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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Media reports costs of living rises as Good News!

Politics / Inflation May 22, 2014 - 11:40 AM GMT

By: Jonathan_Davis

Politics

Some quotes from the BBC article – which no doubt – were repeated throughout the country all day and night yesterday:

“Food sales during the late Easter holiday made a significant contribution to the overall figure, the ONS said.

They were 6.3% higher in April against a year earlier”


And from The Guardian “The ONS said there had been an across-the-board increase in sales last month, with food stores showing their strongest annual growth rates in 12 years. Supermarket price wars are believed to have been a factor in the 6.3% rise in sales in the year to April.”

On what planet do they expect us to believe that rising food sales is the result of discounting and that we’re buying more than 7% more food than last year.  (With ‘discounting’ we must be buying more than the 6.3% rise in sales.)  And yet most do believe it.  #brainwashing

Do you seriously believe we are buying so much more food?  No. No. No.

The price of food has gone up.  IT HAS NOT BEEN DISCOUNTED.  My wife and I are constantly amazed at the prices in Sainsbury and Morrisons, our local superstores.  Hence why we love #ALDI.  As I say – Tesco Premium goods at Tesco Value prices.

Anyway, the media has lied through its teeth that prices have fallen and we are eating several % more than last year.  Sure, there was the Bank Holiday extra purchases but over 6% difference?  NO WAY!

It’s not good news.  It shows the prices of Needs, not Nices, are rising faster than the official inflation rates.  Quelle surprise.  Perish the thought politicians and civil servants would ever tell us the truth.

Prices falling in goods we want eg clothes and electronics.  Prices rising in goods we need eg energy and food.

Word of the day: #Biflation

How does this affect your investing decisions and strategies?  Read my other pieces on what you can do.

Nothing in these articles can be taken as financial advice.   Neither Jonathan Davis nor Jonathan Davis Wealth Management will be held responsible for action taken or not taken from reading these articles.

We recommend investors seek bespoke advice before acting.

By Jonathan Davis

http://jonathandaviswm.wordpress.com/

25+ year veteran of the world of financial services, the last 10 doing the same thing under his own name.  We work with families all over the UK and in Switzerland and, indeed, on 2 other continents. If interested in our Wealth Management work, cast a glance at the firm’s website.

From time to time media folk call me and ask me to rant live or in the press.  JD in the media.

I don’t buy hype.  I don’t believe it’s the end of the world but I do believe, within a generation, the West will have no welfare state.  The maths don’t lie.  We’re toast.  It’s obvious if you think about it.

© 2014 Copyright Jonathan Davis - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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