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29929BlackTuesday

Uk Food Prices 'rocketing'

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Actually the food in the basket is getting cheeper..

The loaf of bread and the milk in question is now over two years old and really smelly..

The value has plumeted...

If the bread produces a new and special anti-biotic we might see inflation in the UK rocket though... ;)

Hey Gordy, any idea how to make the economy flourish?

"Why yes I have... I can make people richer and richer without actually having to work...."

Tw*ts

Edited by apom

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Good job a small loaf of bread was removed from the basket!

And... i'm not joking about it being removed.

This is correct. The wheat crop was devastated in the floods and the wet summer caused widespread mold forcing wheat prices up by 25%. Having a staple which everyone buys in the CPI basket when its price has risen 25% is not good, not good at all. To keep inflation at or below 2% the CPI must exclude anything people buy a lot of and anything which has risen in price recently such as food, travel-especially the high use commuter type, petrol, council tax.

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I was thinking of this thread earlier this evening as I grabbed several loaves of nice speciality in-store baked bread from Sainsburys that had been reduced to 25% of the retail price. Not stale or anything either. I'd have loaded up big-style if I were a student. :P I love it when they overproduce.

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This is correct. The wheat crop was devastated in the floods and the wet summer caused widespread mold forcing wheat prices up by 25%. Having a staple which everyone buys in the CPI basket when its price has risen 25% is not good, not good at all. To keep inflation at or below 2% the CPI must exclude anything people buy a lot of and anything which has risen in price recently such as food, travel-especially the high use commuter type, petrol, council tax.

If you follow silver surfer's link, it is clear that the CPI basket, whilst indeed not including small loaves of bread (which I can't see on the removed list, so must have been removed last year ie before the floods) does in fact include three different sorts of large sliced loaf, rail fares and petrol.

I do not believe the government is attempting to massage inflation figures by tinkering with the CPI basket of goods. To do so would require frequent and implausible changes that would be clear from the ONS's documents.

Rather they have taken the more blatant and potentially obvious step of putting RPI figures (which are much higher than a few years ago) to the back of the news whilst trumpeting the lower-by-definition CPI.

If you want to attack the governement for something regarding inflation statistics then I believe that is the line to take.

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If you follow silver surfer's link, it is clear that the CPI basket, whilst indeed not including small loaves of bread (which I can't see on the removed list, so must have been removed last year ie before the floods) does in fact include three different sorts of large sliced loaf, rail fares and petrol.

I do not believe the government is attempting to massage inflation figures by tinkering with the CPI basket of goods. To do so would require frequent and implausible changes that would be clear from the ONS's documents.

Rather they have taken the more blatant and potentially obvious step of putting RPI figures (which are much higher than a few years ago) to the back of the news whilst trumpeting the lower-by-definition CPI.

If you want to attack the governement for something regarding inflation statistics then I believe that is the line to take.

like food 22 items but only 10.3% yet recreation and culture has 17 items and accounts for 15.3%

housing 5 items yet has 11.5 %. it just doesnt add up.

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Have a look at the 2006 list.

http://www.statistics.gov.uk/articles/nojo...basket_2007.pdf

Things removed were:

- child car seats after they became law to have one for children under a certain height

- Orange juice, just before a predicted inflation busting rise (it about doubled)

- loaf of bread, it was going up in 2006 too

- TV License (as government classified it as a tax, after saying rises would be above 2%)

In:

+ Champagne, after the chancellor froze duty on it.

The 2007 list seems more reasonable, but I would go on to question weightings and substituion (i.e. I don't believe the ONS are specific enough to buy the same branded product, they would probably pick things like 'branded premium range' etc)

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Have a look at the 2006 list.

http://www.statistics.gov.uk/articles/nojo...basket_2007.pdf

Things removed were:

- child car seats after they became law to have one for children under a certain height

- Orange juice, just before a predicted inflation busting rise (it about doubled)

- loaf of bread, it was going up in 2006 too

- TV License (as government classified it as a tax, after saying rises would be above 2%)

In:

+ Champagne, after the chancellor froze duty on it.

The 2007 list seems more reasonable, but I would go on to question weightings and substituion (i.e. I don't believe the ONS are specific enough to buy the same branded product, they would probably pick things like 'branded premium range' etc)

wasnt the bus pass removed from the stats and replaced with pensioners bus pass?.

Edited by crash2006

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Actually the food in the basket is getting cheeper..

Did anyone not notice the subtle change???

the SELECTED loaf of bread is like the SELECTED brand of fags.

the SELECTION can be changed to massage the figures.

LAST YEAR...KINGSMILL TOASTIE-LOAF(90p) THIS YEAR.......MOTHERS PRIDE THICK SLICE(79p)

LAST YEAR..20B+H(4.99) THIS YEAR...20 LAMBERT+BUTLER(4.79)

presto!!!!...instant price deflator for otherwise inflationary goods.

....that's magic!! :P

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like food 22 items but only 10.3% yet recreation and culture has 17 items and accounts for 15.3%

housing 5 items yet has 11.5 %. it just doesnt add up.

The CPI is ******. Amazing the BOE have a reputation to save considering they have been slavishly following their imposed remit and making up all matter of nonsense about how they are controlling inflation, it is a toal and utter headfake and a lie. A lot fo products that have dropped in price or haven't risen much are basically crap, cheap knockoffs and slave labour produced rubbish.

(From comment from the link) This is real inflation and it isn't just going on at the Open. Rip off, priced out, over-taxed, clapped out Britain, reduced to charging ever more to justify the sums paid by business and people to operate and live in it.

At the Open Golf stalls were charging £2.50 for a HALF litre of water. £5 per litre for something which comes free, five times the cost of petrol which has to be expensively extracted from the sea bed or desert, then still more expensively refined and taxed. Excluding the fuel tax, this makes that water 20 times the price of petrol!

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