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Realistbear

Spiralling Energy Costs To Show Up In Inflation Figures

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http://uk.biz.yahoo.com/18072006/140/soari...-inflation.html

Tuesday July 18, 08:19 AM
Soaring Energy Bills Fuel Inflation
Soaring energy bills are expected to send inflation further above the Bank of England's 2% target. The Consumer Prices Index rate of inflation rose to 2.2% in May - its highest level since November. Economists expect figures from the Office for National Statistics today to show that it rose again in June to 2.3%.
"Energy will have been a major factor in June," said Investec (LSE: INVP.L - news) economist Philip Shaw.
"A combination of new and previous gas and electricity price increases look set to put upward pressure on the index, although the effect should be mitigated by petrol prices edging down."

Busy few days at the ONS trying to manipulate this data to enable Gordon to keep IR accomodative? Odd that fuel costs have gone up more in the UK than anywhere else in the world where there is inflation but no sign of any inflation that would cause IR to rise here? Very odd. :blink:

And the bit about petrol prices edging DOWN? :blink: They are 99.99p around here now and were 98p a few months ago.

Edited by Realistbear

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http://uk.biz.yahoo.com/18072006/140/soari...-inflation.html

Tuesday July 18, 08:19 AM
Soaring Energy Bills Fuel Inflation
Soaring energy bills are expected to send inflation further above the Bank of England's 2% target. The Consumer Prices Index rate of inflation rose to 2.2% in May - its highest level since November. Economists expect figures from the Office for National Statistics today to show that it rose again in June to 2.3%.
"Energy will have been a major factor in June," said Investec (LSE: INVP.L - news) economist Philip Shaw.
"A combination of new and previous gas and electricity price increases look set to put upward pressure on the index, although the effect should be mitigated by petrol prices edging down."

Busy few days at the ONS trying to manipulate this data to enable Gordon to keep IR accomodative? Odd that fuel costs have gone up more in the UK than anywhere else in the world where there is inflation but no sign of any inflation that would cause IR to rise here? Very odd. :blink:

And the bit about petrol prices edging DOWN? :blink: They are 99.99p around here now and were 98p a few months ago.

No doubt the spin will be along the lines of..."higher energy costs [inflation] will help keep a lid on price rises [inflation]"

Another Brown Miracle paradigm for the BoE: "Fight inflation with inflation"

That'll do the trick!

Mind you, I wouldnt be surprised to see an "unexepected, but welcome drop" in CPI due to the World Cup, and falling price of England flags

Edited by jp1

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GB does NOT control the MPC, as we have discussed at length on this site. But RB closes his ears to reality.

You're not a blue by any chance, are you?

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GB does NOT control the MPC, as we have discussed at length on this site. But RB closes his ears to reality.

You're not a blue by any chance, are you?

Gordon controls the ONS who in turn feed the BoE with data they use in setting IR.

Gordon choses all of the external members of the BoE rate setting committee. The most recent 2 were described as "doves" in accord with Gordon's policy to keep IR accomodative.

The other members of the MPC are all hired and fired by the Treasury which in turn is the realm of central government controlled ultimately by Gordon.

The BoE are an extension of government controlled by political patronage, seeded with like minded members dependent upon Gordon's data.

To the average sheeple, the BoE are a truly independent body able to stand up to Gordon if necessary. The reality is far far different.

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GB does NOT control the MPC, as we have discussed at length on this site. But RB closes his ears to reality.

You're not a blue by any chance, are you?

I was under the impression that gordon brown decides who is on the MPC at the bank of england.

They key measure on what the MPC can use to act on CPI is also within the control of gordon brown.

Gordon brown also writes the policy which they must follow.

http://www.hm-treasury.gov.uk/media/A5F/A7...ofbofepbr03.pdf

So how exactly are they seperate? I think RB takes a very realistic point of view.

On another note what happened to including the cost of housing in the CPI?

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I was under the impression that gordon brown decides who is on the MPC at the bank of england.

They key measure on what the MPC can use to act on CPI is also within the control of gordon brown.

Gordon brown also writes the policy which they must follow.

http://www.hm-treasury.gov.uk/media/A5F/A7...ofbofepbr03.pdf

So how exactly are they seperate? I think RB takes a very realistic point of view.

On another note what happened to including the cost of housing in the CPI?

It's also a view that a lot of other people are coming round to. The Telegraph and Sunday Times are muttering about it. A Parliamentary Select Committe is looking into the "independence" of the BoE, but will take til Autumn/Winter before its findings are brushed under the carpet by Brown. The Tories are also asking questions in various committes, again which Brown refuses to answer to

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GB does NOT control the MPC, as we have discussed at length on this site. But RB closes his ears to reality.

You're the only person not in touch with reality. When the MPC meets, if you look very carefully, you can see the strings.

It's also a view that a lot of other people are coming round to. The Telegraph and Sunday Times are muttering about it. A Parliamentary Select Committe is looking into the "independence" of the BoE, but will take til Autumn/Winter before its findings are brushed under the carpet by Brown. The Tories are also asking questions in various committes, again which Brown refuses to answer to

Let's face it Brown refuses to answer any questions that might burst the bubble that he has been a good chancellor. As someone brought up in a working-class 'we only ever support the Labour party' environment, as someone who believes that you need someone to fight for the rights of the downtrodden (more than ever in this market driven economy) - I look at Gordon Brown and the rest of the NuLabour scum and want to weep.

What amazes me more than anything is how power corrupts the lot of them. Where are the decent left-wing Labour MPs that we need to get some sort of balance. All as quiet as the grave - Blair et al must run a very tight ship.

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Everything that happens up to the point the MPC meets of course GB has lots of input. But he DOES NOT control the MPC decisions.

I wish you guys would get to grips with that simple fact.

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Everything that happens up to the point the MPC meets of course GB has lots of input. But he DOES NOT control the MPC decisions.

I wish you guys would get to grips with that simple fact.

Yes he does. They have been given a target to meet and he fiddles the figures so they have no choice on what decision to make!

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GB does NOT control the MPC, as we have discussed at length on this site. But RB closes his ears to reality.

You're not a blue by any chance, are you?

Perhaps not control, but strongly influences.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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