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Fivelive At Midnightish Yesterday...more Bearishness.

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It seems the issue of 'the cost of living' has become something of bandwagon at the moment.

Listening last night, Anita Anan(sp?) was basically asking why inflation is so low (fiddled?) when the cost of living is increasing so much.

House prices werent discussed but its all much-of-a-muchness...the issue of affordability is growing into a King Kong media debate.

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Yup. Its got to the point now where even the relatively well-paid presenters and anchors in mainstream media are taking a look at their bank-balance and seeing the outgoings increase disproportinately to their income.

Hmmm. Energy is up 22% Transport is up 11%

My wages went up 3%.

She put it quite nicely last night.

"There's never been a cheaper time to buy shoes but I dont need shoes, I need gas, electricity and water."

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Excellent: if the media discredit the fake inflation figures, then the only way rates are going is up. Way up.

I agree with the sentiment. However...

The CPI figures are not "fake" - they are the chosen target at which the monetarist policy is aimed. That is why we have inflation outside of items not included in the CPI as opposed to why items which are increasing in price are not included in the measure. In other words - wrong target.

Bottom line is long term prosperity is being forgone.

Sorry to play the pedant but the distinction is not without meaning and detail is important. Brown would laugh at suggestions of the statistics being fixed, that he has chosen the wrong measures is a harder charge to face.

Edited by bandylegs

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  • 301 Brexit, House prices and Summer 2020

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