It's not as applicative in this case, at least for the UK.
As a software developer based in the UK, the inflation mentioned in the article is felt very deeply by myself. The article cited 7.2% as the price inflation rate, which is close to the rate of 7.6% calculated by the Office for National Statistics based on my household spending[1] and is consistent with my personal experience.
On top of that, the UK Treasury adjusted the personal tax threshold policy back in April this year, basically freezing the tax bands to no longer rise with the inflation, which caused a direct 3.3% hit on my income. This freeze is estimated to be the largest over 50 years according to BBC[2], but since we are discussing media sensationalism, so maybe that's not something that would convince you.
Anyway, maybe the situation is different elsewhere, but I do find this article more truthful than not from where I stand.
> The article cited 7.2% as the price inflation rate, which is close to the rate of 7.6% calculated by the Office for National Statistics based on my household spending[1] and is consistent with my personal experience.
Do you know if those figures factor in non-consumables like housing and insurance?
Asking because many US areas are seeing 20-100% jumps (or higher), year over year over year. When your largest expenses skyrocket, single digit increase stats don't reflect reality well.
Not sure about the post's article one, but yes on the ONS calculator. Basically one enters their expenditure by categories and it will calculate the overall inflation rate. Though personally I wasn't impacted by these two categories.
You can directly view by kind on ONS as well[1]. It states CPIH over 12 months rate in July 2023 is 5.4 for housing and 9.0 for health.
Florida. We moved in 2021 to same size house (but 25mi further out) and our rent is 1.95x our last rent. Rents generally doubled in our last neighborhood, one expired lease at a time. Typically, long existing tenants were not given opportunity to renew and new tenants got the new doubled rate.
Some of those old tenants joined the ranks of homeless people with savings, because there was nowhere to go. My sister may be one (diff state). We'll know more tomorrow.
As a software developer based in the UK, the inflation mentioned in the article is felt very deeply by myself. The article cited 7.2% as the price inflation rate, which is close to the rate of 7.6% calculated by the Office for National Statistics based on my household spending[1] and is consistent with my personal experience.
On top of that, the UK Treasury adjusted the personal tax threshold policy back in April this year, basically freezing the tax bands to no longer rise with the inflation, which caused a direct 3.3% hit on my income. This freeze is estimated to be the largest over 50 years according to BBC[2], but since we are discussing media sensationalism, so maybe that's not something that would convince you.
Anyway, maybe the situation is different elsewhere, but I do find this article more truthful than not from where I stand.
[1]: https://www.ons.gov.uk/economy/inflationandpriceindices/arti... [2]: https://www.bbc.co.uk/news/business-67031930