What is the rate of inflation ?

[Wij]

'cos it sure doesn't feel like my pay rise bears any resemblance to it

Doesn't Fat Gordon still reckon it's below 3% ?

 

[old.user4556]

The increase in food, energy, fuel and housing are all way above the inflation rate.

Gordon is one useless Jock.

Edit: and Wij, did they feed you the "we're paying the market rate" line?

 

[gohan]

my raise was quite good 9.4%

BUT its pointless as im getting promoted in a few months and my wage will go back to the minimun for that level (still a raise but makes the 9% pointless)

 

[Jupitus]

I got nil. Zip. Nada.

Not a happy bunny

 

[Vae]

The government mainly talks about the CPI which it sets a target (2%) for the Bank of England to keep inflation to. If the inflation rate varies by more than 1% from the target the governor of the BoE has to write an explanatory letter to the Chancellor. There is also the RPI rate which is based on a wider range of factors including mortgage interest.

There has been criticism of CPI as being a far less effective measure of price rises than the Retail Prices Index as it is easier to manipulate and less broad based (for example excluding housing).

Funnily enough the government switched from using RPI (which is generally a good 1% higher than the CPI) to using CPI in Dec 03 making the inflation targets easier esp as it excludes the mortgage interest.

National Statistics Online

 

[Malecheon]

Raise ? What's a raise ?

My company has 'opted' out of raises in favour of annual performance bonuses which is a pain in the ass.

 

[pez]

Housing and I *think* energy does not account towards the government rate of inflation. Food however does.

 

[Trem]

Housing and I *think* energy does not account towards the government rate of inflation. Food however does.

But surely food is dearer because of fuel prices?

Oh my god I hate this fucking government, who in their right mind would still support the useless wanks?

 

[throdgrain]

My company also does annual performance bonuses butthats ok because I am teh mighty which means I got the top pay rise

 

[Sar]

My guess would be inflation is currently about 10%.

Fuel prices have shot up by about 15-20% alone over the past 12 months, and basic foodstuffs (butter, milk, bread etc) have risen by about 10%.

And yet us poor govt oiks will probably only get 2.47% again this year, same as last. Which is fucking ridiculous, as that's a 7.53% pay cut in real terms.

 

[DaGaffer]

Oh my god I hate this fucking government, who in their right mind would still support the useless wanks?

I loathe them too but tbh in this case there's not that much they can do; fuel and food inflation are largely beyond their control (blame Chinese and Indian demand and bad harvests). Of course they exclude vital stuff (like house prices) to massage the inflation figures, but they learned that trick from the Tories (ditto unemployment figures).

Problem is that Chinese and Indian demand is only going to increase. Trouble's a' comin' I tells ya.

 

[Wij]

Edit: and Wij, did they feed you the "we're paying the market rate" line?

They wouldn't dare in my case, I'm not even close. Instead they fed me the "you're paid higher than the median in your peer group" line. Nice to know that over half my peers are paid less than 4% over the bare minimum for the role. Woot to abolishng the ceiling pay rates, since with below inflation raises every year for the last decade I'll be enjoying the benefits that brings real soon.

My car blew up last week too

 

[Mazling]

Honestly, have a look at Money as Debt ... quite an eye-opener.

 

[taB]

If you go with what the teachers union has been saying; anything less than the RPI (Retail Price Index) essentially means you are losing money.

The RPI has been hovering around 4% for a bit now. The CPI which the government uses is about 2.5% iirc.

Anything < 4% is going to get me very pissed off

 

[Furr]

Nearly cried today as I saw the current petrol prices.... its getting too much I say! I see £1.50 before the end of the year.

 

[Calaen]

I got 25% raise this month. Really chuffed.

 

[Mabs]

I got 25% raise this month. Really chuffed.

what they paying you ? 3s 6d ?

 

[Wij]

If you go with what the teachers union has been saying; anything less than the RPI (Retail Price Index) essentially means you are losing money.

The RPI has been hovering around 4% for a bit now. The CPI which the government uses is about 2.5% iirc.

Anything < 4% is going to get me very pissed off

Then I'm losing money. Again.

Feels like 10% or so inflation to me anyway. So I'm even worse

 

[Cadiva]

I got nil. Zip. Nada.

Not a happy bunny

I've been a journalist for almost 20 years (come September 19th) and pretty much nearly every year I've been one we've not had a pay rise or, if we did get one, it was 1%.
I think my best year I got an extra £5 a month.

 

[ECA]

Lol goverments.

Put your money in gold peoples.
Krugerrands or sovereigns are probably your best bet.