012.html#tab-Briefing-on-the-CPI-monthly-movement-between-May-and-June-2012 Hmm, you are correct. Month-on-month deflation. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted July 17, 2012 Share Posted July 17, 2012 Fvck me your right, I'd just checked the forex factory release but from the BBC we have Funny that but our food bill seems higher every month, nust be imagining it!!! There has certainly been a month-on-month fuel price drop. Food I don't get to see as much, but prices seem to have reached a plateau for the moment. Mortgage rates are down or flat. Critical things like the benchmark 32" LCD TV are way down. Quote Link to comment Share on other sites More sharing options...
winkie Posted July 17, 2012 Share Posted July 17, 2012 .....now we know why the increase in tax on fuel has been deferred.....an even better reason to print more money, killing the spending power of savings and giving more reasons to take on more cheap debt to create debt growth fighting off natural free market deflation......no rising prices, devalued money and higher pay increases = failed economies......lets all get rich with debt Quote Link to comment Share on other sites More sharing options...
rantnrave Posted July 17, 2012 Share Posted July 17, 2012 There has certainly been a month-on-month fuel price drop. To be shortlived. Oil went as low as $90 a barrel just a couple of weeks back. Pushing $105 now. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted July 17, 2012 Share Posted July 17, 2012 There has certainly been a month-on-month fuel price drop. Food I don't get to see as much, but prices seem to have reached a plateau for the moment. Mortgage rates are down or flat. Critical things like the benchmark 32" LCD TV are way down. Yes, there's a severe danger that if we don't up the rate at which we are creating money out of thin air, the prices of things might actually start to fall on a sustained basis ... in the middle of a recession of all times! We can't have that - the cost of living MUST go up! A stagnant/dimishing economy and little to no payrises for those in work are no excuse for lower living costs. Quote Link to comment Share on other sites More sharing options...
DungBeetle Posted July 17, 2012 Share Posted July 17, 2012 OK, so you get your inflation. Your debt costs you less in real terms. But, your wages have risen, your materials have risen....do you think that the status quo will be maintained?...that austerity can be avoided? Have you considered the increase in debt that will be needed JUST TO STAND STILL? You confuse wealth with money. All your solution will do is make everyone poorer....all inflation leads to the endgame of starvation...it might be slow, it might be quick, but it has to arrive. Its a common mistake. People will become poorer whatever happens. Inflation forces static money out of savers account into the economy. I'm not saying it is right, I don't even think it is moral - just the hard facts about our current economic system. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted July 17, 2012 Share Posted July 17, 2012 Yes, there's a severe danger that if we don't up the rate at which we are creating money out of thin air, the prices of things might actually start to fall on a sustained basis ... in the middle of a recession of all times! We can't have that - the cost of living MUST go up! A stagnant/dimishing economy and little to no payrises for those in work are no excuse for lower living costs. If the money creation was going into wages and hence goods/services prices (via near-full employment), whilst house prices and their associated debts were flatlining, then we would be OK. Well, mostly.. However, since it seems that all of this money creation is being pushed into keeping asset prices high, it seems to be making things worse.. Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted July 17, 2012 Share Posted July 17, 2012 Any chance of an update to the Halifax charts thread? I'll update it tomorrow when the latest earnings numbers are released with the employment stats. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 17, 2012 Share Posted July 17, 2012 Price inflation still soaring above target. That's a more accurate headline, or perhaps. Prices become even more unaffordable. Quote Link to comment Share on other sites More sharing options...
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