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Cpi - Just In - Up To 3.8%


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My old student loan is going to get more expensive too.

I wonder how high real inflation is as they are just manipulated figures which are meaningless.

Looks like we are going to get some more letters from Mystic Merv about how inflation is out of his control and he can't do anything but I'll still have my £290k please. I would love to be a failure and be on that money. Surely to god his pay should be performance related.

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Guest KingCharles1st

THis is totally irrelevant compared to the 5% min repayment of credit card balance news-

I wonder if they ought to stretch the inflation figures to cover banking and financial robbery charges... :blink:

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Consumer Price Index annual inflation (CPI) rose to 3.8 per cent in June, up from 3.3 per cent in May.

size=2]RPI inflation rose to 4.6 per cent in June, up from 4.3 per cent in May. The main factors affecting the CPI also affected the RPI.

Additionally, there was a large downward contribution from housing.

RPIX inflation – the all items RPI excluding mortgage interest payments – was 4.8 per cent in June, up from 4.4 per cent in May.

Electricity, gas and other fuels rose to 13.8 per cent on the year and were up from 11.2 per cent in May.

Food inflation alone has risen to 10.6 per cent, up from 8.7 per cent in May. This was again due to rising meat costs, particularly beef. Meat rose to 11.2 per cent, up from 8.8 per cent in May.

It's like the worst bits of the 70s and 90s crash together.

http://www.statistics.gov.uk/pdfdir/cpi0708.pdf

http://www.statistics.gov.uk/pdfdir/cpinr0708.pdf

Edited by maxwell
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Guest pioneer31

My October pay rise is RPI related, thank god.

Can I just clear something up.....

The BoE's remit is to control inflation using IR's, primarily.

They didn't attempt to stop the rot when everyone could see it coming and let HPI go mental. IR's were kept LOW

Now, they've thrown in the towel because it's too late, so they want to keep IR's LOW.

Ermmm, what's the point of the Bank of England?

Can't we make them redundant? They serve no purpose.

Edited by pioneer31
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My old student loan is going to get more expensive too.

I wonder how high real inflation is as they are just manipulated figures which are meaningless.

Looks like we are going to get some more letters from Mystic Merv about how inflation is out of his control and he can't do anything but I'll still have my £290k please. I would love to be a failure and be on that money. Surely to god his pay should be performance related.

The gold plated pension with a pot of £4m means he can walk off any time he likes.

Not bad pay for wrecking the economy of a country and creating an environment where banks fold and we can now manufacture next to sweet FA thanks to raised cost of of land/premises/accommodation for workers/everything that is needed in a functioning economy.

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My October pay rise is RPI related, thank god.

Can I just clear something up.....

The BoE's remit is to control inflation using IR's, primarily.

They didn't attempt to stop the rot when everyone could see it coming and let HPI go mental. IR's were kept LOW

Now, they've thrown in the towel because it's too late, so they want to keep IR's LOW.

Ermmm, what's the point of the Bank of England?

Can't we make them redundant? They serve no purpose.

You work in a Uni right? Me too.

I do seriously wonder if they will pay it though, espicially if its over 5% by then. At the time of negoating they were expecting nearer 2.5%.

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I would have to say that even if the IR's had been higher this decade we would still have a major inflation problem as the issue is clearly global, UK rates have no bearing on what China/India or Russia do etc....

Central banks have become useless unless they all work together. However national interests will never allow that to happen. I have long thought the worlds central banks are being played by the markets, they are too predictable which means it's an easy bet.

In some countries such as Mexico and Italy rising prices for staple foods have become a hot political issue. In all countries they have complicated matters for central banks. “There’s little central banks around the world can do to prevent food prices from rising,” Mexico’s central-bank governor, Guillermo Ortiz, said last week. Mexico has just raised interest rates, as has Australia, in response to the commodity-price boom.
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Clothing was down 8%. Without this, maybe CPI would have been over 4%? Clothing must have a large weighting, given that food, energy and most other areas are well up.

When the price of clothing from China and SE Asia starts to rise, CPI will go through the roof.

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Guest pioneer31
You work in a Uni right? Me too.

I do seriously wonder if they will pay it though, espicially if its over 5% by then. At the time of negoating they were expecting nearer 2.5%.

They can't go back on it can they?

If they do half the payrise, I'll half my output.

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Yowzer! Those old tax-free RPI linked NS&I bonds are doing well (at 1.35% above RPI). Might even be worth getting the new ones...

If I hadn`t been a member of this forum for a year or two, I wouldn`t have known about, or chosen those bonds.

Thanks folks.

Yes, I realise that even at 5.95% tax free, I`m still losing money. Hang on a second ! They are now saying RPI = 4.8%, so make that 6.15%.

Oh, and another thing......

BBC - CPI UP = BAD

HPI UP = GOOD <_<

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To all those saying their student loans are going to get more expensive - not yet they're not. From September, they will get cheaper.

Student loans are based on the RPI in March each year. According to the ONS, this was 4.8% in 2007/03 (hence the current 4.8% rate). This March it was down to 3.8%.

So for a year at least, they'll be 1% cheaper. Mine will be paid off by then anyway tho so I no longer care - glad to get rid of that extra 9% burden after 5 long years :)

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Guest pioneer31

Dear Gordon,

After having ignored inflation over the past few years and kept IR's criminally low we've arrived at a situation where inflation is rampant.

Too late now, nothing we can do......but IR's must stay low.

p.s. Can I have my 40% pay rise now?

Thanks,

Useless Merv

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THis is totally irrelevant compared to the 5% min repayment of credit card balance news

5% is not nearly enough. They should make the minimum payment 10% across the board, that would sort the feckers out! They should also stop ALL new credit card lending to force people to use their debit cards :P

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Just look at the MOM figures on the ONS website.

Unless they decide to "slow down" the increases, CPI etc will be nearly 6% by December, forget about the 4% that Merv was talking about.

http://www.statistics.gov.uk/statbase/Product.asp?vlnk=868

Those index linked certs are looking good, but I doubt that other accounts will be doing badly either!

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