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The Clubhouse Bar
A Political Thread pt. 2
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<blockquote data-quote="ncurd" data-source="post: 1111979" data-attributes="member: 72205"><p>Inflation takes the Consumer Price Index (CPI) from 12 months ago and then now and works out the difference. </p><p></p><p>Say something cost 100 quid last year it now cost £111.40 to cost £100 next year inflation would to -10.2% if its at 3% it actually costs more than it does now so would be £114.74. </p><p></p><p>However month on month it can mean prices are going down compared to the previous month.</p><p></p><p>So if looking at pay rises it helps too look at current inflation figures or possibly taking an average over the 12 on the month on month to calculate median in case prices do go down. Still the median is 8.2% but that betteing on some shift downwards over the next few months but possibly fairer.</p></blockquote><p></p>
[QUOTE="ncurd, post: 1111979, member: 72205"] Inflation takes the Consumer Price Index (CPI) from 12 months ago and then now and works out the difference. Say something cost 100 quid last year it now cost £111.40 to cost £100 next year inflation would to -10.2% if its at 3% it actually costs more than it does now so would be £114.74. However month on month it can mean prices are going down compared to the previous month. So if looking at pay rises it helps too look at current inflation figures or possibly taking an average over the 12 on the month on month to calculate median in case prices do go down. Still the median is 8.2% but that betteing on some shift downwards over the next few months but possibly fairer. [/QUOTE]
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A Political Thread pt. 2
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