Good News, Inflation Falls To 3.4%

[ToraToraTora]

https://www.bbc.co.uk/news/live/business-68581526

Great work by the government. Interest rate cuts should follow after a few months. Just in time for Labour to wreck it.

[douglas9401]

Has that figure had 'indirect costs' applied?

[Auntypoll]

Still 1.5% above the Bank of England target rate. Where they are getting the figures from beats me, prices in supermarkets are rising weekly. More massaging of the figures before the general election, people aren't stupid.

[nicebloke1]

BS springs to mind here. Food prices are still rising or remaining at the same level of what they've been for the last 18 months A good example is a pack of 3 peppers were around £1 per pack now between £1.68/ £ 1.80. I could list hundreds of examples, and thats just food. Hunt is dreaming and telling porkies me old china. Even if this BS was true ALL prices including house hold bills will remain high.

[ToraToraTora]

...wait till Labour get in, you'll look back on these halcyon days with fondness.

[ToraToraTora]

09:41 so the ONS is now fabricating figures is it? Right oh!

[nicebloke1]

This whole country and its present government is one big lie me old china.

[ToraToraTora]

The ONS do the stats me old china, not the government. In the end it's just simple arithmetic, easily checkable. I presume they'll suddenly start telling the truth if Labour get in will they?

[Old_Geezer]

Interest rates are permanently too low, have been for decades. Been no encouragement to save in all that time. The message is spend, spend, spend, then get the State (i.e. prudent citizens) to bail you out in later life.

[youngmafbog]

//Food prices are still rising or remaining at the same level of what they've been for the last 18 months//

 

Ok, I think you are not quite getting inflation, a quite common misinterpretation.

If the prices goes up one year then that year reports and inflation, if the prices went down in the following year then that would be deflation (Not good at all).

If the prices remained the same then that would be zero inflation.

Does that help explain it?

My personal opinion is that a healthy inflation rate is 2 - 4%. 

[youngmafbog]

10:16, honestly?  Do you honestly have a single clue about economics?  Even an inchy bit?

[youngmafbog]

//Interest rates are permanently too low, have been for decades.//

Interest rates and inflation rates dont necesarily go hand in hand.  Interest rates are one mechanism used by the BoE to control inflation (up or down) but not the only one.  Plus Interest rates these days are much more influenced by Global rates as much money is raised on the International markets.

[ToraToraTora]

I think you have used too many words in that YMB, just "do you have a clue?" would have done.

[nicebloke1]

What on earth does someone know about the cost of living like Hunt who can throw away 100k. I bet he's never set foot inside a supermarket, he's one big prat.

[gulliver1]

I'm afraid it's far too late for the Tories to fight their corner. The die has been cast That ship has already sailed and is heading towards an iceberg. This post is a lie too far.

[youngmafbog]

//What on earth does someone know about the cost of living like Hunt who can throw away 100k. I bet he's never set foot inside a supermarket, he's one big prat.//

Much as I hate Hunt he doesnt have to, supermarkets really dont have a massive effect on the countries wealth.

[youngmafbog]

Nope, no clue.

[Old_Geezer]

Interesting, as the mention of interest rates was in the OP.

[youngmafbog]

Yes, but that is becasue at present the BoE are using them to try to control inflation.

I'm not having a go at anyone, just pointing out how they are not intrinsically linked.  We are having a discussion yes?

[gulliver1]

YMB 10.22 I know a lot about lying fraudulent Tory MPs ..Do you?.