Not surprised, given the wage data yesterday, and that there’s been no productivity gains
> Private school fees were another factor, as new VAT rules meant prices rose nearly 13% this month
Can we get individual figures of each thing that makes up the Consumer Price Index, like groceries and energy? I don’t care about the cost of private school fees
[deleted]
> Rise driven partly by air fares, meat, bread and private school fees
> The chief economist of the Office for National Statistics, Grant Fitzner, says: “The rise was driven by air fares not falling as much as we usually see at this time of year, partly impacted by the timing of flights over Christmas and New Year.
Not too bad. Eggs aren’t on the list.
“Inflation soared in 2022 because oil and gas were in greater demand after the Covid pandemic, and energy prices surged again when Russia invaded Ukraine.”
This is so incredibly wrong, the fact that it is framed this way by organisations like the BBC is shameful
How much inflation is actually good? High inflation is bad. Low inflation is bad. No inflation is very bad. Negative inflation is catastrophic.
Maybe I’m just dumb but can someone tell me what the just right amount of inflation is for context please
Like it went up 3% or annual estimates put it at 3% for the year?
The interest rate currently is about average so its reasonable to expect it stay for longer. I know its inflation, but related
Oh great now we get to enjoy stagflation for the next god knows how long.
Yet more suffering we will have to endure. This country is killing its people through mismanagement. The Tories are to blame and the jury is out on Labour. Over the last 20 years we have been shit on. I would hate to be under 25 those poor kids will have to live with the damage these Governments have caused.
Cut interest rates during inflation pressure. BOE independence seems unclear to me
Yet only yesterday a slight decrease was forecast by experts. Now we will see prices rise again in the shops by next month by another 5-10p on everything.
I used to treat myself in the supermarket every week just a few years back, on top of buying a few quids’ worth of stuff for the food bank; this was Sainsbury’s as well, so not the cheapest supermarket around. Now I am lucky if I have enough left over for a big treat once a month. First world problems and all that but it is noticeable and there will be plenty of people who have slowly been pushed into poverty and ho using food banks in a similar timeframe. What happens when people can no longer afford to donate to food banks because they themselves have to watch the pennies more than ever?
I wish we could all get together and do a complete ‘no spend’ for a month.
The middle classes, working classes. Even those on universal credit.
The wealthy would shit themselves. After all, the only thing these lot understand is money. When I say wealthy I don’t mean high earners or higher rate tax payers. Those that own big business and debt.
If we only buy what is needed for a month they would have no choice but to bring prices down to suit demand.
We need food, utilities, council tax. Basically what we need to live and not get thrown in prison.
Our spare money could go towards paying down debts and mortgages which would piss off the wealthy in a huge way.
I know my suggestion isn’t perfectly ironed out but we as a community must do something about this. We’re getting shafted by the government and the wealthy.
We need to put aside our politics and do what’s right for everyone otherwise they’ll keep taking more and more of our assets and earnings.
My wife and I have done this for the past month and feel great. Almost liberated. Just purchased the basics and our monthly spend has halved and we don’t feel like we’re missing out on anything.
After all. How many phones do we need? How many clothes, bags, subscriptions, beds, cars etc… do we actually need.
I’d love to see how this played out if we all did the same.
We need to take action and cut out discretionary spending to almost zero. The impact would be devastating to the super wealthy and the government.
Rachel from accounts would halve interest rates in a month if we did this.
Come on UK. Stop your discretionary spending now and see what happens in a months time.
Forecasts have been saying it will spike to 5% then fall again
Great so 0.1% growth but 3% inflation means my salary is still paying less
Why are private school fees included in the calculation when they represent such a small fraction of people?
I see the Starmer spin bots are at work, debating the definition of inflation and whether it’s really a bad thing.
Inflation is the new taxation (or tax hikes).
Same result but less direct than a tax hike.
Not to mention tax bands have stayed the same which means higher effective taxes for the salaries that increase.
Great! I technically got a paycut then with my under inflation payrise.
Better approve two new runways at Heathrow.
It’s frustrating that consecutive UK governments have been unwilling to make meaningful economic reforms. There is huge demand in the UK for housing that could be addressed with much more liberal planning/zoning and energy which could be addressed with changes to market structure. This plays right into the hands of less centrist political parties.
Another spectacular result by Rachel from complaints.
Just wait until we get the figures for April with the much higher than inflation increases to utilities, council tax and everything else. That’s before even thinking about a potential trade war with the US. This is the start of a new spike. Those who think interest rates are coming down further are dreaming.
Oh great so that 2.8% pay rise for public sector they announced in December is now officially below inflation. Lovely.
WTF do private school fees have to do with grocery costs?
The clowns in charge of our economy need hanging.
I’m being thick here because I don’t know economics. Post covid costs went up enormously, and how they’re trickling along at a few percent here and there (on everything), how was that huge increase ever accounted for? I’m talking real term figures e.g rent going up hundreds a month (is it because mortgages technically only went up a % or 2?)
