Great News

[nicebloke1]

Well done labour inflation down to 1.7% the lowest its ever been in years. Get ready for interest rates to fall. All going well dont you think ABs.

[nicebloke1]

I'm amazed there's been no comment on this good news, normally AB is always keen to let everyone know about inflation up or down.

[sandyRoe]

You'll know that there are some here who would rather bite their tongue off than praise the present government.

[nicebloke1]

Oh, I didn't think of that. :•(

[newmodarmy]

What was it they did to achieve this?

[Old_Geezer]

Falling interest rates is bad news for savers. Inflation can be for various reasons, some not necessarily shorter term.

[New Judge]

It has nothing to do with Labour (or for that matter the Conservatives).

The main driver of a lower increase in costs were air fares and motor fuel. Motor fuel has already increased in the early part of October and air fares traditionally reduce at this time of year once the busy summer season is over.

Higher increases in costs came about for food and non-alcoholic drinks (which people tend to pay for more often than air fares). 

There may be some small reductions in interest rates beween now and the end of the financial year. However, once the effects of increased government spending, borrowing to fund that spending, together with indirect tax increases  all kick in it is likely they will rise again.

Government borrowing (with no realistic chance of paying it back) is essentially printing worthless money. If you do that inflation soon rears its head.

[ToraToraTora]

Yes down for now, but once all the massive pay rises filter through......

 

 

[gramps85]

Just heard on the BBC news, that although there has been a drop in inflation, it is expected to "bounce back up above projected targets next month"

Is it just a coincidence that has dropped in the very month which is used to calculate increase in benefits, including increase for pensioners?

[nicebloke1]

Well NJ you may well be correct but take the good news while it lasts. I only paid £1. 28 lt yesterday ( shropshire area) the only downer I had was when i bought 4lts of oil to change on my car, a wopping £35 the latter just seems to be increasing? The only upside i do it myself so no garage labour, and i would guess the garage would charge even more.

[youngmafbog]

You really dont understand economics do you?

And lets wait until the budget hits, already unemployment is up (you seem to have missed that for some reason).

[youngmafbog]

£230 on my Beemer for oil and filters. 

Seems very reasonable to me.

[nicebloke1]

£230 for oil and filter change, your were robbed. Oil filter to buy on mine £9 so with oil= £44

[nicebloke1]

13.12 with respect you seem to have little idea of economics paying £230 out for such a simple job?

[youngmafbog]

The job entails micro filters that are expensive.

It's a BMW, if you cant afford to service it then dont buy.

Besides whats £230, I pay well over £300 a day in tax and that certainly isnt worth it.

[nicebloke1]

So it appears BMs are not very economic then. :•)