Inflation down to -1.5%

[wrighty]

@doc Interesting, if we look at the 5 years average for each year, you can see that "we" are geting better at managing inflation.5 Year Inflation.jpg

 

So, just to clarify, this graph says, for example, that the per annum average inflation over the 5 years to 1991 was 6 and a bit percent

 

Goodhart's law?

 

[Bobbie Bobster]

@W Quite possibly. Comparison to the UK:

 

To me it says we're not really sure how to manage modern economies.

[notwell]

We are in a low inflation low interest rate environment and will be for a very long time.

[NoTail]

The history of western civilisation from about 1400 to about 1850 was one of steady prices or deflation. The concept/expectation of inflation Is really quite modern. Pretty well from the 20th Century.

[finlo]

The price of most things still manages to go up by around 10% per annum though.

[NoTail]

Nonsense

[finlo]

Nonsense

Between 2004 and 2014 beer, car tax, fuel etc doubled = 10% pa electricity trebled its only the slower than it should be fall in fuel prices that's distorting things.

[NoTail]

Still nonsenses

[finlo]

Still nonsenses

Wait till you next go to tax you car then, mines risen by almost £50 this year alone.

 

Edit to add, that's around a 15% rise don't swallow all the Shite this government feed you.

[NoTail]

I really do not want to pick a silly argument. You are absolutely correct that the Government are imposing high extra costs on us. This is of course a factor of inflation. In reality though, costs at the moment are not in general increasing. This may change in years to come. No one knows.

[finlo]

Not wanting to argue either, but front page headlines of "inflation at -1.5%" is somewhat misleading.

[Non-Believer]

In a perfect world (wishful thinking), lower fuel prices should eventually feed reduction into the cost of virtually everything as regards manufacture, transport etc.

 

However, in the real world of prices that rise like a rocket and fall like a feather it will take some time, if ever, for that to happen.

 

In the meantime, this is IoM. Where the local cost of living is primarily being driven upwards by increases in Govt-imposed taxes and charges that impact on virtually everything and everybody and have less to do with the real cost of matters and everything to do with the economic hole that Govt has dug for itself and appears hell-bent on digging even deeper - the Antipodes appear to beckon. Rather than addressing the costs of Govt itself.

[Lxxx]

Deflation figures make civil servants salivate as they can then dream up new stealth taxes as they think the public have more expendable income to give to government so they all keep their jobs.

[Andy Onchan]

On 8/7/2015 at 11:51 AM, x-in-man said:

I've said it before, and I'll say it again.. they make this stuff up.

 

Taxed a car last month, paid more. Filled it up, paid more. insured it, paid more. Had a burger, paid more. Bought some work shirts, paid more. Got the 'leccy bill, paid more.

This.

Here we go again: https://www.manxradio.com/news/isle-of-man-news/cpi-shows-deflation-in-june/

Our weekly food shopping bill has increased by at least 11% since January. So how the feck did they work that out? Does the OFT actually go out to the shops and do a physical check on prices?? I don't think they do.

[The Dog's Dangly Bits]

Isn't it the case that the rise in food prices is just outstripped by other falling components of the data set?