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Who Is Falsifying The Inflation Rate Figures?
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Everything is now at least, at least, 20% dearer than it was 6 months ago. Why are these inflation figures being deflated?
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//Everything is now at least, at least, 20% dearer than it was 6 months ago.//
Possibly everything you buy is (though you'd have to be extremely unlucky). But not everything that is measured by the ONS is:
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Possibly everything you buy is (though you'd have to be extremely unlucky). But not everything that is measured by the ONS is:
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This Sky article (from yesterday) shows some items have gone down.
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Not everything is dearer, Clarion. I'm paying the same as I was 12 months ago for jars of instant coffee, meat from my butchers is much the same (usual seasonal fluctuations in price of lamb), a lot of fruit and veg is the same price with some even cheaper. Not much change in household goods such as cleaning materials and laundry detergents nor bathroom stuff - shampoo, toothpaste etc
From the Office for National Statistics (ONS),
'The shopping basket
Consumer price inflation is the rate at which the prices of goods and services bought by households rise or fall. Imagine a very large “shopping basket” containing those goods and services bought by households. As the prices of the various items in the basket change over time so does the total cost of the basket. Movements in consumer price inflation indices represent the changing cost of the shopping basket.
Currently, around 180,000 separate price quotations are collected every month to compile the indices, covering around 730 representative consumer goods and services. These prices are collected in around 140 locations across the UK, from the internet and over the phone.'
'The shopping basket
Consumer price inflation is the rate at which the prices of goods and services bought by households rise or fall. Imagine a very large “shopping basket” containing those goods and services bought by households. As the prices of the various items in the basket change over time so does the total cost of the basket. Movements in consumer price inflation indices represent the changing cost of the shopping basket.
Currently, around 180,000 separate price quotations are collected every month to compile the indices, covering around 730 representative consumer goods and services. These prices are collected in around 140 locations across the UK, from the internet and over the phone.'
Your right, bob, established tech is definitely cheaper than it was. Bizarrely I had an email from Virgin last week - not only have they increased my broadband speed they have reduced my monthly bill. First time they've done that without me haggling, no doubt it is so they can manipulate their data and claim they are faster and cheaper than x y and z on average.
Where the figures are misleading is that its based on a 'representetive' basket of goods but its an average. There really needs to be seperate figure s for different groups. The poorest foe example have most of there income on energy and food like milk bread etc and they rocketed in price so there inflation may be 20% minimum. Of course tge impact may be less if people trade down and choose cheaper options. . Shop just for bargains or go to foodbanks
Thanks for all the replies folks. I must say I'm baffled at some of the answers from people saying prices haven't changed, or have only risen slightly. That is not my experience of using the supermarkets. Also, has the price of petrol not gone up? Has the price of energy not gone up? As Zebu says, the price of staple food items has risen by more than 20%. What's that? Energy and fuel prices are not included in the ONS statistics? If that's the case, then it's no wonder the inflation rate is so low.
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