ChatterBank9 mins ago
Reccesion.
The Uk is now officially in Recession says The Bank of England as it raises interest rates to 2.25%.... Is this another Legacy from Boris.
Answers
Best Answer
No best answer has yet been selected by gulliver1. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
//In the past week, the price of milk has risen by 50%.//
Strangely I’ve recently completed participation in an ONS survey of spending. On 2nd September I bought four pints of blue top milk from Sainsbury’s for £1.45. Yesterday I bought the same product from the same store for er…£1.45.
That may go some way to explaining why you don’t understand how inflation is only 9.9%. Anecdotal evidence (such as yours and mine) is not used to calculate the official inflation figures as compiled by the ONS.
Strangely I’ve recently completed participation in an ONS survey of spending. On 2nd September I bought four pints of blue top milk from Sainsbury’s for £1.45. Yesterday I bought the same product from the same store for er…£1.45.
That may go some way to explaining why you don’t understand how inflation is only 9.9%. Anecdotal evidence (such as yours and mine) is not used to calculate the official inflation figures as compiled by the ONS.
10CS, "prices in general have risen by much more than 9.9%. That's factual too."
From the Office for National Statistics in January,
"As we wrote last November, the ONS produces its headline inflation rate every month. It is produced by collecting the prices of over 700 everyday goods and services bought by UK households in numerous locations up and down the country, as well as online, to give us over 180,000 price points. We combine those with detailed information on spending patterns to calculate accurate price changes for goods and services in the UK."
Looking only at the items you buy on a regular basis is completely different from the 700 items used by the ONS.
That isn't to say the "basket" of items you buy hasn't gone up by much more than 9.9% but that isn't true across the country.
From the Office for National Statistics in January,
"As we wrote last November, the ONS produces its headline inflation rate every month. It is produced by collecting the prices of over 700 everyday goods and services bought by UK households in numerous locations up and down the country, as well as online, to give us over 180,000 price points. We combine those with detailed information on spending patterns to calculate accurate price changes for goods and services in the UK."
Looking only at the items you buy on a regular basis is completely different from the 700 items used by the ONS.
That isn't to say the "basket" of items you buy hasn't gone up by much more than 9.9% but that isn't true across the country.
royfromaus
//This thread opens with
'The Uk is now officially in Recession says The Bank of England'
Where's the link for this irresponsible (made up) nonsense
I know gulliver read it in the Guardian but the Guardian tells more lies than Gromit...they made it up.//
Oh the irony…..
https:/
Where was your link in that OP?
Just a reminder:
https:/
https:/
//This thread opens with
'The Uk is now officially in Recession says The Bank of England'
Where's the link for this irresponsible (made up) nonsense
I know gulliver read it in the Guardian but the Guardian tells more lies than Gromit...they made it up.//
Oh the irony…..
https:/
Where was your link in that OP?
Just a reminder:
https:/
https:/
