Joey Jo Jo Junior Shabadoo Posted November 15, 2023 Share Posted November 15, 2023 The inflation patrol must be working like a charm. 0 Quote Link to comment Share on other sites More sharing options...
coprolite Posted November 15, 2023 Share Posted November 15, 2023 51 minutes ago, Suspect Device said: Rishi trumpeting this as a great achievement despite it being the easiest of his targets to meet, having very little to do with anyting his government have done and still being almost 2 1/2 times the official BoE target of 2%. Yay Rishi. What a guy. I wonder if the chancellor has figured out what effect this will have on prices yet. Seems churlish to not give Rishi the credit for the fall in global gas prices. 0 Quote Link to comment Share on other sites More sharing options...
Boo Khaki Posted November 15, 2023 Share Posted November 15, 2023 (edited) 38 minutes ago, Alan Twelve said: I'm no economist, so take the following with a pinch of salt, but my understanding is that If the 12-month CPI rate is 4.6%, then the CPI 1-month rate is negative for only the second time since January, and the actual CPI Index is at its third highest rate ever, equal with August and May of this year, only having ever been higher last month and in June this year. Put another way: November was the third most expensive month for UK consumers in history. This is what the govt. are celebrating. I'll take your word for it. I was just working on the much more mundane principle that inflation = rising prices, so while you still have inflation you still have rising prices, and to keep in mind that those rises are on top of already inflated prices. To exaggerate for effect, it seems a bit like crowing about having only killed half as many people as you did the last time. I don't see how telling people the cost of living is still increasing exponentially is in any way anything to congratulate yourself for, especially when he's shown no inclination whatsoever to deal with rampant profiteering passed off as part and parcel of the C.O.L crisis. Edited November 15, 2023 by Boo Khaki 0 Quote Link to comment Share on other sites More sharing options...
Alan Twelve Posted November 15, 2023 Share Posted November 15, 2023 32 minutes ago, Boo Khaki said: I'll take your word for it. I was just working on the much more mundane principle that inflation = rising prices, so while you still have inflation you still have rising prices, and to keep in mind that those rises are on top of already inflated prices. To exaggerate for effect, it seems a bit like crowing about having only killed half as many people as you did the last time. I don't see how telling people the cost of living is still increasing exponentially is in any way anything to congratulate yourself for, especially when he's shown no inclination whatsoever to deal with rampant profiteering passed off as part and parcel of the C.O.L crisis. The ONS figures are here, although they're not updated with the latest figures yet: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/september2023 It is actually genuinely positive news - yes, prices have still gone up based on a year ago, but they're lower than a month ago and that's good. But the government have done literally nothing to bring this about; global inflation rates would have to slow eventually and they've just kept their fingers crossed that it would happen before the end of the year - it's incredibly cynical on Sunak's part to try to take any sort of credit for this. 0 Quote Link to comment Share on other sites More sharing options...
Inanimate Carbon Rod Posted November 15, 2023 Share Posted November 15, 2023 My car insurance (multi car with the wifes) has doubled since last year. All because Liz Truss is a p***k. 0 Quote Link to comment Share on other sites More sharing options...
Leith Green Posted November 15, 2023 Share Posted November 15, 2023 3 hours ago, Inanimate Carbon Rod said: My car insurance (multi car with the wifes) has doubled since last year. All because Liz Truss is a p***k. I still cant work out why car insurance has sky rocketed - I mean, I can understand food, fuel etc - but car insurance? Bizarre imho 0 Quote Link to comment Share on other sites More sharing options...
lichtgilphead Posted November 15, 2023 Share Posted November 15, 2023 7 minutes ago, Leith Green said: I still cant work out why car insurance has sky rocketed - I mean, I can understand food, fuel etc - but car insurance? Bizarre imho I had a claim last year after being shunted from behind (ooh-err!). The repair took months (my insurers blamed customs delays due to brexit) Accordingly, providing me with a hire car cost far more than it would have been previously. Just another brexit bonus! 1 Quote Link to comment Share on other sites More sharing options...
Todd_is_God Posted November 15, 2023 Share Posted November 15, 2023 (edited) So inflation did indeed fall off a cliff, as was utterly predictable. There's absoutely no need for interest rates to be anywhere near as high as they are. Edited November 15, 2023 by Todd_is_God 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted November 15, 2023 Share Posted November 15, 2023 9 hours ago, Joey Jo Jo Junior Shabadoo said: The inflation patrol must be working like a charm. Rishi, I'd like to buy your rock... 1 Quote Link to comment Share on other sites More sharing options...
TxRover Posted November 15, 2023 Share Posted November 15, 2023 2 hours ago, lichtgilphead said: I had a claim last year after being shunted from behind (ooh-err!). The repair took months (my insurers blamed customs delays due to brexit) Accordingly, providing me with a hire car cost far more than it would have been previously. Just another brexit bonus! That's a decent portion of the increase, the cost of hire cars. Add in the increased value of autos, so the expected value they've have had to pay if you totaled your vehicle has increased...supply chain issues...energy costs...the 1/1/22 implementation of the ban on the "loyalty premium" (cheap first quotes with automatic increases built in on renewal) and stuff like that. 0 Quote Link to comment Share on other sites More sharing options...
Boo Khaki Posted November 16, 2023 Share Posted November 16, 2023 22 hours ago, Leith Green said: I still cant work out why car insurance has sky rocketed - I mean, I can understand food, fuel etc - but car insurance? Bizarre imho The price of second-hand cars, and presumably spares, has rocketed since Brexit, but since we've been out of the EU nearly 4 years and we're talking about the last 12 months, I'll suggest its the good old twin-terrors of greed, and companies protecting profit margins. I was actually quite shocked at the difference in the car market. Mrs Khaki had what was a relatively minor, slow speed bump 18 months ago, but because it involved one corner of the vehicle she blootered a wheel, broken axle etc. 4 year old car with next to no mileage on it, garage estimated £1500 for the repairs. Insurance company said it wasn't economically viable to repair it, wrote it off, and sent her their valuation of the car which was many, many times the repair estimation. Seems like a false economy, but if they are using different suppliers for parts and so on, then you just have to take their word for it that it wasn't viable. 1 Quote Link to comment Share on other sites More sharing options...
strichener Posted November 16, 2023 Share Posted November 16, 2023 1 hour ago, Boo Khaki said: The price of second-hand cars, and presumably spares, has rocketed since Brexit, but since we've been out of the EU nearly 4 years and we're talking about the last 12 months, I'll suggest its the good old twin-terrors of greed, and companies protecting profit margins. I was actually quite shocked at the difference in the car market. Mrs Khaki had what was a relatively minor, slow speed bump 18 months ago, but because it involved one corner of the vehicle she blootered a wheel, broken axle etc. 4 year old car with next to no mileage on it, garage estimated £1500 for the repairs. Insurance company said it wasn't economically viable to repair it, wrote it off, and sent her their valuation of the car which was many, many times the repair estimation. Seems like a false economy, but if they are using different suppliers for parts and so on, then you just have to take their word for it that it wasn't viable. The car insurance market as a whole hasn't made a profit for the last couple of years, hence the premium rise. When it comes to cars, the design has now reached a stage where it can take many hours if labour and require bumper removal etc. just to change a headlight bulb. This is also a contributing factor to the tendency to write cars off nowadays. 0 Quote Link to comment Share on other sites More sharing options...
The Black Flag Posted November 20, 2023 Share Posted November 20, 2023 On 15/11/2023 at 08:49, Suspect Device said: Rishi trumpeting this as a great achievement despite it being the easiest of his targets to meet, having very little to do with anyting his government have done and still being almost 2 1/2 times the official BoE target of 2%. Yay Rishi. What a guy. Just wait until all those people who have or own property realise how much of this is bullshit, no.... all of this is bullshit, if they haven't already. How will the banks react to this incredible number juggling, especially concerning climbing mortgage rates and the housing market, which isn't being pulled out of the mud. No £400 off household energy bills either this winter for lower incomes, so everyone is still paying more now and this will continue. The Government are on a completely different planet from reality. But I suppose if they and their pals in banking have had their bonus caps removed, then it will be no f***s given even if they lose the next election, they can always default blame Labour for making a mess of the economy. 3 Quote Link to comment Share on other sites More sharing options...
The Black Flag Posted November 20, 2023 Share Posted November 20, 2023 Also worth mentioning while the price of gas and electricity is going down the Standing Charge has doubled and will continue to climb as energy companies see this as a way of continuing to keep profits at maximum and their wealthy share holders happy and keep high fiving Tory politicians. Electricity SC charges are mental just now. Absolutely not buying into this bullcrap of blaming failed energy companies and the cost of fixing power lines as if this is a new thing. Ofgem set a new lower ceiling recently and the energy companies will continue to exploit houseowners regardless and charge what ever they want inside the cap limits. It's blatant profiteering but perfectly ok within the limits set by Ofgem. I would not be surprised if those people that make up Ofgem have a conflict of interest and a blind eye is turned. 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted November 21, 2023 Share Posted November 21, 2023 4 hours ago, orfc said: I've known a few people get write-offs lately, and the latest insurance trick seems to be to give you their value of what the car is worth, which isn't enough to get a like for like replacement. If it was just one tale I'd go "ahh unlucky" but it's a pattern now. If you don't like it you can f**k off to the ombudsman and wait years This isn't a recent phenomenon. Insurance companies have been doing this for as long as I can remember. 0 Quote Link to comment Share on other sites More sharing options...
Soapy FFC Posted November 21, 2023 Share Posted November 21, 2023 12 minutes ago, strichener said: This isn't a recent phenomenon. Insurance companies have been doing this for as long as I can remember. Agreed. For as long as I remember my insurance will only pay full replacement value for a car less than a year old. 0 Quote Link to comment Share on other sites More sharing options...
Trogdor Posted November 21, 2023 Share Posted November 21, 2023 (edited) 12 minutes ago, Soapy FFC said: Agreed. For as long as I remember my insurance will only pay full replacement value for a car less than a year old. I'm sure you are supposed to get market value. When I wrote off a car (albeit 13 years ago) I got an offer from the Insurer that I couldn't buy the same car again with. I sent them examples of what it would cost in the local area. The car was six years old at the time. They gave me the cost of buying a new one (ie. 6 year old) less my excess. There were no other vehicles involved and it was my fault. I thought that was standard practice though. Edited November 21, 2023 by Trogdor 0 Quote Link to comment Share on other sites More sharing options...
Soapy FFC Posted November 21, 2023 Share Posted November 21, 2023 14 minutes ago, Trogdor said: I'm sure you are supposed to get market value. When I wrote off a car (albeit 13 years ago) I got an offer from the Insurer that I couldn't buy the same car again with. I sent them examples of what it would cost in the local area. The car was six years old at the time. They gave me the cost of buying a new one (ie. 6 year old) less my excess. There were no other vehicles involved and it was my fault. I thought that was standard practice though. Rightly or wrongly, I've always interpreted "market value" as how much I would have been able to sell my car for, not how much it would be to replace it with a similar car. Semantics I know, but probably important given differences in selling and retail values. Maybe I've been too pessimistic in what insurance will pay. 0 Quote Link to comment Share on other sites More sharing options...
MacDuffman Posted November 21, 2023 Share Posted November 21, 2023 Insurance company will only give you market value of the vehicle. They are not interested in what extras you have put on/into it. Same when you sell a vehicle - prospective purchasers don't give a feck that you have spent a fortune adding all sorts of crap to it. 0 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted November 23, 2023 Share Posted November 23, 2023 I'm glad I fixed my rates last month but I might get hit if it goes down in April/May with the next change. Not so bad in the summer months. 0 Quote Link to comment Share on other sites More sharing options...
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