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sasguru
13th December 2016, 11:56
https://www.bloomberg.com/news/articles/2016-12-13/u-k-inflation-accelerates-to-highest-in-more-than-two-years

"Import costs surge by more than 15%, highest in 5 years".

And most retailers are discounting for Christmas. I suspect the rate of increase will be even higher next year.

BrilloPad
13th December 2016, 12:13
And most retailers are discounting for Christmas. I suspect the rate of increase will be even higher next year.

Of course, they have never discounted for Christmas before. This is the first time ever. UberCretinism at its uberist.

Can't you just f**k off and die?

sasguru
13th December 2016, 12:17
Of course, they have never discounted for Christmas before. This is the first time ever. UberCretinism at its uberist.

Can't you just f**k off and die?

I didn't say this was the first time they've discounted for Christmas.
I mentioned that because it would temporarily lower the rate of the rise in inflation and once the discounts cut out in the New Year, the rate would rise again.

So much anger. I wonder why.

TestMangler
13th December 2016, 12:17
Of course, they have never discounted for Christmas before. This is the first time ever. UberCretinism at its uberist.

Can't you just f**k off and die?

Don't think that's quite the point that was being made here :laugh

I think the point was that if shops had already applied the discounts when the figures were taken, then the inflation is actually worse than the headline figure suggest.

:cretin::cretin:

TestMangler
13th December 2016, 12:18
Goddamn it.....I've just agreed with SAS. I must punish myself....

sasguru
13th December 2016, 12:18
Don't think that's quite the point that was being made here :laugh

I think the point was that if shops had already applied the discounts when the figures were taken, then the inflation is actually worse than the headline figure suggest.

:cretin::cretin:

Quite. I thank you. :D

Paddy
13th December 2016, 13:23
Of course, they have never discounted for Christmas before. This is the first time ever. UberCretinism at its uberist.

Can't you just f**k off and die?

I sympathise with your ex-wives. A bundle of fun you were obviously not.

GB9
13th December 2016, 13:36
I thought this was going to be a sensible economics thread along the lines of 'yet again inflation falls well below target', but alas, not to be.

Still, it ramps up the posts from the economically illiterate a bit more.

sasguru
13th December 2016, 13:39
I thought this was going to be a sensible economics thread along the lines of 'yet again inflation falls well below target', but alas, not to be.

Still, it ramps up the posts from the economically illiterate a bit more.

Nurse! Meds time!

GB9
13th December 2016, 13:45
Nurse! Meds time!

Why, have you missed them?

sasguru
13th December 2016, 13:53
Why, have you missed them?

Nurse! Straitjacket time!

GB9
13th December 2016, 14:00
Nurse! Straitjacket time!

Just to make it easy for you. (http://www.bankofengland.co.uk/monetarypolicy/Pages/framework/framework.aspx)

"The Bank's monetary policy objective is to deliver price stability – low inflation – and, subject to that, to support the Government's economic objectives including those for growth and employment. Price stability is defined by the Government's inflation target of 2%."

Now, do you want a hand with the jacket or are you used to putting it on yourself?

TestMangler
13th December 2016, 14:00
Nurse! Straitjacket time!

he can't have the straitjacket I'm afraid. MF's kid is wearing it :laugh

northernladyuk
13th December 2016, 14:11
I must punish myself....

A contractor should employ a professional.

sasguru
13th December 2016, 14:35
Just to make it easy for you. (http://www.bankofengland.co.uk/monetarypolicy/Pages/framework/framework.aspx)

"The Bank's monetary policy objective is to deliver price stability – low inflation – and, subject to that, to support the Government's economic objectives including those for growth and employment. Price stability is defined by the Government's inflation target of 2%."

Now, do you want a hand with the jacket or are you used to putting it on yourself?

Nurse! Lobotomy time!

Oh wait we did that already.
Probably accounts for why the retarded idiot is picking a particular data point as opposed to ignoring a sharp upward trend that will likely peak well above 2% :rolleyes::rolleyes::rolleyes:

GB9
13th December 2016, 14:42
Nurse! Lobotomy time!

Oh wait we did that already.
Probably accounts for why the retarded idiot is picking a particular data point as opposed to ignoring a sharp upward trend that will likely peak well above 2% :rolleyes::rolleyes::rolleyes:

I'm picking a data point? It's the Government / BoE's data point. That's where it should be.

You have proven time and time again you know nothing about economics. And when the facts are laid in front of you, instead of accepting you're clueless you just keep digging.

It's no wonder you couldn't get a job in the UK.

sasguru
13th December 2016, 14:44
I'm picking a data point? It's the Government / BoE's data point. That's where it should be.

You have proven time and time again you know nothing about economics. And when the facts are laid in front of you, instead of accepting you're clueless you just keep digging.

It's no wonder you couldn't get a job in the UK.

:laugh:laugh :rollin::rollin::rollin:

GB9
13th December 2016, 14:46
:laugh:laugh :rollin::rollin::rollin:

Keep digging.

sasguru
13th December 2016, 14:47
wibble

FTFY

GB9
13th December 2016, 14:59
Tulipe. Maybe if I keep posting endless drivel people will forget what I said earlier in the thread. Or maybe they'll realise that I'm still economically clueless, that I've been called out, and that I'm trying to cover for myself.

Oh I wish I still had that job at the EU Commission. They all looked so happy when I served their coffee.

Likewise.

AtW
13th December 2016, 15:16
Most big retailers all hedged their planned Xmas purchases well before Brexit.

We'll know who didn't in January's "final closing down" sales...

