mallen100 Posted March 20, 2013 Share Posted March 20, 2013 if the economy is gradually improving as they say , all be it slowly . why does the government keep making it harder for us to survive . Why not let it carry on healing slowly . Link to comment Share on other sites More sharing options...
monkey69 Posted March 20, 2013 Share Posted March 20, 2013 simple they are lying, the economy is getting worse. the true inflation figure is something like ten or twelve percent. dont forget they take certain things out of the list they use to define the inflation rate, EG fuel, mortgage payments. ect,ect and what with them giving money away to the banks left right and centre, the true economy is being chocked to death. Link to comment Share on other sites More sharing options...
Mecky Posted March 20, 2013 Share Posted March 20, 2013 because it's a lie and it's all about media hype and trying to influence public opinion. Link to comment Share on other sites More sharing options...
Obelix Posted March 20, 2013 Share Posted March 20, 2013 simple they are lying, the economy is getting worse. the true inflation figure is something like ten or twelve percent. dont forget they take certain things out of the list they use to define the inflation rate, EG fuel, mortgage payments. ect,ect and what with them giving money away to the banks left right and centre, the true economy is being chocked to death. Electricity, heating and transport fuels are all part of the monitored basket and have been for a very long time - havea look here... http://www.guardian.co.uk/news/datablog/2012/mar/13/inflation-basket-goods-2012-full-list Link to comment Share on other sites More sharing options...
Mecky Posted March 20, 2013 Share Posted March 20, 2013 Electricity, heating and transport fuels are all part of the monitored basket and have been for a very long time - havea look here... http://www.guardian.co.uk/news/datablog/2012/mar/13/inflation-basket-goods-2012-full-list That's all quangoistic opinion coming from the ONS. The truth is that we can't produce enough of what we consume and therefore rely upon foreign imports from countries which have their own interests at heart and not ours. These countries laregly control the cost of living in the UK, keeping us uncompeteive in the longrun. Link to comment Share on other sites More sharing options...
Obelix Posted March 20, 2013 Share Posted March 20, 2013 That's all quangoistic opinion coming from the ONS. The truth is that we can't produce enough of what we consume and therefore rely upon foreign imports from countries which have their own interests at heart and not ours. These countries laregly control the cost of living in the UK, keeping us uncompeteive in the longrun. Sorry, but you are plain and simply wrong on all counts there. I never said anything about the content of the article - I referred someone to a list showing them the contents of the basket refuting their claim that fuel wasn't in there. Link to comment Share on other sites More sharing options...
Vague_Boy Posted March 20, 2013 Share Posted March 20, 2013 Electricity, heating and transport fuels are all part of the monitored basket and have been for a very long time - havea look here... http://www.guardian.co.uk/news/datablog/2012/mar/13/inflation-basket-goods-2012-full-list But how are they being "weighted"? Price movements of the goods and services represented in the CPI are weighted according to the relative importance of goods and services in the total expenditures of consumers. Each good or service is considered to be an element in a fictitious basket, and price movements are assigned a basket share or weight commensurate with the proportion of total consumption expenditure they account for. LINK There's all sorts of scope to "adjustments", such as hedonics: The definition for hedonic is “relating to pleasure”. That sounds good, but when it comes to the CPI hedonics creates big distortions. The most common example is with technology. Consider an Apple computer. In 2006 it cost $2,499 to buy a 15-inch Mac Book Pro with a 2.0 GHz processor. Five years later you can buy a 15-inch Mac Book Pro with a 2.53GHz processor for only $1,999. Adjusted for inflation and considering the increased capacity of the newer Apple the actual cost of “pleasure” has fallen by more than 30%. When you add in one component of the index that is “falling” in value at a rapid pace and add it to another item that is actually rising you get an index that says that prices aren’t going up. LINK Both weighting and hedonics are used in UK CPI figures. According to the latest UK CPI figures, the cost of food increased by 0.14% [LINK] Clearly I must be shopping at the wrong place! Link to comment Share on other sites More sharing options...
Mecky Posted March 20, 2013 Share Posted March 20, 2013 Sorry, but you are plain and simply wrong on all counts there. I never said anything about the content of the article - I referred someone to a list showing them the contents of the basket refuting their claim that fuel wasn't in there. awww I am in AWE or you Link to comment Share on other sites More sharing options...
Obelix Posted March 20, 2013 Share Posted March 20, 2013 awww I am in AWE or you I suspect there are a lot of things you are in awe of chuck. ---------- Post added 20-03-2013 at 12:45 ---------- But how are they being "weighted"? LINK There's all sorts of scope to "adjustments", such as hedonics: LINK Both weighting and hedonics are used in UK CPI figures. According to the latest UK CPI figures, the cost of food increased by 0.14% [LINK] Clearly I must be shopping at the wrong place! Possibly so - my food bills have gone down over the last year - I appreciate others will ahve gone up of course. I don't claim to understand the basket and how it's put together I was just showing that the ludicrous claim that fuel wasn't considered in the figures was patently wrong. Link to comment Share on other sites More sharing options...
Dromedary Posted March 20, 2013 Share Posted March 20, 2013 if the economy is gradually improving as they say , all be it slowly . why does the government keep making it harder for us to survive . Why not let it carry on healing slowly . Because its not improving as they suggest as all they do is massage the figures to make it look better. Unless a serious amount of jobs are created then unemployment will continue to rise and the economy will suffer. Link to comment Share on other sites More sharing options...
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