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crashmonitor

Cpi 1.7% Year To February

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Mark Carney takes over at the Bank of England, and everything's been coming up roses ever since.

The man is a genius! ;)

On a slightly more genuine note, whether Carney can be given credit or not, I bet Mervyn King is feeling a chump.

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I see that the RPI is deemed not up to be up to International standards and they now quote the RPIJ.....now at 2.0% from 2.1%.

Nice for those that still get the RPI though, thinking pension triple locks and NSI certs.

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Commentators are expecting sub 1.5% by the end of the spring. One assumes this is all going to plan for the hyper-inflationists ie. lulled into a false sense of security by the tide pulling out in readiness for the Tsunami.

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I see that the RPI is deemed not up to be up to International standards and they now quote the RPIJ.....now at 2.0% from 2.1%.

Nice for those that still get the RPI though, thinking pension triple locks and NSI certs.

Remember - when government doesn't like the inflation number they just change how its measured. Mark Carney is a genius because he knows what people wants to see and changes the statistics to match. No where is it more blatant than the changes that occur when new leadership arrives. Statistics shouldn't care about new leadership or elections but magically they always do.

I'd guesstimate inflation at around 5-8% for raw food and possibly 8-15% for energy,petrol and housing.

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I see that the RPI is deemed not up to be up to International standards and they now quote the RPIJ.....now at 2.0% from 2.1%.

Nice for those that still get the RPI though, thinking pension triple locks and NSI certs.

The inflation part of triple lock is CPI not RPI now

The triple lock commitment was made in 2010 when the mechanism for state pension rises was switched from the retail prices index (RPI) to the consumer prices index (CPI). It was seen as a payoff for linking to CPI which has historically risen at a slower pace.

http://www.thisismoney.co.uk/money/pensions/article-2243394/Autumn-Statement-State-pensions-rise-2-5-110-Chancellor-confirms-triple-lock-guarantee.html

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There's no consumer price inflation because there's no consumer demand. Debt deleveraging continues. Brown's idiots are still paying down their debts faster than Osborne's idiots are running them up.

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There's no consumer price inflation because there's no consumer demand. Debt deleveraging continues. Brown's idiots are still paying down their debts faster than Osborne's idiots are running them up.

Made me chuckle.

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Low inflation and decent GDP growth are incompatible if you aren't increasing exports, but even then the extra money should cause inflation. Especially when cheap borrowing is available.

Of course GDP numbers could be distorted if you include an appreciating asset funded by the available cheap borrowing.

Hmm

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The biggest part of our inflation was when the pound fell against the dollar after the credit crunch.

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Inflation low and falling.

Unemployment relatively low and falling.

Growth rising.

House prices stellar and bubbling away.

Incredible!

If you believe the official figures and think that they tell the whole story, we are in an unprecedented golden age for the economy of growth and low inflation.

Strange then, how this doesn't seem to match the reality of life for most of the population. Great news if you are in the small club of cronies though.

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A three year low on petrol prices, this was expected. Down from 1.9% in January.

http://www.ons.gov.uk/ons/rel/cpi/consumer-price-indices/february-2014/stb---consumer-price-indices---january-2014.html

RPI 2.7% down from 2.8%.

Maybe I'm stupid, but I simply don't understand. How can inflation be running at such a low rate? This totally jars with my every day experience, as far as I can tell

everything is just becoming more and more expensive at a rate that's quite scary...am I right in that thinking this or am I missing something here/doing something wrong/bonkers?

People Tell Me That I'm Slightly Odd....

itsarandomworld

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Commentators are expecting sub 1.5% by the end of the spring. One assumes this is all going to plan for the hyper-inflationists ie. lulled into a false sense of security by the tide pulling out in readiness for the Tsunami.

what do the forecasts further out suggest? Cpi has fallen back pretty sharpish and if the UK economy slows down will cpi head lower still?