25 comments
Not surprised, given the wage data yesterday, and that there’s been no productivity gains
> Private school fees were another factor, as new VAT rules meant prices rose nearly 13% this month
Can we get individual figures of each thing that makes up the Consumer Price Index, like groceries and energy? I don’t care about the cost of private school fees
[deleted]
> Rise driven partly by air fares, meat, bread and private school fees
> The chief economist of the Office for National Statistics, Grant Fitzner, says: “The rise was driven by air fares not falling as much as we usually see at this time of year, partly impacted by the timing of flights over Christmas and New Year.
Not too bad. Eggs aren’t on the list.
“Inflation soared in 2022 because oil and gas were in greater demand after the Covid pandemic, and energy prices surged again when Russia invaded Ukraine.”
This is so incredibly wrong, the fact that it is framed this way by organisations like the BBC is shameful
How much inflation is actually good? High inflation is bad. Low inflation is bad. No inflation is very bad. Negative inflation is catastrophic.
Maybe I’m just dumb but can someone tell me what the just right amount of inflation is for context please
Like it went up 3% or annual estimates put it at 3% for the year?
The interest rate currently is about average so its reasonable to expect it stay for longer. I know its inflation, but related
Oh great now we get to enjoy stagflation for the next god knows how long.
Yet more suffering we will have to endure. This country is killing its people through mismanagement. The Tories are to blame and the jury is out on Labour. Over the last 20 years we have been shit on. I would hate to be under 25 those poor kids will have to live with the damage these Governments have caused.
Cut interest rates during inflation pressure. BOE independence seems unclear to me
Yet only yesterday a slight decrease was forecast by experts. Now we will see prices rise again in the shops by next month by another 5-10p on everything.
I used to treat myself in the supermarket every week just a few years back, on top of buying a few quids’ worth of stuff for the food bank; this was Sainsbury’s as well, so not the cheapest supermarket around. Now I am lucky if I have enough left over for a big treat once a month. First world problems and all that but it is noticeable and there will be plenty of people who have slowly been pushed into poverty and ho using food banks in a similar timeframe. What happens when people can no longer afford to donate to food banks because they themselves have to watch the pennies more than ever?
I wish we could all get together and do a complete ‘no spend’ for a month.
The middle classes, working classes. Even those on universal credit.
The wealthy would shit themselves. After all, the only thing these lot understand is money. When I say wealthy I don’t mean high earners or higher rate tax payers. Those that own big business and debt.
If we only buy what is needed for a month they would have no choice but to bring prices down to suit demand.
We need food, utilities, council tax. Basically what we need to live and not get thrown in prison.
Our spare money could go towards paying down debts and mortgages which would piss off the wealthy in a huge way.
I know my suggestion isn’t perfectly ironed out but we as a community must do something about this. We’re getting shafted by the government and the wealthy.
We need to put aside our politics and do what’s right for everyone otherwise they’ll keep taking more and more of our assets and earnings.
My wife and I have done this for the past month and feel great. Almost liberated. Just purchased the basics and our monthly spend has halved and we don’t feel like we’re missing out on anything.
After all. How many phones do we need? How many clothes, bags, subscriptions, beds, cars etc… do we actually need.
I’d love to see how this played out if we all did the same.
We need to take action and cut out discretionary spending to almost zero. The impact would be devastating to the super wealthy and the government.
Rachel from accounts would halve interest rates in a month if we did this.
Come on UK. Stop your discretionary spending now and see what happens in a months time.
Forecasts have been saying it will spike to 5% then fall again
Great so 0.1% growth but 3% inflation means my salary is still paying less
Why are private school fees included in the calculation when they represent such a small fraction of people?
I see the Starmer spin bots are at work, debating the definition of inflation and whether it’s really a bad thing.
Inflation is the new taxation (or tax hikes).
Same result but less direct than a tax hike.
Not to mention tax bands have stayed the same which means higher effective taxes for the salaries that increase.
Great! I technically got a paycut then with my under inflation payrise.
Better approve two new runways at Heathrow.
It’s frustrating that consecutive UK governments have been unwilling to make meaningful economic reforms. There is huge demand in the UK for housing that could be addressed with much more liberal planning/zoning and energy which could be addressed with changes to market structure. This plays right into the hands of less centrist political parties.
Another spectacular result by Rachel from complaints.
Just wait until we get the figures for April with the much higher than inflation increases to utilities, council tax and everything else. That’s before even thinking about a potential trade war with the US. This is the start of a new spike. Those who think interest rates are coming down further are dreaming.
Oh great so that 2.8% pay rise for public sector they announced in December is now officially below inflation. Lovely.
WTF do private school fees have to do with grocery costs?
The clowns in charge of our economy need hanging.
I’m being thick here because I don’t know economics. Post covid costs went up enormously, and how they’re trickling along at a few percent here and there (on everything), how was that huge increase ever accounted for? I’m talking real term figures e.g rent going up hundreds a month (is it because mortgages technically only went up a % or 2?)
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