Inflation at 5.5%

jambutty · 14-10-2008, 09:15

It’s just been announced on the news that inflation has risen to 5.5%.

But the good part is that last month inflation was at 4.7% meaning that all government pensions, benefits etc should be increased by 4.7% next April.

What’s the betting the Brown and Darling, the prestidigitators of the Labour party, will find some sneaky way not to pay 4.7%.

Benipete · 14-10-2008, 09:38

Still not sure where they get these figures from.Inflation at Benitowers is running at nearer 30%.

WillowTheWhisp · 14-10-2008, 09:45

Inflation figures can be made to say whatever the government wants to say at the time. They include what suits them. I also find it disgusting that when other people are struggling they can award themselves pay increases above and beyond the level of inflation. Some people don't get increases at all.

jaysay · 14-10-2008, 11:11

Quote:

Originally Posted by Benipete

Still not sure where they get these figures from.Inflation at Benitowers is running at nearer 30%.

Got to agree Beni, my lecky has gone up by £30 a month alone, looks like I'm on a diet

jaysay · 14-10-2008, 11:13

Quote:

Originally Posted by jambutty

It’s just been announced on the news that inflation has risen to 5.5%.

But the good part is that last month inflation was at 4.7% meaning that all government pensions, benefits etc should be increased by 4.7% next April.

What’s the betting the Brown and Darling, the prestidigitators of the Labour party, will find some sneaky way not to pay 4.7%.

Are the benefits not set on the November figures JB always thouht they were, but I maybe wrong

jambutty · 14-10-2008, 11:29

Quote:

Originally Posted by WillowTheWhisp

Inflation figures can be made to say whatever the government wants to say at the time. They include what suits them. I also find it disgusting that when other people are struggling they can award themselves pay increases above and beyond the level of inflation. Some people don't get increases at all.

Awarding pay increases on a percentage basis is even more obscene and only serves to widen the gap between those who have and also make the rules and those who have not and have to follow the rules.

Whether you earn £50k or £5k the price of goods rises by the same cash amount for everyone.

jambutty · 14-10-2008, 11:32

Quote:

Originally Posted by jaysay

Are the benefits not set on the November figures JB always thouht they were, but I maybe wrong

I was always under the impression that September’s inflation figures were those used by the government when calculating the next April’s benefit increases.

No doubt someone will come up with a definitive answer?

MargaretR · 14-10-2008, 11:42

You are right Jam Butty - I found this in old news from 2004
"Inflation for September - the month used for upgrading a range of benefits"
here -
Surprise fall in inflation makes rate rise unlikely - Business News, Business - The Independent

jambutty · 14-10-2008, 12:13

The figure being quoted now is 5.2% for September and the newsreader stated quite clearly that it is this September’s figure that will govern the level of increases next April.

It will be interesting to discover how B & D will wriggle out of it, because surely they will somehow and we will get just 2%. Or in view of the financial climate there will be a freeze on increases.

I can’t remember who it was who introduced this scheme but September was chosen because traditionally it was the month were inflation was always at its lowest for the year.

It would be far fairer if the average inflation for the previous year were used. But then fair is not a word that is in the government’s vocabulary.

MargaretR · 14-10-2008, 12:23

Right again Jam Butty

- it shows 5.2% on the official gov site here-
National Statistics Online

They wouldn't dare give us pensioners less than that because Age Concern are lobbying for more

jambutty · 14-10-2008, 12:37

Quote:

Originally Posted by MargaretR

Right again Jam Butty

- it shows 5.2% on the official gov site here-
National Statistics Online

They wouldn't dare give us pensioners less than that because Age Concern are lobbying for more

Oh! Wouldn’t they?

Brown has been throwing money around as if it was confetti and not only is there nothing left in the kitty but National Debt is rapidly approaching £1 trillion. If UK were a Plc the receivers would have been in long ago.

Still we will find out next April.

den the menace · 14-10-2008, 15:14

i am fairly certain that HMG is obliged by THE SOCIAL SECURITY ACT to uprate benefits/pensions/allowances in line with the inflation figures for the year ending in september of the previous year.

jambutty · 14-10-2008, 15:30

Quote:

Originally Posted by den the menace

i am fairly certain that HMG is obliged by THE SOCIAL SECURITY ACT to uprate benefits/pensions/allowances in line with the inflation figures for the year ending in september of the previous year.

I’m sure that you are right in that assumption but the government passed the act and they can change it if they want to. Or find a new way of calculating inflation so that the ‘new’ figure is much lower than the true one.

In fact the alleged ‘true’ figure isn’t as true as it should be.

Benipete · 14-10-2008, 16:04

Quote:

Originally Posted by den the menace

i am fairly certain that HMG is obliged by THE SOCIAL SECURITY ACT to uprate benefits/pensions/allowances in line with the inflation figures for the year ending in september of the previous year.

Not sure what rise in benefits I got this year but I do know that it did not cover the Electric bill rise let alone everything else.I'd rob a bank but I'd be stealing my own money.

jaysay · 14-10-2008, 16:17

Quote:

Originally Posted by Benipete

Not sure what rise in benefits I got this year but I do know that it did not cover the Electric bill rise let alone everything else.I'd rob a bank but I'd be stealing my own money.

Ya Beni and you'd probably get caught too, unlike the seasoned crims who seem to be imune