UK inflation falls sharply to 8.7% in April

[anchadian]

The UK inflation rate has fallen sharply, reaching single figures for the first time since August.

 

https://www.bbc.com/news/business-65682243

[Celsius]

Bad. UK pound falls below 40thb very soon.

 

 

[Mike Teavee]

23 minutes ago, Celsius said:

Bad. UK pound falls below 40thb very soon.

 

 

Good, news as there will be more confidence in UK economy so pound should stay the same or rise 

[Upnotover]

Good.  I hope the train companies, and others, reduce their pay offers to their employees proportionally.

[bignok]

19.1% food rise.

 

8.7% is manipulated and way too high. 

[CharlieH]

1 hour ago, Celsius said:

Bad. UK pound falls below 40thb very soon.

 

 

Seems to be hoping other way around 43 this morning.

[BritManToo]

13 minutes ago, CharlieH said:

Seems to be hoping other way around 43 this morning.

I predict pound will be at 45bht by the end of the year.

Inflation falling IMF backtracking.

[RayC]

3 hours ago, bignok said:

19.1% food rise.

 

8.7% is manipulated and way too high. 

Care to elaborate?

[bignok]

13 minutes ago, RayC said:

Care to elaborate?

No

[RayC]

4 minutes ago, bignok said:

No

On reflection, there's probably no need for elaboration.  After all, you laid out such a compelling case in your original post.

[placeholder]

16 hours ago, bignok said:

19.1% food rise.

 

8.7% is manipulated and way too high. 

From the landing page of the World News Forum

"Any alleged factual claims must be supported by a valid link to an approved credible source."

There must be a fiction forum out there somewhere that would be better suited to your kind of comment.

[placeholder]

The pound hasn't risen so far, but even if it did, that may just mean speculators are responding to the believe that the BOE will raise interest rates. Exchange rates aren't a great tool for prognostication. Up or down.

[bignok]

52 minutes ago, placeholder said:

From the landing page of the World News Forum

"Any alleged factual claims must be supported by a valid link to an approved credible source."

There must be a fiction forum out there somewhere that would be better suited to your kind of comment.

Opinions are allowed. Up to you if you believe these fantasy figures. Go study economics.

[bignok]

https://www.ubs.com/global/en/wealth-management/insights/chief-investment-office/market-insights/paul-donovan/2022/why-is-inflation-wrong.html

 

 

[bignok]

https://www.theguardian.com/business/2023/mar/13/alcopops-non-chart-cds-uk-inflation-basket-ons

 

 

[placeholder]

2 minutes ago, bignok said:

https://www.ubs.com/global/en/wealth-management/insights/chief-investment-office/market-insights/paul-donovan/2022/why-is-inflation-wrong.html

 

 

Do you understand that the information you linked to says that inflation is actually worse for lower income people with than what it is according to the CPI? And there's nothing there at all to back up your transparently unfounded assertion that "8.7% is manipulated and way too high."

[bignok]

1 minute ago, placeholder said:

Do you understand that the information you linked to says that inflation is actually worse for lower income people with than what it is according to the CPI? And there's nothing there at all to back up your transparently unfounded assertion that "8.7% is manipulated and way too high."

Why are you misquoting me?

 

8.7% is way too high. It should be 3% in a proper managed economy. The real figure imo is over 12% atm.

 

The OP claimed inflation dropped sharply yet states food went up 19.1%!

 

These official inflation figures are a good laugh only.

 

The UK only recently dropped non chart cds from their basket. What a laugh. Most people I know havent bought cds for 10 years.

 

 

 

 

[RayC]

5 hours ago, bignok said:

Why are you misquoting me?

 

8.7% is way too high. It should be 3% in a proper managed economy. The real figure imo is over 12% atm.

 

The OP claimed inflation dropped sharply yet states food went up 19.1%!

 

These official inflation figures are a good laugh only.

 

The UK only recently dropped non chart cds from their basket. What a laugh. Most people I know havent bought cds for 10 years.

 

 

 

 

BoE target inflation rate is 2% so, yes, the current inflation rate is way too high.

 

Unless you collect, collate and analyse every transaction made, you will never get the actual inflation rate, only estimates.

