Tuesday, April 17, 2012

CPI to hold at 3.4%. Get the f*** outta here!!!

Inflation hopes set to be dashed

Record petrol costs and higher food bills are set to dash any hopes that inflation figures on Tuesday will show a softening in the cost of living. The consumer price index (CPI) rate of inflation is forecast to hold at 3.4% in March - its lowest rate since November 2010 but still far below the Bank of England's 2% target. Inflation has fallen from 5.6% last September due to the waning impact of the VAT hike at the start of 2011, falling energy, food and commodity prices and a number of bill cuts from utility providers in February.

Posted by general congreve @ 12:44 AM (1447 views)
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5 thoughts on “CPI to hold at 3.4%. Get the f*** outta here!!!

  • http://www.ons.gov.uk/ons/rel/cpi/cpi-rpi-basket/2012/cpi-and-rpi-basket-of-goods-and-services—2012.pdf

    Page 3 shows the weightings over time. Might be interesting to see that as a graph…. PHD in bubbles any chance? Once thats up we might then want to see how the weights apply to our own personal weights. I mean someone who only ever uses public transport has no interest in the “motoring cost” section. How they determine actual “housing costs” pre the weighting is also of interest.

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  • sorry … see page 27 for that…

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  • general congreve says:

    @1- So, the observed variation of Alcohol and Tobacco prices is low in the CPI table, I don’t call 27% over two years low myself (personal favourite bottle of wine, but all lines in my supermarket including beer have gone up similarly too). So that’s the first thing I’ve taken away from it, and it’s a complete lie.

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  • general congreve says:

    @1 – Then they claim communication costs are have a high year-on-year variation in price, then it is only a 2.7% weighting in the basket, but if anything my internet, phone and mobile bills are the cheapest they’ve ever been. Completely @rse about tit.

    First two data points I’ve picked out and they don’t stand up to examination. Coincidence?

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  • Exactly re weighting CG – no one is the average, but when they are comparing wrong with wrong so long as they are wrong in a consistent manner then its ok …. right.

    Re the prices themselves….. im sure you have a point, but not being into the grape myself i thought comments on the housing side may be of more interest?

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