Paddy
13th December 2016, 15:35
Most big retailers all hedged their planned Xmas purchases well before Brexit.

We'll know who didn't in January's "final closing down" sales...

Two different local family owned stores that have been in the town since the 1950s have closed down before Christmas. Being small busnesses, they could not sustain the drop in Sterling. The bets are on that the local M&S will go in the New Year.

NigelJK
13th December 2016, 16:16
Crikey, wonder how they managed when we had to devalue the pound.

AtW
13th December 2016, 16:18
Crikey, wonder how they managed when we had to devalue the pound.

Probably because a while ago hedging wasn't as wide spread and more products were actually made in UK rather than in China, so that means that big shops would also have to increase prices quickly and that would keep level playing field, where as now small shops are fooked because big ones use hedging advantage while they still have it (so they get much cheaper goods, plus bulk buying power).

jonnyboy
13th December 2016, 16:39
I am most likely wrong (said it myself so I limit the bashing I get) but I personally can see inflation going pretty high over the next 2-4 years. If I was a betting man, I would expect IT TO HIT 2% spring next year, and then for it to hit 6 or 7% maybe 2019 or 2020 as the bank of England drop the controls and restrictions it has. With public and personal debt being so high, the only possible way to start reducing it in size is to let inflation grow (which then devalues the debt).

I wonder how many big names will go to the wall when this happens.

BlasterBates
13th December 2016, 17:03
Not all businesses will suffer, some are thriving:

https://i.guim.co.uk/img/media/93412b1b80d6a1efc16ab3477837619fea1b2192/0_0_3500_2101/master/3500.jpg?w=780&q=55&auto=format&usm=12&fit=max&

vetran
13th December 2016, 17:12
Not all businesses will suffer, some are thriving:

https://i.guim.co.uk/img/media/93412b1b80d6a1efc16ab3477837619fea1b2192/0_0_3500_2101/master/3500.jpg?w=780&q=55&auto=format&usm=12&fit=max&

your "The Donald" sex doll arriving soon?

AtW
13th December 2016, 17:19
I am most likely wrong (said it myself so I limit the bashing I get) but I personally can see inflation going pretty high over the next 2-4 years. If I was a betting man, I would expect IT TO HIT 2% spring next year, and then for it to hit 6 or 7% maybe 2019 or 2020 as the bank of England drop the controls and restrictions it has. With public and personal debt being so high, the only possible way to start reducing it in size is to let inflation grow (which then devalues the debt). I wonder how many big names will go to the wall when this happens.

There are two inflations.

One is what happens for realz and the other one (much lower) is the official Govts measure based on rapidly dropping costs of PS3.

PurpleGorilla
13th December 2016, 21:32
There are two inflations.

One is what happens for realz and the other one (much lower) is the official Govts measure based on rapidly dropping costs of PS3.

Don't forget the third inflation - house prices - which are now bought with magic beans and quantitative sleazying.

DimPrawn
13th December 2016, 21:44
https://www.bloomberg.com/news/articles/2016-12-13/u-k-inflation-accelerates-to-highest-in-more-than-two-years

"Import costs surge by more than 15%, highest in 5 years".

And most retailers are discounting for Christmas. I suspect the rate of increase will be even higher next year.

Does a man on £2K a day worry about such things?

WTFH
13th December 2016, 22:00
Does a man on £2K a day worry about such things?

I assume this question was aimed at me.

No.

SueEllen
13th December 2016, 22:05
Two different local family owned stores that have been in the town since the 1950s have closed down before Christmas. Being small busnesses, they could not sustain the drop in Sterling. The bets are on that the local M&S will go in the New Year.

Local family owned stores only recently got into treating staff like sh*t and most are still too small to screw suppliers.

Some near me in the last 10 years got brought out by another local store who have managed to build an area wide chain.

henryhooverville
13th December 2016, 22:21
I am most likely wrong (said it myself so I limit the bashing I get) but I personally can see inflation going pretty high over the next 2-4 years. If I was a betting man, I would expect IT TO HIT 2% spring next year, and then for it to hit 6 or 7% maybe 2019 or 2020 as the bank of England drop the controls and restrictions it has. With public and personal debt being so high, the only possible way to start reducing it in size is to let inflation grow (which then devalues the debt).

I wonder how many big names will go to the wall when this happens.

Well given that the UK still import a lot of food, and retailers are clearing stock like crazy, maybe a post-recession 3% which then moves down but 6 is a bit much I'd say.

But then we've been at practially 0% inflation (CPI) for two or three years; unless you are predicting a collapse in sterling even further than it has post-brexit (say a another housing bubble could spur that on or something) 6/7 inflation would only really happen with *ahem* a labour government which prints lots of money or a conservative one that bails out more banks.

So uh, prepare for the wurst but hope for the breast?

SueEllen
13th December 2016, 22:53
Well given that the UK still import a lot of food, and retailers are clearing stock like crazy, maybe a post-recession 3% which then moves down but 6 is a bit much I'd say.

But then we've been at practially 0% inflation (CPI) for two or three years; unless you are predicting a collapse in sterling even further than it has post-brexit (say a another housing bubble could spur that on or something) 6/7 inflation would only really happen with *ahem* a labour government which prints lots of money or a conservative one that bails out more banks.

So uh, prepare for the wurst but hope for the breast?

Guess you've looked at the Tories historical record on borrowing?

If you have been tracking retailers prices you will find most of the prices are the same as the middle of October. They raise them after that so they can lower them and declare an event or sale. It's a well-known illusion.

NigelJK
14th December 2016, 10:49
I still remember inflation hitting 15%.