That headline is a very odd way to describe prices continuing to rise at a slightly lower rate (6.8% instead of 7.9%)
Still needs to fall a lot more.
How many times today am I going to have to explain to friends, that this doesn’t mean prices will be coming down?
6.8%
The target is 2%, so still more than three times faster than the Bank of England want. And food prices are rising even more.
From cnbc as article doesn’t mention core inflation
> Core inflation — which excludes volatile energy, food, alcohol and tobacco prices — stayed 6.9%, unchanged from June and slightly above a consensus forecast of 6.8%.
💀
Very strange headline. Why not just say “sharp fall in inflation”?
>Core CPI (excluding energy, food, alcohol and tobacco) rose by 6.9% in the 12 months to July 2023, unchanged from June; the CPI goods annual rate slowed from 8.5% to 6.1%, while the CPI services annual rate rose slightly from 7.2% to 7.4%.
Services CPI still hasn’t peaked yet Bank of England pointed out this is the most important stat they’re looking for to stop hiking interest rates
There’s a point where people can no longer afford the same number of things, so they cut back and prioritise. This hits the profits of companies, who slowly, oh so fucking slowly realise, that the stone they are squeezing, can’t give any more blood than what they are getting. So, price inflation starts to slow down.
Rejoice fellow stones, for now they have pushed your blood squeezing to the brink of collapse!!!!
yet prices are still rising
Respect for that headline! It makes it obvious for the simpletons. If you write “sharp fall in inflation” people will just read that as prices going down
“Price rises slowing” would be a better way to communicate this.
Sharp to a simpleton like me would be a 5% or more reduction.
That’s why I don’t write newspaper articles or work for a bank I guess
Does this count yet or is it still just a rounding error? 🎣
I ain’t struggling like most folk but even I’m like WTF, when my 10min shop for small bit and pieces are now on average £20 from £10.
14 comments
That headline is a very odd way to describe prices continuing to rise at a slightly lower rate (6.8% instead of 7.9%)
Still needs to fall a lot more.
How many times today am I going to have to explain to friends, that this doesn’t mean prices will be coming down?
6.8%
The target is 2%, so still more than three times faster than the Bank of England want. And food prices are rising even more.
From cnbc as article doesn’t mention core inflation
> Core inflation — which excludes volatile energy, food, alcohol and tobacco prices — stayed 6.9%, unchanged from June and slightly above a consensus forecast of 6.8%.
💀
Very strange headline. Why not just say “sharp fall in inflation”?
>Core CPI (excluding energy, food, alcohol and tobacco) rose by 6.9% in the 12 months to July 2023, unchanged from June; the CPI goods annual rate slowed from 8.5% to 6.1%, while the CPI services annual rate rose slightly from 7.2% to 7.4%.
Services CPI still hasn’t peaked yet Bank of England pointed out this is the most important stat they’re looking for to stop hiking interest rates
There’s a point where people can no longer afford the same number of things, so they cut back and prioritise. This hits the profits of companies, who slowly, oh so fucking slowly realise, that the stone they are squeezing, can’t give any more blood than what they are getting. So, price inflation starts to slow down.
Rejoice fellow stones, for now they have pushed your blood squeezing to the brink of collapse!!!!
yet prices are still rising
Respect for that headline! It makes it obvious for the simpletons. If you write “sharp fall in inflation” people will just read that as prices going down
“Price rises slowing” would be a better way to communicate this.
Sharp to a simpleton like me would be a 5% or more reduction.
That’s why I don’t write newspaper articles or work for a bank I guess
Does this count yet or is it still just a rounding error? 🎣
I ain’t struggling like most folk but even I’m like WTF, when my 10min shop for small bit and pieces are now on average £20 from £10.