{"id":45300,"date":"2017-02-24T02:07:14","date_gmt":"2017-02-23T19:07:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cpi-was-never-meant-to-be-real-measure-of-inflation-letters\/"},"modified":"2017-02-24T02:12:53","modified_gmt":"2017-02-23T19:12:53","slug":"cpi-was-never-meant-to-be-real-measure-of-inflation-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cpi-was-never-meant-to-be-real-measure-of-inflation-letters\/","title":{"rendered":"CPI was never meant to be real measure of inflation | Letters"},"content":{"rendered":"


\nYour article (Pension changes could cost 11m Britons thousands of pounds, 21 February) says 75% of pension schemes use the retail price index (RPI). But all the public-sector schemes, which must be more than 25%, as well as many in the private sector \u2013 eg BT, BA \u2013 have used the consumer price index (CPI) for years. The article says RPI is usually greater than CPI; in fact it is virtually always greater because of the different way they are calculated \u2013 it\u2019s called the formula effect. To cut a long and complicated story short, RPI may overstate inflation by about 0.2% on average but CPI understates it by about 0.8%.Over time that\u2019s a big difference and will of course affect future pensioners (today\u2019s young) more than it will current pensioners \u2013 this is not a baby boomer issue. Basically CPI was never meant to be a real measure of inflation; rather it was a way of comparing inflation in EU states. Its adoption by the government as the measure of inflation rises \u2013 on benefits as well as pensions \u2013 since 2010 is basically a mendacious scam.David QuinnLondon Continue reading…
\n
\nSource : theguardian.com
\nRead more…CPI was never meant to be real measure of inflation | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Your article (Pension changes could cost 11m Britons thousands of pounds, 21 February) says 75%...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-45300","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bME","jetpack-related-posts":[{"id":44828,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pension-changes-could-cost-11m-britons-thousands-of-pounds\/","url_meta":{"origin":45300,"position":0},"title":"Pension changes could cost 11m Britons thousands of pounds","date":"February 20, 2017","format":false,"excerpt":"\r Government green paper discusses giving annual rises based on CPI, not RPI, which could cost average of \u00a320,000 over lifetimeCompanies could slash pension promises to 11 million employees, potentially knocking thousands of pounds off the incomes of people in retirement, if proposals in a government consultation paper are approved.Unions\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rpi-no-longer-fit-for-deciding-rail-fare-rises-letters\/","url_meta":{"origin":45300,"position":1},"title":"RPI no longer fit for deciding rail fare rises | Letters","date":"December 7, 2017","format":false,"excerpt":"\r Hetah Shah of the Royal Statistical Society says that people\u2019s incomes and outgoings should both be linked to a single index, CPI, which commands \u2018national statistic\u2019 status and is credible for uprating purposesThe shadow transport secretary, Andy McDonald, is on the right tracks. The annual rises in rail fares\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cnbc-daily-open-bracing-for-aprils-cpi-reading\/","url_meta":{"origin":45300,"position":2},"title":"CNBC Daily Open: Bracing for April\u2019s CPI reading","date":"May 10, 2023","format":false,"excerpt":"\r Markets had a quiet Tuesday as investors braced for key inflation reports coming out later today and Thursday.\r \r Source : cnbc.com\r Read more...CNBC Daily Open: Bracing for April\u2019s CPI reading","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110503,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2019-growth-forecast-for-singapores-economy-slashed-to-0-6\/","url_meta":{"origin":45300,"position":3},"title":"2019 growth forecast for Singapore\u2019s economy slashed to 0.6%","date":"September 5, 2019","format":false,"excerpt":"\r The economists expects year-on-year growth to come in at 0.3 percent in the third quarter, citing escalating US-China trade tensions as well as further slowdown in China as top concerns. Private-sector economists expect Singapore\u2019s economy to grow by 0.6 percent this year, way lower from an earlier forecast of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14060,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/accuracy-of-ons-food-prices-data-challenged-by-the-ons\/","url_meta":{"origin":45300,"position":4},"title":"Accuracy of ONS food prices data challenged by \u2026 the ONS","date":"May 23, 2016","format":false,"excerpt":"\r Official CPI figures for the price of food and drink are vastly different from those unearthed by an ONS project which \u2018scrapes\u2019 supermarket website price dataThe price of food and drink may have fallen faster than official estimates, according to the government body charged with collecting the data.The Office\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13396,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/april-housing-starts-up-6-6-cpi-up-0-4\/","url_meta":{"origin":45300,"position":5},"title":"April housing starts up 6.6%, CPI up 0.4%","date":"May 17, 2016","format":false,"excerpt":"\r CNBC's Rick Santelli breaks down the latest numbers on housing and consumer prices. And CNBC's Steve Liesman and Diana Olick provide insight to the housing market.\r \r Source : cnbc.com\r Read more...April housing starts up 6.6%, CPI up 0.4%","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/45300"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=45300"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/45300\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=45300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=45300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=45300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}