Inflation falling, prices rising??

[teeonethousand]

Am I right in thinking the number has fallen in the month taken to calculate triple lock pensions?
Don’t be surprised if it rises again next month

I believe the triple lock element for 2024 rise that is wage growth is officially 8.5% so the inflation figure for September is probably irrelevant as it will be trumped by the wages part this time. ( I think other benefits and public sector pensions rise next year by the September figure though so gov will be keen to see it as low as possible)

 

[presta]

Replace the milk with all items and multiply the amounts by 1,000 and the logic is the same.

No it isn't. You've cherry picked milk as an example of an item that's gone down in the last month, and ignored the majority that still go up. The total cost of the basket of 559 is the weighted average of all the items in it, and the effect of the minority that go down like milk is offset by the remainder that go up. There could in theory be enough items going down in one month to affect the overall figure, but the likelihood of it ever happening is virtually nil.

There's no point in nit-picking about inflation figures anyway, everyone's personal experience of it is different because everyone has their own different basket of goods & services they buy.

 

[markemark]

No it isn't. You've cherry picked milk as an example of an item that's gone down in the last month, and ignored the majority that still go up. The total cost of the basket of 559 is the weighted average of all the items in it, and the effect of the minority that go down like milk is offset by the remainder that go up. There could in theory be enough items going down in one month to affect the overall figure, but the likelihood of it ever happening is virtually nil.

There's no point in nit-picking about inflation figures anyway, everyone's personal experience of it is different because everyone has their own different basket of goods & services they buy.

No. I randomly picked an item and made up prices to show that prices can drop but still have a positive inflation.

The blanket statement that prices are rising (from last month) is not necessarily true. They may be dropping. Unless the rate of change in inflation this year is matched against last year, it is not a given. Everything might be dropping, but inflation against last year can still be 6.9%. Cheaper than last month but more expensive than last year overall.

 

[GuyBoden]

The price of apples is riddiculous, anyone would think that they grow on trees.

 

[Alex321]

I remember someone pointing out that although the increase in inflation may stop, that still means things cost more. For example if inflation is at 6% in Jan, than 8% in Feb, 10% in March, but in April is only 11%, then the rate of inflation has dropped but things are still going to be getting more expensive fairly quickly, so you won't notice any real improvement.

No, if inflation is 10% in March, and 11% in April, then the rate of inflation has gone up. Just not by as much as it did between Feb and March, or beteween Jan and Feb.

 

[Deleted member 1258]

Mr Sheen is no longer 99p, it's more like £1.99 - I will be bankrupt !

Thats why I stopped buying it and started buying something cheaper.