Shocking inflation numbers today
#1
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Shocking inflation numbers today
Year on Year inflation now at 5.2%
Gas bills and clothing in particular are pushing ever higher.
At this sort of level, personal wealth is going to erode at a noticeable rate. London property prices are rising at almost record rates, yet for the average man on the street this has to be putting a big strain on finances.
Anybody really feeling the pinch yet?
Gas bills and clothing in particular are pushing ever higher.
At this sort of level, personal wealth is going to erode at a noticeable rate. London property prices are rising at almost record rates, yet for the average man on the street this has to be putting a big strain on finances.
Anybody really feeling the pinch yet?
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If we're lucky, WWSD. I find it hard to see how we'll avoid recession.
Cookstar, what industry is that? And for how long is that deal guaranteed? Is it union-brokered?
Cookstar, what industry is that? And for how long is that deal guaranteed? Is it union-brokered?
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Maybe "guaranteed" isn't strictly true, but it's been that way for as long as I can remember, and can't see it changing.
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Yep, Russian money and new Greek money - better to buy a London property than pay taxes to the pesky Greek government now they've been forced to get their house in order (or at least be seen to be trying).
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Word on the street is we are due a missive property price crash (London excepted) as the level of unemployed hits critical mass and repossessions ramp up)
#11
Price rises are certainly noticeable when shopping now. Some of the price rises are pretty surprising.
I suppose it is all we can expect after the overborrowing in the past and the large amount of money which is being printed at the moment and beforehand.
Les
I suppose it is all we can expect after the overborrowing in the past and the large amount of money which is being printed at the moment and beforehand.
Les
#12
As long as you are not in it for short term capital gain its a fairly safe bet.
Oh and i've just bought 2 repossessions with juicy discounts
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I really can't see how anyone thought it wouldn't be over 5% given the energy firms have increased prices by 18% in some cases. It will drop after the end of the year as things like the VAT rise drop out, but will probably be too late by then.
The bad news for the chancellor is that this September figure is the figure that pension increases etc. are based on so that's a other nail in the coffin for his deficit/debt reduction plans.
This government are almost as biig a laugh as the last lot.
Two things made me chuckle this week.
A government report into obesity that took months to prepare (and probably cost lots of taxpayers' money) came up with the conclusion that to avoid obesity people should eat less That was bad enough, but then they announced it like it was some revelation LOL!
Secondly the energy summit at the weekend concluded people should shop around for the best deal. Brilliant idea!!! Thank God for the government.... I would never have thought to do tha!
Fcukwits!
The bad news for the chancellor is that this September figure is the figure that pension increases etc. are based on so that's a other nail in the coffin for his deficit/debt reduction plans.
This government are almost as biig a laugh as the last lot.
Two things made me chuckle this week.
A government report into obesity that took months to prepare (and probably cost lots of taxpayers' money) came up with the conclusion that to avoid obesity people should eat less That was bad enough, but then they announced it like it was some revelation LOL!
Secondly the energy summit at the weekend concluded people should shop around for the best deal. Brilliant idea!!! Thank God for the government.... I would never have thought to do tha!
Fcukwits!
Last edited by f1_fan; 18 October 2011 at 11:07 AM.
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Shopping around for the best deal in a cartel is a contradiction in terms. Cameron ought to have been taken to task for letting the energy companies bend him over like that. To me, Ofgem is the most limp-wristed "watchdog" out there. How do they justify their sorry existence?
#15
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Can Ofgem cap the suppliers charge?
Does any other industry have what it charges its customers capped?
Not quite sure how the government are supposed to act in this case?
Ofgem have asked demanded clearly pricing. If they also demand that switching be made easier and contracts are reduced to say 6 months. This would be expected to reduce prices with increased competition.
Although they could all be in it together and price fixing. In this case the government should really grow some *****.
As for inflation. It will be interesting to see by how much VAT reduce the %. Hopfully by the end of 2012 it will calm to around 3%. 2% is just never going to happen.
Does any other industry have what it charges its customers capped?
Not quite sure how the government are supposed to act in this case?
Ofgem have asked demanded clearly pricing. If they also demand that switching be made easier and contracts are reduced to say 6 months. This would be expected to reduce prices with increased competition.
Although they could all be in it together and price fixing. In this case the government should really grow some *****.
