Dec 2016 - HPI 6.9% & RPI 1.2%.

[hi5lo5]

"UK inflation hits more than two-year high in November" - http://uk.reuters.com/article/idUKKBN1420US

RPI 1.2% and HPI 6.9%.

 

[TheCountOfNowhere]

8 minutes ago, hi5lo5 said:

"UK inflation hits more than two-year high in November" - http://uk.reuters.com/article/idUKKBN1420US

RPI 1.2% and HPI 6.9%.

 

Inflation now well above current savings rates.

Thjis is a deliberate act by the bankers. They can stop this today by raising interest rates

[blackhole]

Just now, TheCountOfNowhere said:

Inflation now well above current savings rates.

Thjis is a deliberate act by the bankers. They can stop this today by raising interest rates

https://www.bloomberg.com/news/articles/2016-12-12/carney-s-next-rate-move-seen-higher-as-inflation-patience-tested

(not that I have much faith in economists)

[TheCountOfNowhere]

Said this all along....the bankers will not stop till they are forced to.

 

 

[TheCountOfNowhere]

4 minutes ago, blackhole said:

https://www.bloomberg.com/news/articles/2016-12-12/carney-s-next-rate-move-seen-higher-as-inflation-patience-tested

(not that I have much faith in economists)

• More than 60% of economists see rate hike as next move
• BOE set to leave monetary policy unchanged at Dec. 15 meeting

 

THEY WILL NOT STOP.  THEY DO NOT GIVE A F*** ABOUT YOU OR I

 

[blackhole]

2 minutes ago, TheCountOfNowhere said:

• More than 60% of economists see rate hike as next move
• BOE set to leave monetary policy unchanged at Dec. 15 meeting

 

THEY WILL NOT STOP.  THEY DO NOT GIVE A F*** ABOUT YOU OR I

 

I agree.  It'll be other external markets that end up cornering the BoE into making the next moves.

Edited December 13, 2016 by blackhole

[TheCountOfNowhere]

10 minutes ago, blackhole said:

I agree.  It'll be other external markets that end up cornering the BoE into making the next moves.

This is what you get when bankers are unregulated and a compliant government.

[frederico]

FEW!!! It's not RPI it's CPI,  RPI is 2.2% which is great for index linked savings.

[the_duke_of_hazzard]

40 minutes ago, TheCountOfNowhere said:

Inflation now well above current savings rates.

Thjis is a deliberate act by the bankers. They can stop this today by raising interest rates

I'm getting 5% on regular savers, thanks.

[durhamborn]

3 minutes ago, frederico said:

FEW!!! It's not RPI it's CPI,  RPI is 2.2% which is great for index linked savings.

The last 7 years my deferred DB pension (only small) has gone up by more than the workers still working at the factory on the same pension.Theirs has gone up with wages,mine with RPI.So i get more by leaving because their wages havent kept up with RPI.Bonkers.Notice council tax is once again going up 4% and the government are talking about more special increases for social care,IE more benefits for those on social paid for by those just above benefits.Cant touch the chief execs massive pension of course.

The state and the banks need to destroy savings for different reasons.The banks to transfer to their big bond holders,the 1% mostly,instead of them being cleaned out by bad debts.The government need to destroy savings to keep the people working forever who pay the tax for the 40% scroungers at the top and the bottom.

RPI will be 4%+ late next year i expect.

 

[Guest]

Last month's HPI revised down too!

[Digsby]

Here's the new HPI report:

https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/oct2016

Or rather:

https://www.gov.uk/government/collections/uk-house-price-index-reports

Edited December 13, 2016 by Digsby

[anonguest]

7 minutes ago, Kiwi_Muncher said:

Last month's HPI revised down too!

BUT still wayyyyyy higher than earnings inflation.  Until property price inflation falls to levels comparable to or less than earnings inflation then the pain will continue - and 'celebratory' comments in response to such news/data releases are pointless.

To this day I remain bewildered at all the supposedly well educated and intelligent people I know and have met who have never grasped the long term inevitable socio-economic consequences of allowing the cost of housing to persistently rise at rates way in excess of earnings rates.

[crashmonitor]

18 minutes ago, the_duke_of_hazzard said:

I'm getting 5% on regular savers, thanks.

 Need quite a few on the go and multiple matured rollovers to make it work. The wife usually has several on the go with some rollovers. I'm a bit too lazy for that.

[crashmonitor]

Does feel like inflation is now on the launch pad. it's the first time we have had an uptick MOM from October to Novemeber since 2013 ( level in 2015 and deflation in 2014). Also the 101.2 to 101.4 is quite a jump for a month that has a history of being becalmed.

Still slightly hopeful that spending cutbacks may reign back inflation in 2017 more than expected. We have had the post Brexit splurge and I would expect a bit of Japanese style belt tightening from hereonin.

Edited December 13, 2016 by crashmonitor

[rantnrave]

14 minutes ago, crashmonitor said:

 Need quite a few on the go and multiple matured rollovers to make it work. The wife usually has several on the go with some rollovers. I'm a bit too lazy for that.

With TSB reducing their rate from Jan, I'm only aware of Nationwide that have a current account offering 5%. Feel free to enlighten me of any others!

[rantnrave]

What do people realistically think inflation will have to it before the BoE raises IRs?

A couple of years back, I think 3 of 9 MPC members voted for a raise when RPI was peaking at 5%, so I'm thinking anything north of that.

