web analytics

(PRICE) INFLATION UP TO 2.7 PER CENT

By Pete Moore On November 13th, 2012

Apparently it’s “a shock”.

The Treasury said the figures were “disappointing”, but inflation remains far lower than its peak of 5.2pc last September. However there are fears the rate could reach 3.5pc by the middle of next year “great”, because public sector pensions and welfare payments are linked to price inflation, so we’re quids in and the peasants still haven’t noticed that QE is robbing them blind.

I might have misquoted the Treasury there.

5 Responses to “(PRICE) INFLATION UP TO 2.7 PER CENT”

  1. ” Price inflation ” is the only inflation that anyone cares about. It’s the other, esoteric specie of inflation that needs to be in brackets.
    A near trebling of university tuition fees after the Government lifted the cap to £9,000 this year was the main contributor to the rise in inflation.

    BTW, you left some things out. Since few read the links, I have helpfully added them back in.

    Education costs overall rose 19.1pc between September and October – more than twice the size of the next biggest monthly increase for education prices since CPI records began in 1996.

    Food inflation was also behind the rise in CPI after the record wet weather earlier this year left the UK with its worst potato and carrot harvest in living memory, which pushed up vegetable prices, according to the ONS.

  2. 2.7% GTF!!! There is no way that inflation is 2.7%. Where do the statisticians who compile these figures live as it certainly isn’t on this planet.

  3. Inflation is a tricky thing to figure.

    Some prices have gone down in recent years, like the price of houses, etc. or in the US, the price of natural gas.

    You have to include them in any larger number you produce

  4. Tis true. When I popped out to Tesco’s last night I bought three University Top Up fees yet another pack of twelve childcare’s and three kilo’s of cheap chinese electronics and do you know how much they’ve gone up from last week? Lots.
    Cameron will be including Eton fees, volvo estates and Afghan hounds and Swedish Nanny Au pairs in it next. Yeah real man in the street stuff.

    This figure is BillHooks.

    I reckon the average bloke on the Clapham Omnibus’ inflation rate is closer to ten percent not two point oh seven or whatever. Mine is probably even higher.

  5. It’s worth remembering that the classical definition of inflation is “an increase in the money supply”.
    That’s right – it is not because of some strange outside influence that the price of eggs/milk/bread/motor cars/wheat/oil all suddenly increase at the same time. Nor is it because of some sudden inexplicable shortage of the supply of all of these goods. No, inflation in the price of all goods across the board is caused by one specific thing: An increase in the supply of currency. “Money printing”, or “Quantative easing” has caused the huge inflation that we are all experiencing.