Inflation Falls to 3.9%

Fat_Dragon said:
Down from 4.6%

Driven by lower fuel prices mainly

news.sky.com

Bigger than expected fall in inflation

Slowed price rises in food, transport and recreation, along with price drops in raw materials, led to the surprise fall of CPI to 3.9%.
news.sky.com news.sky.com
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Food inflation still at 9.2% though but the government won’t let that get in the way of shouting from the rooftops this load of nonsense 3.9%…..

All these figures are a farce, all people are interested in is fuel, energy and food prices/inflation and all those are way higher than 3.9% !!!!
 
Bigger drop than expected!!!!

Do these so called experts that have our financial future in their hands ever get a prediction right????

And once again please can it caveated on every report with the words but this does not mean things are getting cheaper it just means that things are getting more expensive but at a slower rate!!!
 
Pak_Doo_Ik said:
And once again please can it caveated on every report with the words but this does not mean things are getting cheaper it just means that things are getting more expensive but at a slower rate!!!
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True, but that doesn’t mean prices won’t be cheaper at the supermarkets. The cost of milk and butter I pay at my local supermarket has fallen over the past few months.
 
And you'd think the government would be making it a massive priority to get the economy/inflation under control. But when so many of them stand to profit millions from sky high food, gas/electric/petrol costs......and being multi millionaires themselves, just adding the extra on expenses......not ars*d are they?
 
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Forget the cosy headline and looking at the "facts" the breakfast programmes are pawing at you.​

Connect to the ONS link below and read the truth.

​

Cost of living insights - Office for National Statistics

The latest data and trends about the cost of living. Explore changes in the cost of food and how this is affecting people.  
www.ons.gov.uk
​

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Food prices rise 27% in two years​

Prices of food and non-alcoholic beverages rose by 9.2% in the year to November 2023 according to the latest Consumer Prices Index including owner occupiers’ housing costs (CPIH).

This was the eighth consecutive month of falls in food inflation, down from 10.1% in October and a recent high of 19.2% in March 2023, which was the highest annual rate seen for over 45 years.

The latest food and non-alcoholic beverage inflation rate is the lowest since May 2022.

The easing in the inflation rate was driven by bread and cereals prices, which fell by 0.8% between October and November 2023, compared with a rise of 1.9% a year ago.

Although the rate at which food prices are rising has slowed, they remain high.

The overall price of food and non-alcoholic beverages rose around 27% between November 2021 and November 2023. In the 10 years prior to this, overall food and non-alcoholic beverage prices rose by 9%.

Prices in restaurants and cafes rose by 8.2% in the year to November 2023, down from 8.8% in October.

Despite easing inflation, more than 4 in 10 (41%) adults in Great Britain say they have spent more than usual to get what they normally buy when food shopping within the past two weeks.

This was according to those asked between 29 November and 10 December 2023 as part of our latest Public opinions and social trends bulletin.

The latest survey also reveals that around half (46%) of adults said they were buying less food when shopping in the last two weeks.

Rising food costs was the most commonly reported reason among the 52% of adults who said their cost of living had risen compared with a month ago.

Of those, 91% said one of the reasons for their rising costs was higher food shopping prices.

According to more detailed analysis from the survey covering the period 12 July to 1 October 2023, 1 in 20 adults (5%) said they had run out of food in the past two weeks and had been unable to afford more. This rose to 8% among parents of dependent children, 13% among renters, and 21% among renters with dependent children.
 
Inflation falling driven mainly by falling fuel prices huh? How come bills are going up again in January then?

Food inflation still high too.

Hunt crowing about this fall turns my stomach when the reality is that ordinary people won’t feel any benefit from this supposed good news.
 
sherlock1969 said:
Inflation falling driven mainly by falling fuel prices huh? How come bills are going up again in January then?

Food inflation still high too.

Hunt crowing about this fall turns my stomach when the reality is that ordinary people won’t feel any benefit from this supposed good news.
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Hunt also crowing how the difficult decisions he has made has reduced inflation. That is a total lie. The BoE control interest rates, not him.

Plus, and this really annoys me, we have known for 18 months / 2 years that the reason why inflation was crazy high was energy and fuel prices. And blow me down, when they drop inflation drops. It wasn’t rocket science.
 
sherlock1969 said:
Inflation falling driven mainly by falling fuel prices huh? How come bills are going up again in January then?
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It’s because of the lag in energy supply versus prices that energy prices go up whilst inflation can come down.

Consider this as it’s the biggest single reason and disgrace as to why energy costs are so high.
Numerous generators of electricity from renewable sources in the UK produce electricity for a tiny fraction of electricity generation from Gas.
All electricity generators are allowed to price their electricity at the same price as electricity generated from expensive Gas.
Renewable electricity generators are making billions riding on the back of expensive electricity generated from Gas.

There should be a split system now that Gas is expensive to produce electricity.
One much lower price for electricity generation from renewable sources
And a higher price for electricity generated from expensive Gas.
Combine the two (somehow) and much cheaper electricity for the people of this country!!
 
Ex Footy Legs said:
It’s because of the lag in energy supply versus prices that energy prices go up whilst inflation can come down.

Consider this as it’s the biggest single reason and disgrace as to why energy costs are so high.
Numerous generators of electricity from renewable sources in the UK produce electricity for a tiny fraction of electricity generation from Gas.
All electricity generators are allowed to price their electricity at the same price as electricity generated from expensive Gas.
Renewable electricity generators are making billions riding on the back of expensive electricity generated from Gas.

There should be a split system now that Gas is expensive to produce electricity.
One much lower price for electricity generation from renewable sources
And a higher price for electricity generated from expensive Gas.
Combine the two (somehow) and much cheaper electricity for the people of this country!!
Click to expand...
But less profit
 
El Guapo said:
But less profit
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Yes less profit and electricity generators lobbying (crying) the government that we aren’t making enough profit - utter bollox
They just wouldn’t be benefiting from a global gas price hike that allows them to make extortionate profits
 
Apparently, the price of "second-hand" cars is falling and that is included in the inflation equation.
But, I could never get one of those in the shopping trolley or keep one in the fridge.
Eating a second-hand car could affect my teeth, but now there are no NHS Dentists, then that creates a real health problem.........which could cost the NHS.
 
Ex Footy Legs said:
All these figures are a farce, all people are interested in is fuel, energy and food prices/inflation and all those are way higher than 3.9% !!!!
Click to expand...
Fuel & energy are both in a deflationary phase, the cost of each is less than it was a year ago.

Ex Footy Legs said:
There should be a split system now that Gas is expensive to produce electricity.
One much lower price for electricity generation from renewable sources
And a higher price for electricity generated from expensive Gas.
Combine the two (somehow) and much cheaper electricity for the people of this country!!
Click to expand...
It's been in place for new renewables since 2014 & is called contract for difference. If the strike price is lower than the market price then the generator has to pay back the difference & vice versa.
 
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