crashmonitor Posted March 25, 2014 Share Posted March 25, 2014 (edited) 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%. Edited March 25, 2014 by crashmonitor Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted March 25, 2014 Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
shindigger Posted March 25, 2014 Share Posted March 25, 2014 Fuel prices have not moved in nth Dorset. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted March 25, 2014 Author Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted March 25, 2014 Author Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
katchytitle Posted March 25, 2014 Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
White Craw Posted March 25, 2014 Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
zugzwang Posted March 25, 2014 Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
R K Posted March 25, 2014 Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
frederico Posted March 25, 2014 Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
gf3 Posted March 25, 2014 Share Posted March 25, 2014 The biggest part of our inflation was when the pound fell against the dollar after the credit crunch. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted March 25, 2014 Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
rh2409 Posted March 25, 2014 Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted March 25, 2014 Share Posted March 25, 2014 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? Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted March 25, 2014 Share Posted March 25, 2014 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. Quote Link to comment Share on other sites More sharing options...
mmt Posted March 25, 2014 Share Posted March 25, 2014 “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 Quote Link to comment Share on other sites More sharing options...
ChumpusRex Posted March 25, 2014 Share Posted March 25, 2014 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%) Quote Link to comment Share on other sites More sharing options...
shindigger Posted March 26, 2014 Share Posted March 26, 2014 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. Quote Link to comment Share on other sites More sharing options...
1929crash Posted March 26, 2014 Share Posted March 26, 2014 (edited) 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 March 26, 2014 by 1929crash Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted March 27, 2014 Author Share Posted March 27, 2014 (edited) 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 March 27, 2014 by crashmonitor Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted March 27, 2014 Author Share Posted March 27, 2014 (edited) 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 March 27, 2014 by crashmonitor Quote Link to comment Share on other sites More sharing options...
1929crash Posted March 27, 2014 Share Posted March 27, 2014 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. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted March 27, 2014 Author Share Posted March 27, 2014 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. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 27, 2014 Share Posted March 27, 2014 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. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 27, 2014 Share Posted March 27, 2014 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. Quote Link to comment Share on other sites More sharing options...
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