Damo, although your decision to not do an inflation based video every month is your call, I just wanted to say that these are super valuable. We're bombarded with so much crap in the news, its near impossible to understand the true meaning to our pockets. I appreciate the effort you put in to these, they're super helpful (as are all other topics you cover!)
What the updates have done is to tell people to look at the detail. That’s important. Going forward, regarding inflation, maybe just concentrate on calling out the mainstream media and government on their lies. The BBC told us this time that increased energy usage is why inflation has ticked up. It’s utter ignorance at best, deceit at worst. Their journalists see a change then pick something to explain it, either randomly or to fit whatever narrative they have going at the time. Utterly irresponsible and negligent.
the reason CPI is used is because it under states real inflation to the average person this in turn allowed your employer to pay you less, the government to tax you more and the suppliers to charge you more as they dont increase their price in line with CPI they increase their prices in line with their actual cost increases. The purpose of CPI is to make you poorer.
CPI doesn't include housing costs to give closer reflection of inflation as the measure of the price of goods not the cost of life. RPI and CPI are measuring different things in a different way. I wouldn't chalk it up to anything nefarious. Almost all employers will find an excuse to give as smallest if any pay rise. Suppliers will always increase prices based on the actual cost of goods. Inflation is average in price changes. If there is an apple shortage and prices skyrocket by 2000% but all other fruits stay the same price, inflation would be 0.1%.
Keep them coming Damien! This is what I look forward to as you break it down so well. Let’s face it we are entering an uncertain period and we need to be as best informed as possible! My 2 pence!
It's a long standing tradition and quite useful when used for good, mockery of crazy ideas etc. The issue is our entire rulling class is full of traitors, regardless of party membership.
The billionaire non-dom press barons are to blame. The level of political discourse in the UK sinks to the lowest common denominator, aka the Daily Mail/Daily Heil. Most people haven't got a clue that judgement of an in-coming government on its handling of inflation can't be made until they've been in for at least two years. In fact most people haven't got a clue about anything. Most people are not aware that the Bank of England adjusts the level of interest rates in an attempt to control inflation (although since Gideon Osborne changed the criteria in 2015, supposedly the BoE is "also" meant to "support" government economic policy when taking those decisions, an injected ambiguity which is almost certainly the reason why Sleepy Andy (Bailey) failed so spectacularly in his most important task in the lead-up to the 2022 spike).
It started off with house price inflation, and most people were cheering it on, The place across the road went up 27% in 27 months without anything being done to it.
You are just an extraordinary storyteller and trusted information provider, I wouldn’t care what topic you pick to discuss because I know it will be both relevant, interesting and entertaining. (And I say that as an American in France who sighs in longing at the idea of ISAs). Keep following your instincts. And merci.
No Damo! Keep doing them… it’s a lot easier sitting here listening to you and seeing the graphs than it is for me to scroll the internet trying to find the same info! If people aren’t interested in these inflation videos, then they don’t have to watch them do they 😅
Sorry Damien you need to keep doing inflation monthly review, as the media and BBC don’t want to tell the truth, and ignore CPIH entirely. Please keep doing it as the truth matters when the politicians will always spin the facts!
The BBC seem to be massive VIs (Vested Interests) with regards house prices. On a different forum we reckon all their journalists must have huge mortgages coming up for renewal soon.
The slow fuse of the ticking time bomb that’s been burning for a number of years on the UK economy is getting shorter & shorter. I really do fear what’s coming for the “lower” “normal” “average” wage earning people of which I’m one of… deeply worrying
Why does the ONS say that the rise in inflation is mainly due to gas and electricity, when their data says otherwise and the increase in the price cap can only affect future inflation, not the inflation over the last year? This is very misleading and I'm concerned the ONS is doing it for political reasons.
The is one more huge reason they use CPI rather than CPIH. The one button the BoE has is “raise interest rates”. But doing that will cause the H to raise as well further proving the action is counterproductive!
Damien, Im turning 30 next year. I've only just found your youtube channel and I've already learnt so much from you. There are many other youtube channels that provider this similar type of advice but there is something about it coming from you that seems genuine in helping others instead of ripping them off. Since today I've begun moving my ISA's into higher interest rate ISA providers and begun my first Stocks ISA. I'm looking forward for the long term investing!
