New Posts For Thread: Gideon George Osbourne and inflation at 0.5% is...https://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-isAll down to government policy. Nothing to do with the fact that the price of petrol has been falling like a stone through water.I agree inflation should be based on EII.https://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543076559#543076559I agree inflation should be based on EII.Tue, 13 Jan 2015 11:33:18 -0600In fact, there should be an EII (essentials inflation index). The CPI takes in too many 'big ticket' items. EII would just be the sundries of day to day life. Don't hold your breath for any political party to introduce that though.https://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543076493#543076493In fact, there should be an EII (essentials inflation index). The CPI takes in too many 'big ticket' items. EII would just be the sundries of day to day life. Don't hold your breath for any political party to introduce that though.Tue, 13 Jan 2015 11:30:15 -0600LFC, you are talking about indexed inflation (whichever measure), in which you specify a given point as 100 and measure everything from that point.Standard practice for almost all economists is to define a base date, and one year later as the measurehttps://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543076409#543076409LFC, you are talking about indexed inflation (whichever measure), in which you specify a given point as 100 and measure everything from that point.Standard practice for almost all economists is to define a base date, and one year later as the measureTue, 13 Jan 2015 11:26:06 -0600not really, my point was really that inflation is the increase in the price of goods and services at any given time. If after 12 months inflation is 12% it will still be 12% after 13 months if nothing else changes.https://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543076335#543076335not really, my point was really that inflation is the increase in the price of goods and services at any given time. If after 12 months inflation is 12% it will still be 12% after 13 months if nothing else changes.Tue, 13 Jan 2015 11:22:21 -0600lfc1971If we say inflation for one year is 12% and peoples wages for that year have increased by 0%..ok inflation is 12%Then year 2 inflation does not increase and neither do wages..then inflation is not 0%....it is still 12% for that year, that is whttps://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543076187#543076187lfc1971If we say inflation for one year is 12% and peoples wages for that year have increased by 0%..ok inflation is 12%Then year 2 inflation does not increase and neither do wages..then inflation is not 0%....it is still 12% for that year, that is wTue, 13 Jan 2015 11:15:32 -0600That is misleading. You are getting your terms mixed up.Your point is that for the last few years there has been a decline in many people's standard of living defined by CPI/RPS (or any measure you care to use) vs wage increases.And for decades befohttps://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543076093#543076093That is misleading. You are getting your terms mixed up.Your point is that for the last few years there has been a decline in many people's standard of living defined by CPI/RPS (or any measure you care to use) vs wage increases.And for decades befoTue, 13 Jan 2015 11:09:29 -0600here is the point, it is still 12% for that year, that is what you will have to pay.https://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543075915#543075915here is the point, it is still 12% for that year, that is what you will have to pay.Tue, 13 Jan 2015 10:56:45 -0600^^^^tut tut, dishonest quote!https://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543075875#543075875^^^^tut tut, dishonest quote!Tue, 13 Jan 2015 10:54:05 -0600dylan has it covered so as a negative number may not be great you can bet your bottom dollar gideon will be giving the train companys the heads up for another inflation busting rise next jan,because they wont want a large figure dropping off been rephttps://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543075847#543075847dylan has it covered so as a negative number may not be great you can bet your bottom dollar gideon will be giving the train companys the heads up for another inflation busting rise next jan,because they wont want a large figure dropping off been repTue, 13 Jan 2015 10:52:21 -0600Then year 2 inflation does not increase and neither do wages..then inflation is not 0%....it is still 12% for that yearhttps://community.betfair.com/chit_chat/go/thread/view/94038/30417575/gideon-george-osbourne-and-inflation-at-05-is?post_id=543075639#543075639Then year 2 inflation does not increase and neither do wages..then inflation is not 0%....it is still 12% for that yearTue, 13 Jan 2015 10:41:35 -0600