Another tweak of the inflationary tail?

Discussion in 'Current Affairs, News and Analysis' started by Litotes, Oct 31, 2007.

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  1. I didn't like the look of the Essex cracking tower that appeared in flames on the lunchtime news. We don't have that much spare refining capacity and if we lose this refinery, there will be a rapid increase in fuel prices - of all types.

    Mind you, with the dollar falling steadily, it might be cheaper to buy petrol in the States and ship it over here!

  2. oldbaldy

    oldbaldy LE Moderator Good Egg (charities)
    1. Battlefield Tours

  3. Yet we'll still see the official rate of inflation quoted at round about 3%. Hands up anybody whose cost of living has increased by only 3% over the last year. Anybody?

    Thought not.
  4. the retail prices index is being pulled down because they include ipod and plasma screens in the 'basket' of goods. Those prices are falling fast but it ignores things like mortgages!
    If you include mortgages gas electricity council tax its gone up something like 10%
  5. Hand goes up! Me, me, sir look over here. I don't think my cost of living has gone up by 3% or more over the last year.

    Only because my rent is the same and that is over half my take home pay. Damn! There is always a fly in the ointment.
  6. Same in Oz, prices are rising here fast along with fuel and electricity. The Inflation figures have little relation to what is really happening. The levels of debt people have is astounding as is the greed shown by small investors. Wages are being driven down as the economy appears strong.

    I have a bad feeling that it could all go a bit Pete Tong withing two to 5 years- but what do I know. ;-)
  7. And your take home pay rises in relation to the official rate of inflation. We're already seeing families with both parents working on minimum wage who rely on benefits to survive. How long can the staples of life keep rising above wages before only the best paying jobs are enough to pay your way?