You and Sasha do a really good job of highlighting the bits most media miss and arguably matters more. It would be a shame not to hear your perspective on it.
I appreciate these updates as they often highlight something I've missed. How about summarising the main elements as part of your monthly community video?
Why can't politicians just answer the question rather than making fun of each other. I'd love to hear from real, grown adults what they're doing with the country I live in
Because they're ALL "Entitled" pompous little boys playing with other people's life, so basically "Narcissistic" and have forgotten they work for us the people.
As University Professor, my Wage has stagnated for the last 15 years. Because of the middle class nature of this profession, there is no pressure to change this anytime soon. My plumber has a higher wage. After investing over 10 years of Education, wasted, but obviously proud of the many students I have taught and changing the world. Hope you enjoyed DU, Damo.
What about the tens of thousands of graduates that leave University every year, only to go into minimum wage jobs? The whole University business is a scam.
I have found your inflation videos so so useful to educate me in it, genuinely thank you. But agree 2025 let’s focus on something else and only get updates when it’s big changes. Looking forward to your 2025 vids and podcasts. Thanks as always Damo.
These videos genuinely taught me so much as I was very dense about inflation before. I get it though it's getting repetitive on the videos. Keep doing what you want Damo. Love the videos.
He has been on my channel in 2 videos and i have interviewed him on the podcast. But me and Sasha are good friends and i would love to have him back on.
Damien, very useful video, the follow on story is even more valuable - tightening monetary policy to restrain inflation growth? Massive Gilts issuance to fund Gov't debt together with tougher interest rate environment will weaken bond prices. Ouch; that's the opposite of what many were talking about one year ago. You can't leave inflation on the sideline it'll be a significant factor throughout 2025 and beyond.
Great video. Agree with your views on the use of CPI/CPIH and RPI (and also agree with your views the politicization of the inflation figures by all political parties).
Dear Damian I appreciate you must feel like you are in a timewarp making inflation videos...but I really appreciate hearing and watching your take on the published inflation and the BOE reports. I aplreciate they must be time consuming for you to make but it is v hard to find authentic and genuine and frankly reputable information now. So please dont stop making these types of videos as well as your financial education ones too. Many thanks x
For what it's worth I'm happy for you to drop the updates on inflation. The key thing that you have done really well here Damien is not just talk at us but "EDUCATE US". I for one am a lot more informed and a lot braver with my investment decisions because of your leading over the last couple of years. You have educated us into where we can find this data if we really are that interested in staying informed about inflation.
We've bought the same orange juice for years. Gone from £1.80 to £3.40 since 2020. Went up 40p just this week. The price of wholesale orange has gone up X5 in commodity markets ! Scary.
2% has always been a somewhat arbitrary target. What's it based on? But the government is pulling the wool over our eyes as CPI is deliberately chosen as its the least bad. CPI-H all the way, and get rid of RPI. Change in core inflation is important to observe too. Good watch though 👍
I think it will be back over 10 percent in a year or so - it didn't disappear as a big problem- it just bottomed before new highs. Let's hope you don't need to go back to discussing it
I agree with your comments on the shitslinging with numbers on inflation. I thought it was rich of one to accuse the other after they left a log in the toilet on their way out.
This labour government had an opportunity to be honest with us. Claiming Employers NI is not a tax on working people and now pushing this narrative about inflation being driven by energy rather than mortgage deals running out.
I actually really like these breakdowns despite their repetitive nature. Very easy to hear the numbers in the news and not bother diving into what‘s driving that number and also being unaware of the political games being played in the background. Would prefer you to continue with these videos but understand why you‘d prefer to stop them.
Hi D - please can I compliment you on the vision, incisiveness and clarity of your ideas. One day I hope you go and work for one of our universities. Or maybe start a new one dedicated to enhancing people freedoms via financial security and improved economic and financial knowledge. UK citizens really need this as people like Ramin Nakisa and Andrew Craig argue. Do we need an open university of public finance?
Genuine question here, I understand why high inflation = high interest rates, but how come now that inflation is expected to stay under 3% for a while. Why are the BOE reluctant to reduce rates?
I’ll have to change my ring tone to Damien saying “what about the service numbers” to fill the hole in my heart that no more inflation video is going to make 😢
The Housing part of inflation is huge, and including it shows how much raising interest rates pushes up inflation. Central banks do not want you to think about that.
