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3% Inflation? Bah Humbug!

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  • 3% Inflation? Bah Humbug!

    Just bought a cookie time cookie for morning tea.
    Last time it cost $1.95 (A couple months ago).
    Today it was $2.50!

    Ouch!
    Whatever happened to 3%???

    Guess I'm going to get a lot slimmer & healthier!
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  • #2
    Sadly its the healthier raw foods which seem to be copping it the most. All the refined unhealthy crap is cheaper.

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    • #3
      3% is previous period of course. The current period may well be higher.

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      • #4
        Originally posted by mlkmnz View Post
        Sadly its the healthier raw foods which seem to be copping it the most. All the refined unhealthy crap is cheaper.
        That's why Cullen should take GST off food in the budget and then maybe introduce a suger tax.

        Rob

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        • #5
          Just had lunch with John Key (me and 60 others) and they wer talking about the REAL rate of inflation is about 6-7%, some people thinking 10%.

          Its been a bit hidden by statistics and under quoted at 3.4%.

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          • #6
            Does anyone have the "shopping list" that they use to calculate inflation? I can't fathom how it could be anywhere near 3% with huge increases in the price of fuel, housing and basic foods.
            You can find me at: Energise Web Design

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            • #7
              Doesn't property normally rise at the rate of inflation (or above)?

              So if we have high inflation and falling house prices - doesn't that mean things are f****d?

              Throw your heart over the bar and your body will follow - Norman Vincent Peale

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              • #8
                Chk this out:

                - Block of butter - 85 per cent increase
                - block of mild cheddar cheese - 63 per cent increase
                http://www.nzherald.co.nz/section/1/...ectid=10492549

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                • #9
                  Originally posted by drelly View Post
                  Does anyone have the "shopping list" that they use to calculate inflation? I can't fathom how it could be anywhere near 3% with huge increases in the price of fuel, housing and basic foods.
                  I'd be interested in seeing how they 'weight' various things in the calculation. The essentials like food, housing, transport, power etc must rate pretty low to get these numbers. Something like BMW's which only 0.5% of people buy and which has decreased in price due to the high $ has a rating of 650% whereas food is rated at 20%.

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                  • #10
                    Originally posted by sarahd View Post
                    Just had lunch with John Key (me and 60 others) and they wer talking about the REAL rate of inflation is about 6-7%, some people thinking 10%.

                    Its been a bit hidden by statistics and under quoted at 3.4%.
                    Given this, would people be best to keep their cash in an online savings account (at about 8.40%) and let it erode, or store it in another form of asset?
                    Last edited by alliantGTR34; 17-04-2008, 06:12 PM.

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                    • #11
                      Originally posted by nzfrazer View Post
                      So if we have high inflation and falling house prices - doesn't that mean things are f****d?
                      It actually curbs it. House and vehicle prices are falling, which are big ticket items, and other costs for lower priced commodity goods are skyrocking, so overall its balanced out.

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                      • #12
                        Brilliant! What we own is worth less and what we must have to survive costs more. The up side is that inflation will remain realatively low. Am I missing something here?

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                        • #13
                          I tend to think of inflation as the property owners friend.
                          I did very well when inflation was 16% and mortgages were 22%.
                          *sigh*

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