How the heck have our inflation rates got so high? - over 10% now

more inflation to come. Its going to hurt for pensioners and those living off savings.
There will soon be the crackpot ideas of anti-inflation investments. like Stamps
 
HundredRoom said:
more inflation to come. Its going to hurt for pensioners and those living off savings.
There will soon be the crackpot ideas of anti-inflation investments. like Stamps
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I thought inflation led to higher interest rates so savers were less affected by high inflation, but I caveat that by saying I know nothing about economics
 
Johnny Vincents Motorbike said:
everywhere has been closed and weve all been stuck indoors for the best part of 18 month

United Kingdom Inflation Rate

Inflation Rate in the United Kingdom remained unchanged at 4 percent in January. This page provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
tradingeconomics.com tradingeconomics.com
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poor fiscal management by an inept government?
 
ThirdLeg said:
Bank of England pumping a few billion in here and there probably contributed.

2 percent isn't high though. Its the target.

I'm more concerned about the 10 percent that's gone on house prices over the same period. Lord knows what they expect the kids to do these days.
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...rent from the 2% of people with multiple properties
 
Cost of basic goods are increasing and will continue to increase for a while yet.

High inflation coupled with the inevitable tax rises will be a perfect storm of shittyness.
 
Nobby_Barnes said:
Supply and demand simple as that...
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I've noticed since lockdown finished that my local boozers are more quiet than they were before Johnson & Co introduced us to Covid

So if it's about supply and demand the price of a pint should have fallen to create more demand.

Strangely enough that isn't the case. The opposite has happened.
 
It is scary for young people who want to buy a property in most areas of the UK. Relatives are expected to put down a £25k deposit for them. Most first time buyers are now funded this way. If you haven't got someone willing to do it for you, you are stuffed.

Property inflation is about 8% wages are rising by 3% - I don't believe the official inflation rate of 2.1%

Petrol now 1.30 from 1.15/litre - 13%
Council Tax up 4.99% for me
House prices up nearly 8%
Beer prices up
Dental charges shot up
Many commodities are up 50% on a year ago

That 2.1% must be a lagging indicator - my guess is it will rise to over 5%
 
Chris_Boro said:
Cost of basic goods are increasing and will continue to increase for a while yet.

High inflation coupled with the inevitable tax rises will be a perfect storm of shittyness.
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Not to mention a rise in prices of anything imported from the EU, which is a lot
 
Redwurzel said:
It is scary for young people who want to buy a property in most areas of the UK. Relatives are expected to put down a £25k deposit for them. Most first time buyers are now funded this way. If you haven't got someone willing to do it for you, you are stuffed.

Property inflation is about 8% wages are rising by 3% - I don't believe the official inflation rate of 2.1%

Petrol now 1.30 from 1.15/litre - 13%
Council Tax up 4.99% for me
House prices up nearly 8%
Beer prices up
Dental charges shot up
Many commodities are up 50% on a year ago

That 2.1% must be a lagging indicator - my guess is it will rise to over 5%
Click to expand...
It seems the government inflation rate is based on the price of carrots. ! The numbers have always been a con trick. Most peoples biggest cost is housing in one for or other, and if anyone thinks that has been going up at the government inflation rate is blind
 
everything’s gone up in lockdown. Wood, plaster, glass, electronics and even dogs. brexit also driven prices up and things are in high demand so prices have soared however it’s not “based on a bag of carrots” as Clive Road Stamper is trolling above. It’s based on, and has been for ages, a specific list of things as part of the process and that includes household bills, housing, education, shopping items, furniture etc so is very broad



 
HundredRoom said:
more inflation to come. Its going to hurt for pensioners
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Since the coalition government in 2010 the state pension has been linked to inflation. In fact it has a guarantee that each year, it will increase by the greatest of the:
- Average earnings
- Prices, as measured by the Consumer Prices Index (CPI)
- 2.5 per cent
The so called 'triple lock'.

Considering everything else they've taken out of the economy since the Second World War & foisted the cost & fall out of onto future generations, I think pensioners are sitting pretty for the duration of the rest of their lives.
 
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