Not just Brexit this has been in the works since 2008 after the financial crisis! The crazy green agenda and terrible investment in services and poor management plus the amount of people now in this country (with zero investment into infrastructure)means that we'll... We are done! There is no hope it's just going to sink and sink!
"Do you not know, my son, with how very little wisdom the world is governed?" - Pope Julius III. Although I do agree that the current lot are doing it even more than usual!
The bit I don't get, is how an increase in tax is said to be inflationary (despite it causing lower wages), yet a decrease in tax (the employees NI cut) was also said to be inflationary (because workers had more to spend). It's like the only non-inflationary thing is taxing workers more, and reducing business taxes?
Enjoyed this inflation update thanks. Can you please do a video on what options each age group has to de-risk for trump. How and what can we do if anything. I am retired so my superannuation investment option is keeping we awake at night. Thanks.
Great video and a real view of the UK and it's future. Shane you will not do each month as I think it's extremely valuable as the foundations of knowledge when making investment decisions for both new and experienced investors. Keep up the great work
I like your inflation updates because it's something not generally covered in the media and if so not described very well, your description is in depth but not over taxing on the brain, which is fantastic, I'm curious to see if BOE will keep dropping interest rates by 0.25% and I'm also curious about the effects that the budget may have, like you said it all compounds just like interest, is it gonna be slow or be like a snowball going down a hill xD
The BOE used interest rates and the cost of borrowing to attempt to adjust inflation.. if they raise interest rates to keep inflation down and the byproduct of mortgage rates going up is then included it buggers up the stat.. conversely if they reduce interest rates and housing cost go down it can over drop inflation.. hence why most economies exclude this in their measure.. the UK was particularly bad since long term fixed rates were almost unheard of.. It makes sense
True. There is also another feedback loop which nobody considers. When rates are low and landlords are seeing massive increases in the values of their portfolios they won't be bothered about getting the maximum rent (in 2009 I rented a £400000 property for £850 a month). Now that has changed they are increasing rents.
Of course inflation is continuing but honestly I don't see people radically reducing spending. In fact a woman I met the other day told me she wanted to pay for counsellor for her son. She said she just "put it on the credit card".
That’s not exactly an example of spending on unnecessary expenses. If she’s very worried about her son, that’s basically private health care in an emergency. If anything it demonstrates that mental health services are a luxury when they could be more accessible and affordable. Like dentistry now also is - many have started having longer gaps between visits and it’s affected mouth and teeth health nationally.
@@rsmith4407yes, true, that's not the best example --it's not frivolous spending but she chooses not to work and just has an Etsy shop which she says is just supplementary income.
Im new to your channel so happy with so far with what ive seen . Will you be doing😮 more on finance regarding older people ie Im nearly 61 and havent got much with regards to pension etc but would be good to get some more info on investing and ISAs etc . Thanks 👍just saw your video on ISAs and moved from my Lloyds one great advise Thanks 👍
I don't believe the CPI. I have tracked all my own spending right down to individual costs of basic groceries, and it's often higher than CPI, sometimes by a very large amount.
If I went to a work meeting and just jeered and booed when someone else was talking and then didn't answer questions put to me I'd be sacked. I don't understand how this behaviour is normal is parliament
Thanks Damien! Since it’s a finance channel can we get more content on the raging bull run that we have right now please? It’s not gonna last forever and it’s the best time to introduce new people to investing and markets
I think that most people do not understand inflation, FIAT currency, devaluing money, assets ( and their resistance to inflation), so I think an ABC of these topics could be useful for some people
Hi Damian, thanks! What are your predictions for UK inflation in the next years? If you had to fix your mortgage today would you fix it for 2, 3 or 5 years? And why?
Increasing employer costs would largely be irrelevant if we had even relatively modest growth in GDP. There are no signs that the stagnation which has existed for over a decade is changing. Whilst it may only have a modest effect it would help if Employers stopped allowing working from home - at least this would send out the right message that the UK is serious about improving growth. Sadly there now seems to be an overwhelming approach particularly by the large corporations of getting as much out of consumers as possible without any regard to the overall wellbeing of the Nation.
They have changed the way they calculate inflation. Inflation will not go down again, we are in a debt spiral and have to print money to service our debt. The outlook is not good. Just debasement of the pound and the crippling of public services.