[crashmonitor]

1 minute ago, rantnrave said:

With TSB reducing their rate from Jan, I'm only aware of Nationwide that have a current account offering 5%. Feel free to enlighten me of any others!

It was the Dukes of Hazzard that said he was getting 5%. The best my partner is getting is 3% on a rolled over Nottingham reg saver.

The best I am being offered at the moment is 1.6% on a Coventry 5 year fix  starting from 31.12 16 for some matured funds. Sounds bad, but it does have instant access on 180 day loss, I like early maturity options and they are becoming a rarity. Can't make my mind up, because with gold tanking and no doubt some equity crisis in the coming year an instant access account might be a better bet to take advabtage of any Market fluctuations.

[Sour Mash]

3 minutes ago, rantnrave said:

What do people realistically think inflation will have to it before the BoE raises IRs?

A couple of years back, I think 3 of 9 MPC members voted for a raise when RPI was peaking at 5%, so I'm thinking anything north of that.

It's more likely going to be bond yields that drive up interest rates ... if you can make X% 'at no risk' when lending to a sovereign government, then it stands to reason that you will want 'X% plus an amount commensurate with risk' when lending to a non-government.

 

[darkmarket]

4 minutes ago, rantnrave said:

What do people realistically think inflation will have to it before the BoE raises IRs?

A couple of years back, I think 3 of 9 MPC members voted for a raise when RPI was peaking at 5%, so I'm thinking anything north of that.

I think it may depend more on the duration and nature of the inflation than the amount.

It's feasible, although in breach of his statutory remit, for Carney to pledge to look through inflation for a short time-scale. Once it becomes clear that it's not a trend that's about to reverse, and the suffering of people due to inflation is comparable to his projected unemployment figures consequent to a hike, he'll need new arguments at least.

In related bad news for anyone hoping for US-exported inflation, the Republicans are beginning to block Trump's stimulus plans:

"As for Trump’s infrastructure plan, touted as costing roughly $1 trillion but with more than 80 percent of the financing coming from the private sector, McConnell said he’s looking forward to seeing the details.

“What I hope we will clearly avoid, and I’m confident we will, is a trillion-dollar stimulus,” he said. “Take you back to 2009. We borrowed $1 trillion and nobody could find that it did much of anything."

https://www.bloomberg.com/politics/articles/2016-12-12/mcconnell-warning-of-dangerous-debt-wants-tax-cut-offsets

[rantnrave]

4 minutes ago, crashmonitor said:

It was the Dukes of Hazzard that said he was getting 5%. The best my partner is getting is 3% on a rolled over Nottingham reg saver.

The best I am being offered at the moment is 1.6% on a Coventry 5 year fix  starting from 31.12 16 for some matured funds. Sounds bad, but it does have instant access on 180 day loss, I like early maturity options and they are becoming a rarity. Can't make my mind up, because with gold tanking and no doubt some equity crisis in the coming year an instant access account might be a better bet to take advabtage of any Market fluctuations.

Tesco Bank - 3% on £3k and allows joint accounts (recent security scare may put people off though!)

Halifax Young Saver - 2% on up to £20k for a child under 18 which the parents run and can be accessed any time (ie, before the child turns 18)

TSB £2k limit for 3% (currently 5% until the end of the year). 5% cash back on first £100 of contactless payments each month is a nice bonus too.

HTB ISA (if you can live with yourself) pays 2%. I'm not fussed about waiting for the bonus, but I'll take the interest rate in the meantime.

Check out Savings Champion: https://www.savingschampion.co.uk/

[TheCountOfNowhere]

22 minutes ago, rantnrave said:

What do people realistically think inflation will have to it before the BoE raises IRs?

They wont raise without external force, whatever that may be.

They are effectively robbing everyone of everything and the people at the top are refusing to stop them.

We have been robbed for 16 years now and still people think the bankers are on their side, will sort the mess out, will raise interest rates when the time is right.

These ****s are evil power mad thieves who will stop at nothing to protect themselves and their wealth.

People think brexit is about immigration, no, brexit is about the situation set up by the bankers to enrich themselves, people cant seem to put their finger on what exactly the problem is but it's pretty evident to me.

 

How will it all end....that's anyone's guess...the phrase "it wont end well" seems appropriate though

 

Edited December 13, 2016 by TheCountOfNowhere

[rantnrave]

I can see Carney attempting to pass off any inflation as being a temporary effect of Brexit that will pass. It wont pass if the US keeps raising interest rates though.

[LondonIsFallingDown]

What about the new main measure of inflation for the UK? I saw something in the Guardian about it a while ago

https://www.theguardian.com/uk-news/economics-blog/2016/nov/15/new-uk-inflation-measure-office-for-national-statistics-cpih

There already seems to be opposition to it.

[Sour Mash]

32 minutes ago, LondonIsFallingDown said:

What about the new main measure of inflation for the UK? I saw something in the Guardian about it a while ago

https://www.theguardian.com/uk-news/economics-blog/2016/nov/15/new-uk-inflation-measure-office-for-national-statistics-cpih

There already seems to be opposition to it.

Including the costs of housing in the index that is the commonly accepted indicator of inflation is a good thing in principle ... The issue comes from the fact that they avoided doing it during the last decade and a half of actual HPI and only look like incorporating it after the boom tapers off and prices look like falling (even as general inflation takes off).

 

It smacks of massaging the figures, the same way that they regularly move stuff that has bottomed out in terms of price drops from the index in favour of something that seems set to fall in price.