UK Politics
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!ukpolitics@lemm.ee appears to have vanished! We can still see cached content from this link, but goodbye I guess! :'(
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In a somewhat overly optimistic and tongue-in-cheek fashion (given the way that inflation is based on comparing particular prices as they are now with what they were a year ago and how it has consistently hovered around the 10% mark) I had sort of hoped that inflation would drop below 2% more or less on its own. This was based on the idea that a one-off event had sharply raised prices but that it would now be baked in and accommodated.
How hopelessly naive (and misinformed) was I eh?
I'm confused why we stare at the inflation rate so much. Haven't we proven at this point that we're suffering from good old fashioned price gouging. How does inflation decreasing EXACTLY ease cost of living. Does my landlord get a notice and go "Gah! They got me! Guess rent has to go down now"?
Inflation is a backward-looking measure. It doesn’t ease the cost of living, it simply lets policymakers know what’s going on with prices — and whether the Bank of England is doing its job.
On a personal level, you already know what your living costs are, so the level of the CPI has no relevance to your life. Nobody experiences CPI directly, as we all have different costs and preferences.