Not surprised to see this. Food is up so much in the shops.
Lmao I have been saying this for months, the numbers are a god damn lie, the official numbers, the CPI or whatever, its all bollocks, they are manipulated to avoid giving out the real numbers, even in the states they changed the definition of recession to avoid it.
We got inflation inflation now?
That sounds much closer to the truth than official figures.
Andrew Bailey and the rest of the Bank of England Monetary Policy Committee need to follow the Fed’s lead and raise interest rates at least 0.75% next week. Piddling about with 0.25% rises every six weeks isn’t cutting it any more, the situation is clearly getting out of control.
Imagine being such a dick that you choose to write “68% higher” instead of “13.8%, not 8.2%”. I hate these kind of journalists.
This is a complex issue.
Energy % increase is approx 65% yoy
Fuel is approx 49% 06-2021 to 06-2022
Fresh food approx 10%
Housing massive increase rent/buy
but somehow inflation is less than 10%
so obviously a lie if you think of inflation as a measure of the cost of living
however there is a benefit for us the little people to keeping the official inflation print low
companies can just arbitrarily increase prices inline with inflation and get away with it, who is checking if the particular costs went up by 10%, maybe it was only 6%, but the producer can just say “we needed to increase price inline with inflation”
we should have checks for price gouging
Official inflation numbers have always been bullshit.
Bear in mind this is a press release by Truflation with the express purpose of advertising Truflation as a business.
Just because you may want the numbers it yields to be true, does not mean they are true.
I personally believe inflation is probably higher than what our numbers suggest, but that doesn’t mean I will take the word of a paid PR advert for a company I’ve never heard of before as the gospel truth and neither should any of you.
these rookie numbers, we need to pump these numbers up. /s dont expect them to ever tell you real numbers
Now factor in shrinkflation too
So where do the unofficial numbers come from? Officially that is.
When you work in a supermarket and are the one who has to deal with changing the price tickets to reflect increases / decreases and weight changes. I see the price changes physically and to me after a while it all blurs together and I forget what the old price is after a while. Can’t imagine what it’s like for the average customer coming in to buy essentials.
There’s no such thing as a single figure for inflation, because every product is going to be affected differently.
Products used to calculate inflation used CPI, salmon, caviar, champagne, goose, peasant. Products bought by 99.9% of UK citizens bread, milk, rice, dried pasta
Cost of food is through the roof. My weekly shop is up well over 20 percent.
What Is Inflation?
Inflation is a rise in prices, which can be translated as the decline of purchasing power over time. The rate at which purchasing power drops can be reflected in the average price increase of a basket of selected goods and services over some period of time. The rise in prices, which is often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.
That’s so weird. I was just watching a really good YouTube video about, including why it’s almost certainly much higher than official figures. I turned it off to open reddit and this is the top post. Video here: [https://www.youtube.com/watch?v=VEZsgAgYDhw](https://www.youtube.com/watch?v=VEZsgAgYDhw)
Yep. I’d say it’s 30% at least
68% higher than official numbers… which is a percentage itself…
What a great way to trick idiots in to an “OMG WTF?!” reaction so they click the article and find out it’s +5.6%.
20 comments
Not surprised to see this. Food is up so much in the shops.
Lmao I have been saying this for months, the numbers are a god damn lie, the official numbers, the CPI or whatever, its all bollocks, they are manipulated to avoid giving out the real numbers, even in the states they changed the definition of recession to avoid it.
We got inflation inflation now?
That sounds much closer to the truth than official figures.
Andrew Bailey and the rest of the Bank of England Monetary Policy Committee need to follow the Fed’s lead and raise interest rates at least 0.75% next week. Piddling about with 0.25% rises every six weeks isn’t cutting it any more, the situation is clearly getting out of control.
Imagine being such a dick that you choose to write “68% higher” instead of “13.8%, not 8.2%”. I hate these kind of journalists.
This is a complex issue.
Energy % increase is approx 65% yoy
Fuel is approx 49% 06-2021 to 06-2022
Fresh food approx 10%
Housing massive increase rent/buy
but somehow inflation is less than 10%
so obviously a lie if you think of inflation as a measure of the cost of living
however there is a benefit for us the little people to keeping the official inflation print low
companies can just arbitrarily increase prices inline with inflation and get away with it, who is checking if the particular costs went up by 10%, maybe it was only 6%, but the producer can just say “we needed to increase price inline with inflation”
we should have checks for price gouging
Official inflation numbers have always been bullshit.
Bear in mind this is a press release by Truflation with the express purpose of advertising Truflation as a business.
Just because you may want the numbers it yields to be true, does not mean they are true.
I personally believe inflation is probably higher than what our numbers suggest, but that doesn’t mean I will take the word of a paid PR advert for a company I’ve never heard of before as the gospel truth and neither should any of you.
these rookie numbers, we need to pump these numbers up. /s dont expect them to ever tell you real numbers
Now factor in shrinkflation too
So where do the unofficial numbers come from? Officially that is.
When you work in a supermarket and are the one who has to deal with changing the price tickets to reflect increases / decreases and weight changes. I see the price changes physically and to me after a while it all blurs together and I forget what the old price is after a while. Can’t imagine what it’s like for the average customer coming in to buy essentials.
There’s no such thing as a single figure for inflation, because every product is going to be affected differently.
Products used to calculate inflation used CPI, salmon, caviar, champagne, goose, peasant. Products bought by 99.9% of UK citizens bread, milk, rice, dried pasta
Cost of food is through the roof. My weekly shop is up well over 20 percent.
What Is Inflation?
Inflation is a rise in prices, which can be translated as the decline of purchasing power over time. The rate at which purchasing power drops can be reflected in the average price increase of a basket of selected goods and services over some period of time. The rise in prices, which is often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.
That’s so weird. I was just watching a really good YouTube video about, including why it’s almost certainly much higher than official figures. I turned it off to open reddit and this is the top post. Video here: [https://www.youtube.com/watch?v=VEZsgAgYDhw](https://www.youtube.com/watch?v=VEZsgAgYDhw)
Yep. I’d say it’s 30% at least
68% higher than official numbers… which is a percentage itself…
What a great way to trick idiots in to an “OMG WTF?!” reaction so they click the article and find out it’s +5.6%.
^(Disclaimer: Yes, I was one of those idiots.)