Inflation

[Currywurst and Chips]

Tories restoring the triple lock so pensioners get a 10% bump just before a tricky byelection in the West Country

[Max B Gold]

It's more that I'd be fuming if rich pensioners get richer and continue to vote Tory - all while people of working age are told to know their place or risk jepodising the economy. I'm not a fan of means testing - I'm pro universal healthcare and a universal basic income - and can concede how effective Tory divide and rule tactics are - it got to me and does get to people when they are emotional

Ok, it looks like we are making some sort of progress but you've undone a lot of the good work by introducing a pointlessly divisive olds v young argument. Most of the wealthy will always vote Tory. Get over it and organise the fightback against them. The future of our land is with the workers and the youth.

You need to deal with the emotion by watching more of Mickey Lynch and notice how he manages to supress a deep rage whilst handing out arses on plates to the Tories and the Tory media.

[Max Fowler]

Edward Hearn gifs are vile.

[Gary's Big Brother]

Edward Hearn gifs are vile.

You ain't keen on him are you?

I say that because sometimes you rant a bit about that family at the annual family barbecue.

You know the ones where you bring four tinnies of Kestrel Lager and Lidls sausages and then gobblegannet down the Sainsburys German Lager and moan about the stakes being overdone and rant about how bad Hearn was for The O's. That's round about the time when mum bundles you into a taxi and sends you home and your missus and the nippers stay on and have a great night.

[Currywurst and Chips]

Edward Hearn gifs are vile.

[Dunners]

Everyone ready?

[Long slender neck]

For a 0.5% interest rate rise? Will it really do anything?

[Dunners]

For a 0.5% interest rate rise? Will it really do anything?

Some commodity prices have come down, but projections are still dire.

[The Mindsweep]

All this inflation rate nostalgia. Haven't seen as much interest since I was a Short Sterling Derivatives broker in the 80's & 90's.

[Dunners]

CON +2?

[Max Fowler]

Everyone ready?

For another Edward Hearn gif? Not really.

[Currywurst and Chips]

Everyone ready?

For another Edward Hearn gif? Not really.

[tuffers#1]

CON +2?

Why is Ethan Hunt doing polls ?

[Max Fowler]

How many are there Pammy?

[Dunners]

We're gonna need a bigger Hearn GIF.

[Max Fowler]

Confirmed.

The interest rate stuff, not edward hearn gif stuff.

[Long slender neck]

You'd have to be a dummy if you didn't fix your mortgage at the historically low rates

[Currywurst and Chips]

Five years last Spring

[Rich Tea Wellin]

Are there any good inflation for dummies articles? I don’t fully understand it tbh. It feels ultra made up and intangible I understand it at a high level but it feels weird that the government talk about controlling it through various random actions that don’t seem connected with things like companies just passing on their costs to consumers without a care in the world

[Constanza]

Still got my tracker mortgage thank goodness. 0.25 over base rate.

In other news balloons are up 500% allowing for inflation.

[Max Fowler]

Are there any good inflation for dummies articles? I don’t fully understand it tbh. It feels ultra made up and intangible I understand it at a high level but it feels weird that the government talk about controlling it through various random actions that don’t seem connected with things like companies just passing on their costs to consumers without a care in the world

Something that costs £1 today is going to cost £1.10 in a years time (if we’re lucky).

If interest rates are 2% today, then the £1 you have in your bank account will be £1.02 in a years time and you won’t be able to buy the thing that costs £1 today.

You may as well spend the £1 today and buy the thing for £1. As more people are looking to spend their £1s, trying to buy the £1 thing, so the price of the thing goes up due to the increased demand.

If the interest rate goes up, say to 5% and you will have £1.05 in your bank account next year, some people will be happy with that and not buy the thing for £1 today. Less people trying to buy the thing will bring the price down.

This is why I only got a C in A Level Economics.

[Rich Tea Wellin]

That makes sense, thanks.

Luckily the banks will all absolutely pass on that extra interest to the consumer and not just use it to gain more profit

[Long slender neck]

Does the price have to go up when demand increases?

[Currywurst and Chips]

That makes sense, thanks.

Luckily the banks will all absolutely pass on that extra interest to the consumer and not just use it to gain more profit

Savings accounts have to offer at least the base rate otherwise what's the point?

My savings account has emailed me after every rise within a couple of hours telling me my interest rate has risen in line with the BoE rise.

I imagine most providers are similar

[Max Fowler]

Does the price have to go up when demand increases?

It’s when demand is greater than supply, rather than just an increase in demand. More money chasing fewer products.