Damo, although your decision to not do an inflation based video every month is your call, I just wanted to say that these are super valuable. We're bombarded with so much crap in the news, its near impossible to understand the true meaning to our pockets. I appreciate the effort you put in to these, they're super helpful (as are all other topics you cover!)
All I know is Tesco hash browns were £1 a pack in 2019 and they are £2.70 today.
😮 - ridiculous but probably good for health to cut back on those!
I like the inflation updates Damo, breaks it down and keeps me informed. Thats my tuppenceworth 🤣
Your tuppence only buys half penny worth now due to inflation
I do too. Maybe keep them, but quarterly updates?
@@Jalleur14325 I can line them up with the MPR reports as there is more to discuss then as we get the BOE wider view on things
@@DamienTalksMoney Tell that to the bird lady in Mary Poppins lol.
What the updates have done is to tell people to look at the detail. That’s important. Going forward, regarding inflation, maybe just concentrate on calling out the mainstream media and government on their lies. The BBC told us this time that increased energy usage is why inflation has ticked up. It’s utter ignorance at best, deceit at worst. Their journalists see a change then pick something to explain it, either randomly or to fit whatever narrative they have going at the time. Utterly irresponsible and negligent.
the reason CPI is used is because it under states real inflation to the average person this in turn allowed your employer to pay you less, the government to tax you more and the suppliers to charge you more as they dont increase their price in line with CPI they increase their prices in line with their actual cost increases. The purpose of CPI is to make you poorer.
Correct
Amazing, they purposefully decoupled house pricing in order to nickel and dime people for everything their worth. Typical.
🤢
Companies uplift by RPI and yet CPI is used for the stats….
Same as GERS does on Scotlands finances to make it look poorer for no political reason whatsoever...
CPI doesn't include housing costs to give closer reflection of inflation as the measure of the price of goods not the cost of life.
RPI and CPI are measuring different things in a different way. I wouldn't chalk it up to anything nefarious.
Almost all employers will find an excuse to give as smallest if any pay rise.
Suppliers will always increase prices based on the actual cost of goods. Inflation is average in price changes. If there is an apple shortage and prices skyrocket by 2000% but all other fruits stay the same price, inflation would be 0.1%.
Keep them coming Damien! This is what I look forward to as you break it down so well. Let’s face it we are entering an uncertain period and we need to be as best informed as possible! My 2 pence!
The schoolyard jeering in Parliament is… disgusting. They’re treating people’s lives like a game
Yeah I've always hated it but now more than ever. I wish they could just act like professionals. Like adults, even.
@@Gr0nal 😂 imagine doing 5his in a work meeting 😂😂😂😂
It's a long standing tradition and quite useful when used for good, mockery of crazy ideas etc.
The issue is our entire rulling class is full of traitors, regardless of party membership.
The billionaire non-dom press barons are to blame. The level of political discourse in the UK sinks to the lowest common denominator, aka the Daily Mail/Daily Heil. Most people haven't got a clue that judgement of an in-coming government on its handling of inflation can't be made until they've been in for at least two years. In fact most people haven't got a clue about anything.
Most people are not aware that the Bank of England adjusts the level of interest rates in an attempt to control inflation (although since Gideon Osborne changed the criteria in 2015, supposedly the BoE is "also" meant to "support" government economic policy when taking those decisions, an injected ambiguity which is almost certainly the reason why Sleepy Andy (Bailey) failed so spectacularly in his most important task in the lead-up to the 2022 spike).
These last 5 years have been relentless
To secretly make you poorer
@@BobBuilder-mq9wr yep.
Buckle up, we have 5 more. At least.
It started off with house price inflation, and most people were cheering it on, The place across the road went up 27% in 27 months without anything being done to it.
@@BobBuilder-mq9wr You will own nothing and be happy
Don’t stop these Damien, I understand your point but it’s kind of nice to hear you say it so we don’t feel alone lol like a community rant
You are just an extraordinary storyteller and trusted information provider, I wouldn’t care what topic you pick to discuss because I know it will be both relevant, interesting and entertaining. (And I say that as an American in France who sighs in longing at the idea of ISAs). Keep following your instincts. And merci.
That's my daily does of depression for the day
It's now tomorrow, ready for your next Labour chaos update? 😂
@1ForTheShieldz 🤣🤣
@1ForTheShieldz it's the system, they're all the same. Tories are the worst.