 

The UK figures for inflation are based on a basket of goods. The items in the basket are continually updated. The current list can be found in 2023 Excel sheet on this page

 https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceinflationbasketofgoodsandservices

 

The basket of goods almost certainly isn't a perfect reflection of consumer behaviour, and the resulting overall rate will therefore be flawed, however, the methodology is clear and imo it gives a reasonable estimate.

 

Imo this is a much better, and more credible, approach then just plucking a figure out of thin air.

[bignok]

5 hours ago, RayC said:

BoE target inflation rate is 2% so, yes, the current inflation rate is way too high.

 

Unless you collect, collate and analyse every transaction made, you will never get the actual inflation rate, only estimates.

 

The UK figures for inflation are based on a basket of goods. The items in the basket are continually updated. The current list can be found in 2023 Excel sheet on this page

 https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceinflationbasketofgoodsandservices

 

The basket of goods almost certainly isn't a perfect reflection of consumer behaviour, and the resulting overall rate will therefore be flawed, however, the methodology is clear and imo it gives a reasonable estimate.

 

Imo this is a much better, and more credible, approach then just plucking a figure out of thin air.

Not credible if counting cd sales. I don't know anyone who trusts the cpi data.

[Mac Mickmanus]

12 hours ago, bignok said:

 

The UK only recently dropped non chart cds from their basket. What a laugh. Most people I know havent bought cds for 10 years.

 

How many people do you know ?

[bignok]

1 hour ago, Mac Mickmanus said:

How many people do you know ?

50

[Mac Mickmanus]

3 minutes ago, bignok said:

50

How many of them have stopped buying C.Ds in the last ten years ?

   Also, what is the relevance of that to the U.K;'s inflation figures ?

[bignok]

3 minutes ago, Mac Mickmanus said:

How many of them have stopped buying C.Ds in the last ten years ?

   Also, what is the relevance of that to the U.K;'s inflation figures ?

CDs were in the basket of goods. A product hardly anyone buys anymore meaning downward pressure on prices. An example of how flawed the figures are.

 

 

[Mac Mickmanus]

21 minutes ago, bignok said:

CDs were in the basket of goods. A product hardly anyone buys anymore meaning downward pressure on prices. An example of how flawed the figures are.

 

 

The price of the C.D was what mattered , how much it costs in shops . Any price increase is counted as inflation 

   How man they sold doesn't effect the figures of how much they cost to buy 

[placeholder]

14 hours ago, bignok said:

Why are you misquoting me?

 

8.7% is way too high. It should be 3% in a proper managed economy. The real figure imo is over 12% atm.

 

The OP claimed inflation dropped sharply yet states food went up 19.1%!

 

These official inflation figures are a good laugh only.

 

The UK only recently dropped non chart cds from their basket. What a laugh. Most people I know havent bought cds for 10 years.

Where have I misquoted you? Do you understand what "misquoted means"

Here's what you originally wrote:

"19.1% food rise.

8.7% is manipulated and way too high."

You claimed that the CP of 8.7% is way too high. Now you're claiming that it's way too low. Make up your mind. 

 

[placeholder]

39 minutes ago, bignok said:

CDs were in the basket of goods. A product hardly anyone buys anymore meaning downward pressure on prices. An example of how flawed the figures are.

What you're leaving out is how much CD's counted towards calculating CPI. Without that figure, all you're doing is playing gotcha. Periodically, outdated items are ejected from the basket and new one introduced to reflect how consumers shop.

[bignok]

7 hours ago, placeholder said:

What you're leaving out is how much CD's counted towards calculating CPI. Without that figure, all you're doing is playing gotcha. Periodically, outdated items are ejected from the basket and new one introduced to reflect how consumers shop.

Outdated by many years.

[bignok]

7 hours ago, placeholder said:

Where have I misquoted you? Do you understand what "misquoted means"

Here's what you originally wrote:

"19.1% food rise.

8.7% is manipulated and way too high."

You claimed that the CP of 8.7% is way too high. Now you're claiming that it's way too low. Make up your mind. 

 

8.7% is way too high. Ask any economist if you don't know.

[bignok]

7 hours ago, Mac Mickmanus said:

The price of the C.D was what mattered , how much it costs in shops . Any price increase is counted as inflation 

   How man they sold doesn't effect the figures of how much they cost to buy 

Non regular item now for years. I could pick 100 items in their list apart but couldnt be bothered.

[bignok]

https://www.tandfonline.com/doi/full/10.1080/09692290.2020.1769704