Wednesday, August 13, 2008

UK Inflation: On what planet does the Office for National Statistics Reside?

Inflation (as measured by the OfNS in the Consumer Price Index, has apparently gone up to a record 4.4%, we've been told. Utter poppycock. They concede that:
- Food has risen by 13.7%
- Electricity and gas have risen by 12%
- Vehicle fuel has risen by 26%
- Furniture has risen by 11.4%
- Mortgages are more expensive and less available.

This is pretty much all we buy! So how are we expected to believe that inflation is only 4.4%? Clothing, we're told, has remained steady... well, big deal. The people with least money do not buy clothes so often... and even less when they're hit with all the huge price rises of other essentials. The only way the OfNS could possibly get this result is to weight their notion of spending towards the well-healed, who spend most of their money on non-essential items.

The very least we can expect is a bit of honesty! Pay and pension rises of the poorest people in society are being made off the back of this nonsense 4.4% headline figure. We don't need the OfNS to tell us what the inflation rate is... we know it because we go to the supermarkets, go to the petrol stations, pay our mortgages, heat our houses. We know that inflation over the past year has been somewhere between 10 and 20% because we're not yet quite the imbeciles we're apparently supposed to be!

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