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Maybe I'm stupid, but I simply don't understand. How can inflation be running at such a low rate? This totally jars with my every day experience, as far as I can tell

everything is just becoming more and more expensive at a rate that's quite scary...am I right in that thinking this or am I missing something here/doing something wrong/bonkers?

People Tell Me That I'm Slightly Odd....

itsarandomworld

Shrinkflation.

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“First the threat of deflation, followed by a helicopter drop, followed by big inflation, followed by real deflation, and then followed by hyperinflation.” - Mike Maloney

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Shrinkflation.

Big drop in petrol prices. Very low inflation in clothing costs, due to aggressive discounting.

Everything else is soaring, especially education (11% inflation, booze 4%, health spending 3.5%, domestinc energy 3.5%)

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4 years ago, i bought a nice solid oak part glazed back door for £99.

Today i cant find ANYTHING remotely comparable for less than £299, and most of them are veneers.

I guess exterior doors are too big for "the basket".

Anyone who believes UK Govmnt inflation stats is a bloody fool.

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Inflation low and falling.

Unemployment relatively low and falling.

Growth rising.

House prices stellar and bubbling away.

Incredible!

If you believe the official figures and think that they tell the whole story, we are in an unprecedented golden age for the economy of growth and low inflation.

Strange then, how this doesn't seem to match the reality of life for most of the population. Great news if you are in the small club of cronies though.

I think it's time for a separate measure of food price inflation - that's not far off 10% imo.

And we would already have hyper-inflation if house prices were included in the official measures.

Edited by 1929crash

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Big drop in petrol prices. Very low inflation in clothing costs, due to aggressive discounting.

Everything else is soaring, especially education (11% inflation, booze 4%, health spending 3.5%, domestinc energy 3.5%)

I noticed the Co op local food store had Beko washing machines in the store at £169 yesterday. Seems quite an essential part of the basket. Now the Co op is no electrical superstore and charge top whack for everything.

My memories of washing machine prices are £400 in the 80s, £300 in the 90s and around £250 in the noughties. Just how much bloody lower can they go.

Edited by crashmonitor

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I'm wondering how much cheaper new cars can get too. When the Aygo, 107 and C1 triplet range were introduced on the 04 plate you couldn't get close to £7,000. You can now get a 5 door ex demo for under 7k, ten years on. Manufactured stuff does get cheaper. I'm sure there are plenty of pre-registered new for the same, Bristol Street motors are a main dealer........

http://www.bristolstreet.co.uk/used-cars/ex-demo-cars/ex-demo-peugeot/

Edited by crashmonitor

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Suggestion:

If five or six posters undertook to price a group of five supermarket items every month, and reported back to HPC Forum (topic to be pinned) we might get a more reliable indicator of Food Price Inflation, which I think is running at around 10%, although I am willing to be persuaded by the facts.

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Suggestion:

If five or six posters undertook to price a group of five supermarket items every month, and reported back to HPC Forum (topic to be pinned) we might get a more reliable indicator of Food Price Inflation, which I think is running at around 10%, although I am willing to be persuaded by the facts.

I think the official stats had it at 1.1% pa. There have been some noticeable rises to some of the most common items, milk comes to mind.

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4 years ago, i bought a nice solid oak part glazed back door for £99.

Today i cant find ANYTHING remotely comparable for less than £299, and most of them are veneers.

I guess exterior doors are too big for "the basket".

Anyone who believes UK Govmnt inflation stats is a bloody fool.

Yes, the price of real stuff - woods, fuels, foods - is soaring. Luckily none of us have any use for these things.

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Suggestion:

If five or six posters undertook to price a group of five supermarket items every month, and reported back to HPC Forum (topic to be pinned) we might get a more reliable indicator of Food Price Inflation, which I think is running at around 10%, although I am willing to be persuaded by the facts.

Not supermarket 'items' - just raw, high quality food stuffs - like british beef, cheese, butter, bread etc etc.

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