Monday, Dec 04, 2006

UK Inflation more like 5.8%

Telegraph.co.uk: Revealed: the real rate of inflation

Inflation data is a mixed bag - but generally high. Pensioners worst hit at 8.9%!!

Posted by nearly30 @ 08:10 AM (2783 views)
Add Comment
Report Article

15 Comments

1. nearly30 said...

Pensioners = 8.9%
Hard-up families (20,000 p.a.) = 4.6%
Middle class families (100,00 p.a.) = 5.8%
'Struggling' families = 5.2%

A spokesman for the Office for National Statistics said: "The CPI and RPI are specifically not intended to measure what people often refer to as 'the cost of living'."

That's good to know then.

Monday, December 4, 2006 08:14AM Report Comment
 

2. nearly30 said...

The online inflation tester is fun = http://www.telegraph.co.uk/money/graphics/2006/12/04/final-inflation.xls

Turns out inflation for me is at 5.4% - cool!!!

Monday, December 4, 2006 08:19AM Report Comment
 

3. tyrellcorporation said...

Brilliant this is on the front page though... shows the MPC to be little more than a bunch of Government stooges...

Monday, December 4, 2006 08:34AM Report Comment
 

4. george monsoon said...

Its getting closer, but still nothing like the real level of inflation, which I strongly suspect is nearer 10%

Lets look at the facts.

My cost of living..

1 pack of rizla cigarette papers - 25% increase on the same time last year
1 loaf of bread - 5% increase on a warburtons toastie
1 mnth council tax - 8.5% increase on last year
1 mnth car insurance - 17% increase on same time last year (same vendor, no claims made)

Anyone fancy creating our own CPI, just to verify what we already know.
Maybe we should all decide what the top 10 items are that we all NEED .
take a sample of each of the 10 items from different geographic locations around the country. (I am North West England)
start a benchmark and monitor each month?

here are some suggestions of necessary things we all have to pay for.

cost of petrol per litre.
council tax (compare this years with next years, when it arrives in april and calculate the % increase)
gas price - per unit, and standard charges on top.
electricity - per unit and standard charges
car tax
car insurance

That's six items already..

Monday, December 4, 2006 09:00AM Report Comment
 

5. Kirsty said...

MOT`s.10% rise each year.

Monday, December 4, 2006 09:12AM Report Comment
 

6. Nohpc said...

The same people that are hit hardest by inflation are the people who's lives will be potentially ruined by high interest rates. Yes inflation makes it slightly harder to get by but higher rates to fight inflation may have people losing their homes etc. So which is the lesser of 2 evils? I think it is pretty obvious.

Monday, December 4, 2006 09:30AM Report Comment
 

7. little professor said...

Used the online calculator to work out my inflation rate - it was only 3.1%!

Monday, December 4, 2006 10:19AM Report Comment
 

8. tyrellcorporation said...

LP, do you burn inkjet printers to keep warm, eat DVD players when you're peckish and fuel your car with electric toothbrushes?!?

My IR is 6.2%!!! I reckon that's conservative too...

Monday, December 4, 2006 10:38AM Report Comment
 

9. Techmind said...

Middle class families = 100k p.a. (!)

So that's why house prices have been able to rise so much... are still "affordable", mortgage = 25-30% take home pay etc etc.

Realise even with PhD (employed in science/tech industry) I'll never make "middle class" :-(

Monday, December 4, 2006 10:47AM Report Comment
 

10. Chillilizard said...

When I first arrived in london, bus fare was 70p. Now its 1.30 or something and that's over 3 years.

I think a website like 'www.therealinflationrate.co.uk' is a brilliant idea. It should include a confirmation feature so people can post the price, and a telephone number of whoever is selling the particular commodity or whatever. And other people can phone up and confirm the price and post the confirmation on the web site. This should produce very accurate numbers. Also, like ebay, people should get a rating based on how disputed their numbers are.

This really frustrates me as I think to myself that so many people have realised this for so long, and yet all our complaining seems to do nothing.

Interestingly in the current edition of the economist there is a statistic mentioning that for people miles travelled, trains represent 6% whereas roads measure in at a staggering 85%. And yet the government is spending something like 60% of its transport budget on trains. This is a subsidy on what is supposed to be a competitive private enterprise. Spending is at 5.9billion - 3 times what it was before privatisation.

Monday, December 4, 2006 11:23AM Report Comment
 

11. denzil said...

5.9% for me. Feels higher though.

BTW Excellent work once again by that man Edmund Conway, Economics Editor at the Telegraph. His investigative reporting is in stark contrast to that of Smith at the Times.

Monday, December 4, 2006 11:50AM Report Comment
 

12. Boarder said...

There's only one inflation measure I use and that's M4. It's currently 16%

Monday, December 4, 2006 12:39PM Report Comment
 

13. Dohousescrashinthewoods said...

Cracking idea, GM, the PPI: "Peoples' Price Index"

Monday, December 4, 2006 12:55PM Report Comment
 

14. Techmind said...

I get 5.3% if I put in my real figures.

But the spreadsheet gives me 11.2% if I "pretend" I'd just bought a house and was spending 1k/month on mortgage repayments, and the full fraction of Council tax, utility bills etc.

Monday, December 4, 2006 01:25PM Report Comment
 

15. devil's advocate said...

My inflation rate is 3.1% up from 2.8%. Would be 5.7% if I had a mortgage. The rate should include the fact that I want to buy a hpuse and the HPI is going thru the roof. My inflation rate will below if i'm saving ever penny to buy a property.

Monday, December 4, 2006 07:41PM Report Comment
 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies