The UK Government Is Lying About Inflation
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- Опубликовано: 14 май 2024
- Inflation in the UK has dropped from 4.7% to 4.2% and Rishi Sunak, Jeremy Hunt and the UK Government are once again celebrating.
The problem is that this data is misrepresenting what is actually happening with inflation in the UK.
And even worse - the drop in inflation in November is based on factually inaccurate data after the reduction in the energy price cap.
The truth is - the UK economy, UK CPI and the deepening mortgage crisis are a big concern - house prices have already started to collapse.
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When wholesale gas and electricity prices fall, but every supplier in the country ignores the figures and just carries on bending you over.
they dont ignore them they just charge more on distribution fixed amount :D. Youre paying just for being connected not for the actual consumption :D
you forgot to write the words 'without lube' !!
This is what price controls can do. The amount they charge is now entirely independent of actually fuel prices or consumption.
Natural gas prices are the same as during covid but one problem is that we import half of our gas from the US in the form on LNG which is 3-4X the cost of pipeline gas.
isnt their a delay in when consumers see the effects of reduced energy costs, because supliers buy in bulk so we as customers are still buying the more exspensive batch of energy that they have purchased from a few months back? it just seems that as soon as energy prices fall, ofgem raise the cap, so i guess we will always get bent over some people must really struggle with the cost of everything, i dont know how people manage tbh.
Saw this bull**** (sorry news) this morning and genuinely wondered what you would have to say about it. And here you are! God bless you.
The celebratory tweets from Rishi Sunak and Jeremy Hunt are particularly entertaining!
I came to YoutTube expecting to see this video as soon as I checked the news 😂
Hahaha. I am happy to oblige!
Your videos are my hobby now
everyone share this with ur UK friends, we need true, REAL media voices like this guy.
Why though? 80% people happy to live in a bubble and love the oat on the back from the GOV telling them all is going well.
Share list of taxes:
Inflation tax 6% , income tax 40%, NI tax 10-12% tax, council tax, Rental payments or mortgage interests 5.5%, Vat 20% tax, capital gain 20-25% tax, road tax, UELZ carbon tax and more stealth taxes and many more taxes are in pipeline and more taxes. Yes I am slave citizens of taxes and bills here in UK. Very soon nation will be in queue for food banks
@@knowledgeseeker5499 taxes in the uk are pretty low if you actually wanted public services which worked you'd need to pay more and have a government that isn't corrupt
@@gregprocter765 totally disagree with you
Our monthly energy costs have doubled over the past few months.
food costs are still sky high as well
That generally happens every winter especially if you pay your bill on receipt and not the smoothed out direct debit.
Keep up the good work Sasha, keep exposing them corrupt politicians!
UK government, lying?? Surely not. It is the epitome of integrity and prudent financial planning.
Bwa-ha-ha-ha-haaahhh!! 😂
Only it's not funny. 😦
Well if it looks good , you look good but most importantly i look good. This is how corporate world work. I bet you people lie all the time in their workplace? If they can why cant the government cant?
It will be funny when we don't live in the UK anymore and can forget about Brexitland permanently
When do they not lie?
The elephant in the room is that there's a psychological element to the economy. For instance you can have a nation of really rich people with loads of savings, but if they are scared to spend anything, then as far as businesses are concerned, everyone may as well be poor, and they wouldn't be able to pay workers their salaries.
So don't underestimate the importance of lying.
You can tell when a politician is lying, he moves his mouth.
I always check in after a government announcement like today's and you never dissappoint! Super speedy as always!
The cooked chicken pieces in morrisons was 240g for 1.95 this week it changed to 210g for 1.95.
And the potatoes! Prices haven’t changed for a bag of potatoes, be they white, Maris piper or wonkey, but they’ve reduced the amount from 2.5kg per bag to 2kg per bag! That’s 20% less for the “same price”!
Should have gone to Iceland
That's shrinkflation
If you noticed plastic bag s we now pay for at checkout are getting smaller so we will need more to carry the more expensive food.
Thanks for actually delivering a fact-check. Mainstream reporting is unable (or unwilling) to dive into this properly. Trusting this random guy on RUclips more than our reporters or the government :D
With Adds
Prices are dropping fast. While I do a handstand.
9:57 This random guy is misleading. Beware, and fact check, what you hear on the internet.
He says most people are paying more for their energy this year…... hmmm
Last year, we were paying 10.5p per kilowatt hour for gas, now we are paying 6.7p. On an average household of 12,000 kWh per year, that is a drop of
£456. Which more than balances out the loss of the freebie £400 subsidy. And we also have a drop in electricity from 34p to 27p to further increase the SAVINGS we have this year. So energy is DEFINITELY lower this year. And NOT higher as RUclips man asserts.
It’s a shame, as so many people love to believe random YTubers, even when they talk nonsense. Remember to fact check the fact checkers people.
If you believe you can trust a random RUclipsr, who has no qualification that you know of. Then you really shouldn't be critically analysing which sources to trust and which sources to not trust. It's like joining a cult because the guy in charge was charming. How idiotic. Main stream media only interviews people who spend 30-40 years studying economics. But you would rather trust a random RUclipsr. Yes. People like you will save humanity.
@@ianh3365 everyone pays the same energy price?
“Sasha will call out their BS” my first thought when I saw headlines
Thanks for this. The state of this country really is depressing.
And yet the Tories seem so very cheerful …
I fucking hate it i have had ENOUGH
Great analysis, sir. And timely as well, not weeks after the fact. Top stuff.
This is an absolute joke and shows why politicians are so useless! I hope more people see your videos. They are so important for everyone to see!
They aren't useless, they are highly selective with the figures they choose.
100% of the uk population could see this and nothing would happen. Spineless people these days, unfortunately
@@pauln6803 Haha politicians bend us all over whilst laughing at us for believing thier bullshit. We'll I don't believe a word they say anyways because at the end of the day the truth come in the form of what you see around you, the way people have started to behave, the environment you live in, the affordability of energy, food qnd resources needed for basic survival... yeah they are not useless I believe you 😒
Honestly to them, the inflation feels like everything’s still very cheap.
Force most of them to live just a bit above minimum wage for 1 year, then they can actually say anything on inflation.
All part of the WEF agenda, Daddy Shwab is calling the shots.
They lie all the time they think we are stupid
We are, we voted brexit, you can't get more stupid than that.
Most people are stupid and cowards that why they continuely get away with it
My mortage has gone from about £520 a month to around £950 a month and whilst im able to keep on top of the bills(just barely) i know of many people in my group of friends who were only just getting by before. now all of their mortgages are coming off their fixed rates they are panicing and getting into debt with no way out. its going to be a painful 12 months for everyone unless the BoE gives up on the inflation fight and lowers interest rates anyway. on top of this I expect a big jump in the price of oil and consumer products now that the red sea is becomming a hotbed as insurance premiums are going up for ships and that will be passed along to consumers as well.
Let them know there is a government supported scheme where you can move to 6 months interest only, they also allow changing the term of the mortgage i.e. make it longer. This doesn't affect credit ratings either. Personally I think they will cut sooner than people think, bond yields are plummeting so there's no reason to have the base rate so high anymore. I do think there's a chance that inflation comes back though especially oil and gas prices.
I hope the BOE doesn't lower interest rates and if it does is after the FED does.
I am a saver and do not want to take out a mortgage at this rates and more inflation would wreck my savings and I won't be able to barely compensate for the inflation with high savings rates like I've done up until now...
@@JagdgeschwaderX6 months is nothing. I have been working 7 days a week for last 3 months to pay off debt b4 my mortgage rise. I have managed. I have been telling friends for awhile the worst is yet to come
@@bangdobrichjoin the club my mortgage has gone up +£420.. 0.9% to 4.89 %
@@MikeSmith-qs2nr I believe rates will go up next year as inflation is definitely on the rise again. I'd love nothing more than rates to be cut now but it's a no win situation, lower rates have inflation, keep rates or higher then and we get a recession/depression
As soon as the headline was read out yesterday, my exact thoughts were - this is a windfall drop in inflation, caused by the drop in oil price. As soon as the Red Sea embargos kick in, we’ll be back to high fuel prices and double digit inflation. It’s a bit like finding a fiver, then losing a twenty pound note the following day.
My mortgage has gone from 0.9% to 4.89% .. £720 to £1140 .. energy also and I am wondering the same as I am not the only person. Wondering how is it getting better when it feels like it's getting worse. But the TV claims better .. thanks sasha great content. Keep it coming.
My savings rates have gone from 0.5% to between 5 & 6%, nobody cared about savers when rates were shit, funny how tables turn.
So rates are back to normal now then
@@kw8757
That's because people have been over leveraging themselves to get on to the property market.
Very few people have been able to sustainability increase their earnings anywhere close to the rise in house prices and rent over recent years, but people still need a place to live and want a few trinkets to make that life more comfortable.
People have been less concerned about savings rates, simply because fewer people save much aside from what they can put in a pension scheme.
@@simplydividends Exactly. Idiots buying houses they couldn't really afford when the interest rates were basically zero and hoping the rate wouldn't rise back to a normal level.
@@kw8757I'm retired and currently benefitting from higher interest rates, but I'm not stupid, we are ALL going to be f*cked.
I couldnt wait to see this video after reading the headlines this morning 😆😆😆
👍
Same here I saw lies on the mainstream media...
Thank you Sasha, some proper analysis at last. It’s been clear for ages that the official stats have been cobblers but good to finally find someone capable of real analysis. I’ve now subscribed.
Food here in London is literally twice as expensive compared to pre-pandemic, eg. bread, oats, soup, apples, crisps. Even basic brand stuff is expensive.
Exactly
Food has been increasing in price over decades, this isn't so much inflation, more downright corporate greed. You could call it, Shrinkflation. the products getting smaller while at the same time, more expensive.
The cheap & lesser quality stuff in Aldi / Lidl is the price of brand foods from years ago.
I wish I could be politician or banker because both are good robbers with suits and tie and their blunders get funded by bailouts or more public tax. I am in wrong profession 🤔
@@Lee_303
Don't knock the Germans!
Some of their stuff might be bargain basement nastiness, but a surprising amount of their products is good enough to rival and even (personal taste dependent) beat what you'd pay double from Marks 'n' Sparks.
*cough cough*
Brexit
*cough cough*
Thank you again for sharing your diligent research 🙏
Was waiting for this since I saw the headlines.
This is great stuff for a RUclips channel. You actually dive into the underlying data and footnotes accompanying the release. Kudos.
When you are sitting on a mountain of debt, you need to manipulate interest rates.
That makes lying about inflation necessary.
Otherwise it will all unravel.
absolutely...high interest rates, like you say, are needed to attract money to pay our debts....
So naive, the 'unravelling' is the goal. This is a controlled demolition.
They’re all lying
Thank you for providing such great content.
So pleased to hear you have an expert dog available to validate data. Now that’s reassuring . 🐕
Thanks for the truth 👍🏻
mate I love your content Sasha, cheers!
I was really waiting for this vid Sasha after the 'news' today! Thanks as always
There you go!
super helpful !!!
Great video, thanks!
There was an interview with Hunt just a couple of months ago and he categorically stated it was “core inflation” rate that was targeted …as you say this has fallen by a fraction but is miles away from “halving” !
As soon as I saw the news I was waiting for the Sasha response
Sasha thank you for your video. I agree 100%. And I hope everyone else does too. I am glad someone speaks the truth about the country I love. God bless
I wish I could be a career politician or banker because both are good robbers with suits and tie and their blunders get funded by bailouts or more public taxes. Ironically they never get prosecuted or punished for their actions but they get rewards. Simply Amazing…,I am in wrong profession 🤔
It's not all they've lied about funnily enough.
I wondered if the motor and house insurance costs are included in the official figures my motor insurance went up by 40% with no changes to the policy!
I had similar when mine auto renewed, except it more than doubled and they took it out my account in one chunk without authorisation. This should be illegal IMHO
@@mandrakejake they would have emailed the email address on your insurance account to tell you the renewal price around 1 month before taking the payment.
@@NomadJRG that is fair, I realised afterwards their email had gone to junk mail. But I never authorised the payment and never would've done as it was completely uncompetitive. I found it elsewhere for half their renewal
@mandrakejake You may have been counting much larger costs if you had an accident and been uninsured. Buy a reduced price calendar on January 1st and mark a few dates.
I’m so lucky I’ve got 3 years left on my fix mortgage!! Gonna pretend my payment has doubled and put into savings and pay a lump sum at the end
7 for me, overpaying as best i can, so will be shorter.
Why not over pay now? Savings probably won’t increase as much as the reduction in monthly mortgage costs.
Provided you don’t go over and get a penalty. Choose to have your monthly payment reduced rather than having the term reduced. Seeing an actual reduction in your monthly payments keeps you motivated to keep doing it.
Microsoft excel has a function to calculate interest payments so run the numbers through that. Also be aware of income tax on savings.
That’s how I paid down my mortgage when the interest rates were low and am living mortgage free.
@davideyres955 probably overpay pen. I got a few years of no pen but after that, it hits.
Most don't have a luxury of over paying. My mortgage has gone up +£420. At this rate I will be working 6 day weeks soon . .. even if I sold my home the rent in my area would be the same.
@MikeSmith-qs2nr yep that's the shit rub of the green that comes from overall black Swan of War and truss tax.
It's great how the tories claim that inflation was their of their hands when it went up but all their credit when it went down.
As soon as I saw the inflation figures….knew I had to search the Sasha analysis on it for the real stats!
First time I've been pushed a video of yours. Top tier analysis. Subbed. keep it up. Need to arm people with more actual information rather than emotive battle camp media coverage. This content will help.
Excellent.
Sasha thabjs fir being the voice of reason amongst this chaos. Im a relatovely good earner for the UK and still think we are spending £1200-1500 a month on food & essentials non mortgage. A real madness for a 3 person family. Pray for payrises brother xx
The problem with pay rises is that they can further drive inflation. They also need to be made because of business and market financial performance improvements. Unfortunately, UK businesses are not a major player in the world game anymore (with the exception of financial services).
This nation is only going to continue to see more economic hardship for its citizens unless there is a dramatic change.
Hey Sasha, yet another great video. I'm just a drop in the ocean but I can confirm that I just received a letter announcing my energy bills are going to increase (again) from next year...
I love your video's
Absolutely
Inflation tax 6% , income tax 40%, NI tax 10-12% tax, council tax, Rental payments or mortgage interests 5.5%, Vat 20% tax, capital gain 20-25% tax, road tax, UELZ carbon tax and more stealth taxes and many more taxes are in pipeline and more taxes. Yes I am slave citizens of taxes and bills here in UK. Very soon nation will be in queue for food banks
move to Asia...its cheap and warm here. also no BS wars that we have to finance
Thank goodness the Conservatives are the party of low taxes and sound fiscal management!
@@havencat9337yeah, great if you can be there with a western salary.
If you’re paying 40% tax on your whole salary, or 12% NI and 40% income tax you need to fire your account and the sue them
the prices are actually going up in my area. Four cupcakes grew 20p in price this week compared to last week. They are now 1.70, last week they were 1.50.
Thank you for a breath of reality !
WHY DO WE NOT BELIEVE ANYTHING THEY SAY ??? We have had enough from evil people …
Great video and thanks for sharing Sasha… I eagerly await your videos dropping after events like the inflation numbers being published. In NE England house prices in many areas are still increasing… in a similar way that the NE region had the smallest increases over the last few years. Could people be moving to cheaper areas where they can buy “MORE house”? Is there also a case for people coming off 5-year fixes being able to afford higher payments due to wage increases for both earners in the household?
the NE is the most affordable housing in the UK with Newcastle becoming the new graduate city of choice to move to. This is inflationary to that region but who can blame students/graduates who want a better chance in life.
They’re lying! No way!
Another great video mate. This puts the nail in the coffin for me, I'll go from Malta to Australia next year instead of coming back home
Prices aren’t falling, it all BS…….
Best video ever
My rent is going up by 20% in January!
Greedy landlord or greedy UK taxes either we are screwed
Aussie here.
Landlord jacked mine up 12% in 2022. Took it on the chin, but could see the writing on the wall. Was already saving for a deposit, went aggressive that year to get a 20% deposit, and finally got out of renting only weeks before my tenancy was to be renewed.
Landlord then jacked it up 37.5% for the new tenants.
Food prices aren’t falling. Everyone is out to rip of the consumer.
They wont fall, inflation does not reverse the past inflation it just means it will slow down the future increase
Nothing is going down in price. Everything is still increasing. Real inflation is 10-15%.
Even if inflation was at a real 1% rate prices still go up by 1% on top of all the other rises 😮only deflation brings prices down
Why I am not surprised that the Tories are cooking the books on inflation.
And utility bill standing charges have doubled since last year
Great run down on data, never myself went into a deep dive but some how guessed when it was suggested in the media inflation was somehow down and sunak has halved inflation. Was all crap. Now from your video I understand more of how they did it
2023 nearly out. what a transition year and boy we need a big transition
CAME IN WITH THE RECIPTS! SASHA YANSHIN!!!!!! LFGGGG!!!!
A freaking bottle of shampoo costs £6 now. And then they say there's no inflation??!
Buy a cheaper brand. Vote with your wallet.
Revised figures from the UK's Office for National Statistics (ONS) show that the UK economy contracted by 0.1% in the third quarter (July-August-September) compared to the previous three months. Initially, there was no growth.
In addition, the figures for the second quarter (April-May-June) have also been revised. Instead of 0.2% growth, there is now no growth. This puts the UK on the brink of a recession, which is defined as two consecutive quarters of negative growth. There has already been a contraction of 0.3% for October.
Thanks!
Wow! Thank you so much! That's very kind!
Their “pretend plans” play out like a Tragedy from Shakespeare… And we’re suppose to be the protagonists!
Shakespeare? More like the Muppet Show 😂
The MP's are now looking at a 7.1% wage increase next year WTF
OFC they are! Us is doing this too! :)
I noticed that behaviour from the government since I moved to the UK in 2003
Don't forget the dollar / pound exchange rate making fuel cheaper too.
No more expensive.
Damn... nice work, thank you for sharing. At this point i don't trust anything gov, most of the time i just know i don't know how they are lying to me but i just assume they do.
they did a great job!
Good video
Reminds me of a pension analyst I used to know. When asked for a report, he would flip the 📉📈 and write his argument. At least the ONS put the notes in to allow you to work the numbers yourself. When only the headline figure gets reported, it's easy to be mislead.
My regular Kenco coffee has doubled in price since last year, and tomato sauce
Great news on the minimum wage 💯👍👍👍
It is a long time since we got any honesty from a UK government. Council tax has just gone up by a maximum amount, vehicle insurance has jumped up and as for food and energy!
vehicle insurance!!! Mine went up 50%!! I've never made a claim in over 50 years!!!
Brexit and lockdowns have consequences. I didn’t want either.
The ONS provides the inflation figures not the government.
The owner occupied housing inflation might look odd because it is actually the deflator for the costs of producing imputed rents in national accounts. Imputed rents are a very quirky part of national accounts so the calculation of the deflator for this is probably weird too.
At this point it would be quicker to list what they are not lying about...be a short list n all.
Sainsbury prices are increasing ,,thieving barstewards 😢
This video needs more views...
Sasha what do you see happening in 2024? In terms of inflation, possibility of recession etc
Inflation will be high if the forcast interest rates cuts come in 😮
Government lying? Say it ain't so. Oh, it is.
Most things I have been buying on Amazon for Christmas are 1.5x the price of when I bought them this time last year. Its crazy!
Everything going up not down
In Singapore, food prices has risen 20%-60%, some even 100%
Same here in the UK. Some own brand milk based products are up over 100% since covid.
@@wokelefty what tax hikes will UK be having in 2024? In Singapore, come 1st Jan 2024, we will have tax hikes in property tax, water price, carbon tax, GST, medical fee. And our Christmas "gift" is a public transport fare hike on 23 Dec 2023.
Must be Brexit.
Thank you Sasha! The ONS data on rental price increase shows 7% rent increase this year around London. However, the ground reality is that the actual rental increase is nearly 15-18%. Thats what the landlords are charging around and for my mates. It makes no sense and ONS data is grossly wrong.
It's should be called ...
"The office for national stupidity "
Shrinkflation is also something thats gone on across the board, so as well as everything doubling at least in price , its halved in size .
Classic, I said owner/occupier costs would drive inflation to a well known economist not too long ago, and they went out of their way to tell me how I was wrong.
From Terence Wise in UK...........We buy the same calendar every year and this year it’s price has increased by 25 per cent.
“You will own nothing and be happy”
Oh and somehow my gas and electricity payments have gone up by 4 times the amount.🤷🏻♂️
It’s a constant inflation gap.
When Inflation fires back up again in the February/March guess they will blame Putin, again LOL.
Sadly with each passing day we can see the impact this awful policy has had on the UK. Tied up in red tape and tariffs with lower GDP than before the pandemic whilst the others in the G7, including Italy, are above. The lower GDP means we do not have the headroom to pay our way in the world and must resort to borrowing.Whilst there are rich people in the UK; a great many of us are poor and now we are poorer still. What steps can we take to generate more income during quantitative adjustment?
Indeed, you are correct! But on the advantageous aspect, economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.
The political buro joke was so on point!
Supermarkets and Co op have stopped taking the p×ss with prices.. Can't say anythings getting cheaper tho..