But surely the reasons why inflation is low or high need to scrutinized, if it is indeed the case that Irish inflation was lower than internationally because of lockdowns we should be able to find this out. Should the esri not be tasked with going into these statistics to find out any anomalies . The impression from this thread seems to be the cso is the authority on this you don't need to worry your little mind anymore?
Increase in Inflation recently?
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Not at all. My point was any cross-country comparison needs to be mindful of the environment. These are not normal times. Locking people in their homes for 4 months, subsiding their income and then letting them out is going to lead to an increase in inflation. The timing when those corks go pop will skew comparisons. No one in their right mind would set policy on such volatile events.
The CSO do an excellent job of giving people a break down of what's contributing to an increase in the price indices.
As for authorities looking at inflation you make it sound like no one is looking at this. The central bank, esri all do. For example
Today in the Dail Fianna Fail's Daragh Calleary speaking about the Mica redress scheme, The rising cost of construction means proposals made just a few months ago are (are already out of date, is this inflation showing up on the monthly CSO monthly reports and the Inflation % shown,
Property again?
I don't know about you but I think the typical household in Ireland does not (re)build a house month-to-month.
Remember the CPI (or consumer price index) measures the typical households typical expenditure in a month. You can't shoehorn everything in there.
I don't build a house every month,
My first post clearly stated my weekly grocery bill has not gone up, but household items have increased quite a bit,
You don't have to be building a house to go to the hardware store and buy items also used in new houses,
When I posted the title of this thread was Increase in Inflation Recently and I responded ,
Mica redress - which you referenced in your earlier post - is hardly small maintenance.
I'll reiterate my earlier advice - look at the CSO link I posted and you'll see what goes in, how much it has risen by and the weight it gets in the overall index (table 7 in particular)
I'll reiterate my earlier advice - look at the CSO link I posted and you'll see what goes in, how much it has risen by and the weight it gets in the overall index (table 7 in particular)
Hi, scrooge
again thanks for the link,
Retired now, When I was working, I spent some time in the USA with the company I was working with I was there at the start of the last crash,
, I remember they had for the want of a better word an index which showed % of inflation/deflation in each sector which was very helpful,
I don't think Ireland has anything like it that I know of when I get a chance I will see can I find it,
The only reason I mentioned Mica redress was that a TD had acknowledged that Inflation In Ireland is so high costings a few months old are already well out of date which is a cause for concern and we have no system in place to flag it,
We seem to be more interested in defending existing reporting systems, TDs seem to be aware of high inflation but we do not seem to be want to know unless it affects us directly not realizing our cost base long term affecting us all in the long run,
In other words, we need to know and be on top of Irish inflation and have systems in place to flag Irish Inflation and what is driving it, and know the reason if it is out of kilter with other Countries Inflation,
I think we already know/ agree the CSO is very helpful but we need to flag Irish Inflation which makes us uncompetitive against our trading partners,
Even more so now seeing our Corporation tax status may change,
again thanks for the link,
Retired now, When I was working, I spent some time in the USA with the company I was working with I was there at the start of the last crash,
, I remember they had for the want of a better word an index which showed % of inflation/deflation in each sector which was very helpful,
I don't think Ireland has anything like it that I know of when I get a chance I will see can I find it,
The only reason I mentioned Mica redress was that a TD had acknowledged that Inflation In Ireland is so high costings a few months old are already well out of date which is a cause for concern and we have no system in place to flag it,
We seem to be more interested in defending existing reporting systems, TDs seem to be aware of high inflation but we do not seem to be want to know unless it affects us directly not realizing our cost base long term affecting us all in the long run,
In other words, we need to know and be on top of Irish inflation and have systems in place to flag Irish Inflation and what is driving it, and know the reason if it is out of kilter with other Countries Inflation,
I think we already know/ agree the CSO is very helpful but we need to flag Irish Inflation which makes us uncompetitive against our trading partners,
Even more so now seeing our Corporation tax status may change,
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An article in the independent today about the "return of nasty inflation" under a picture of Christine lagarde. Surely the cso statistics must be picking this up by now. Everything is going up, fuel, energy, drink and food , services etc. The ecb are saying that it is a temporary phenomenon but of course they would say that now. What happens if it isn't ? Looks like they will play down inflation and under measure it , governments hooked on negative rates could not deal with an increase in interest rates.
They are -
June 2021
CPI and HICP | |||||||
CPI | | HICP | |||||
% monthly change | % annual change | | % monthly change | % annual change | |||
| Feb 2021 | 0.4 | | -0.4 | | 0.3 | | -0.4 |
| Mar 2021 | 0.8 | | 0.0 | | 0.9 | | 0.1 |
| Apr 2021 | 0.7 | | 1.1 | | 0.6 | | 1.1 |
| May 2021 | 0.1 | | 1.7 | | 0.2 | | 1.9 |
| Jun 2021 | 0.2 | | 1.6 | | 0.1 | | 1.6 |
Have you any evidence that the CSO is deliberately understating inflation or is this just another conspiracy theory?
Find a different dentist.
I think you posted not that long ago Doctors Dentist and such like sing from the same hymn sheet and I agree,
I made an appointment to go to the dentist I normally use they were pushing the appointment over a month,
I checked around to see could I get a dental appointment sooner tried several dentists
the all to be fair pointed out that cost had gone up and provided new prices before agreeing to take bookings,
No of course not, I don't work in the cso , I don't earn 100k plus , I actually have a regular job that takes most of my time. I'm giving an opinion that the cso and other European agencies are not actually measuring inflation fully, it's like their measuring probes are being kept away from the fire and and are not detecting fully the heat.
I just think it is convenient not to fully measure inflation because then they don't need to react to it. I'm not singling out the cso because they are using the European metrics since we are in the euro and it is the ecb job to respond or not to inflation. My strong opinion is that inflation is much higher than what is being stated in the statistics.
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