As for inflation. It will be interesting to see by how much VAT reduce the %. Hopfully by the end of 2012 it will calm to around 3%. 2% is just never going to happen.
#16
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Inflation 5.2%!
The 5.2% rate is the highest CPI measure since September 2008, and it has never been higher since the CPI measure was introduced in 1997.
That's right folks ..... inflation, the thing the Tories cannot control is now as high as it was in 1997 when the Tories got booted out and Labour had to hammer it right back down again!!
Thanks Tories - you useless articles!!
That's right folks ..... inflation, the thing the Tories cannot control is now as high as it was in 1997 when the Tories got booted out and Labour had to hammer it right back down again!!
Thanks Tories - you useless articles!!
#17
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When I saw the title of the other thread I didn't realise it was CPI at 5.2. That's a shocking figure. Aren't these all reverse engineered to show the most cuddly picture possibly anyway? I'd be more inclined to go with RPI as a benchmark.
I'm just lucky that I can save at the moment. If I was relying on the growth of those savings, I'd be getting nowhere.
I'm just lucky that I can save at the moment. If I was relying on the growth of those savings, I'd be getting nowhere.
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TX.
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#24
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Property is where money should be headed right now.
The Banks are going to go under and all your money lost - at least, with property you have something to touch, feel and enjoy!
The Banks are going to go under and all your money lost - at least, with property you have something to touch, feel and enjoy!
#26
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I like to hold stocks paying a minimum dividend of 5%. That's your inflation covered already, but stocks should be inflation proof to some extent anyway. So in theory, in the long run, the 5% dividend should be real growth if you reinvest it. All things being equal.
Cash in the bank now is a real problem. If someone can save £5k a year, then clearly, if they're starting with something like £10K savings, they'll be adding quite a lot to it for the next few years. Even at £50k, they'll still be adding 10% to it and beating inflation by roughly 5%. But if that same person had £100k, they'd just be keeping it constant by saving £5k a year. Having said that, I wish I had that problem. Lol
But you can see how, for anyone serious about saving, the banks are just a waste of time, and that's not necessarily a good thing. People will be driven to take risks to get the return. Stocks themselves aren't ideal for a lot of people; we don't know what's going to happen to stock prices over the next few years, or how earnings are going to be affected by any potential Euro/US f*ck up.
Cash in the bank now is a real problem. If someone can save £5k a year, then clearly, if they're starting with something like £10K savings, they'll be adding quite a lot to it for the next few years. Even at £50k, they'll still be adding 10% to it and beating inflation by roughly 5%. But if that same person had £100k, they'd just be keeping it constant by saving £5k a year. Having said that, I wish I had that problem. Lol
But you can see how, for anyone serious about saving, the banks are just a waste of time, and that's not necessarily a good thing. People will be driven to take risks to get the return. Stocks themselves aren't ideal for a lot of people; we don't know what's going to happen to stock prices over the next few years, or how earnings are going to be affected by any potential Euro/US f*ck up.
#27
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Shopping around for the best deal in a cartel is a contradiction in terms. Cameron ought to have been taken to task for letting the energy companies bend him over like that. To me, Ofgem is the most limp-wristed "watchdog" out there. How do they justify their sorry existence?
The government(s) need inflation to inflate their debt away. It's always been so.
Dave
#28
I wish British Gas would f*ck off with their adverts every 30 seconds, "Every 5 seconds a boiler breaks down", yes, we know you want to come and charge us 5 grand to replace a grands worth of Boiler you robbing *******s !
I think really, the utilities should be government controlled, most of the infrastructure they are makign their money out of was put in using public money originally and it irks me that the wealthy get share dividends and make profit on people just trying to keep warm, appreciate thats a bit too much like socialism but 20 percent rises to make profit on people not getting hypothermia seems like something that should perhaps be removed from profits or at least Cameron should have a little bit more control over them than a summit that tells people to shop about ffs.
I think really, the utilities should be government controlled, most of the infrastructure they are makign their money out of was put in using public money originally and it irks me that the wealthy get share dividends and make profit on people just trying to keep warm, appreciate thats a bit too much like socialism but 20 percent rises to make profit on people not getting hypothermia seems like something that should perhaps be removed from profits or at least Cameron should have a little bit more control over them than a summit that tells people to shop about ffs.