No Damo! Keep doing them… it’s a lot easier sitting here listening to you and seeing the graphs than it is for me to scroll the internet trying to find the same info! If people aren’t interested in these inflation videos, then they don’t have to watch them do they 😅
For what its worth i always enjoy your inflation updates.
Sorry Damien you need to keep doing inflation monthly review, as the media and BBC don’t want to tell the truth, and ignore CPIH entirely. Please keep doing it as the truth matters when the politicians will always spin the facts!
The BBC seem to be massive VIs (Vested Interests) with regards house prices. On a different forum we reckon all their journalists must have huge mortgages coming up for renewal soon.
The slow fuse of the ticking time bomb that’s been burning for a number of years on the UK economy is getting shorter & shorter. I really do fear what’s coming for the “lower” “normal” “average” wage earning people of which I’m one of… deeply worrying
The only thing decreasing is our standard of living.
Any comment on the chancellor's CV?
I always value your insight when it comes to inflation videos. Keep those thoughts coming even if you want to communicate them in a different way.
Politicians are the worst people to trust with the finances of the country
Their attitude to money is like a ten year old playing monopoly. They aren’t real working people.
Why does the ONS say that the rise in inflation is mainly due to gas and electricity, when their data says otherwise and the increase in the price cap can only affect future inflation, not the inflation over the last year? This is very misleading and I'm concerned the ONS is doing it for political reasons.
The ONS have strong form in this area. The pandemic a superb example of this to push a certain narrative.
Bad stats = bad for government
Blame it on something they can't control, now the bad stats don't seem so bad anymore. Government don't tell the truth.
The is one more huge reason they use CPI rather than CPIH.
The one button the BoE has is “raise interest rates”. But doing that will cause the H to raise as well further proving the action is counterproductive!
BTC...to protect your wealth
Damien, Im turning 30 next year. I've only just found your youtube channel and I've already learnt so much from you.
There are many other youtube channels that provider this similar type of advice but there is something about it coming from you that seems genuine in helping others instead of ripping them off.
Since today I've begun moving my ISA's into higher interest rate ISA providers and begun my first Stocks ISA.
I'm looking forward for the long term investing!
You and Sasha do a really good job of highlighting the bits most media miss and arguably matters more. It would be a shame not to hear your perspective on it.
You will hear my perspective on plenty of other parts of the UK finance landscape i just think that inflation story has in the main run its course now
Ha drawing these two together!? I listen to both but thought that was random. Had imagined the two Co presenting… odd couple 😂
@@wallace-bv4rl this did do a collab a couple of years ago or each others channel.
The government don’t want to raise benefits (who are not owner occupiers) by an amount that includes costs that owner occupiers only incur.
I appreciate these updates as they often highlight something I've missed. How about summarising the main elements as part of your monthly community video?
Why can't politicians just answer the question rather than making fun of each other. I'd love to hear from real, grown adults what they're doing with the country I live in
Because they're ALL "Entitled" pompous little boys playing with other people's life, so basically "Narcissistic" and have forgotten they work for us the people.
The problem is that if one side tries to be transparent, the other just uses it as a way to undermine them and win the next election.
As University Professor, my Wage has stagnated for the last 15 years. Because of the middle class nature of this profession, there is no pressure to change this anytime soon. My plumber has a higher wage. After investing over 10 years of Education, wasted, but obviously proud of the many students I have taught and changing the world. Hope you enjoyed DU, Damo.
Aye ok .
What did you expect?
Plumbers are useful and necessary.
What about the tens of thousands of graduates that leave University every year, only to go into minimum wage jobs? The whole University business is a scam.
@@mrmeldrew693 And research isn't?
@@IAmebAdger plumbing cant do without research, ask anyone in the Chartered Institute of Plumbing & Heating Engineering
Thanks for your insight these last few years, I'm sure you'll step in again when you feel the time is right...
I have found your inflation videos so so useful to educate me in it, genuinely thank you. But agree 2025 let’s focus on something else and only get updates when it’s big changes. Looking forward to your 2025 vids and podcasts. Thanks as always Damo.
I have gotten used to your monthly videos but if you don`t deem it necessary I bow to your financial wisdom
My existential dread has also made an unprecedented spike recently
These videos genuinely taught me so much as I was very dense about inflation before. I get it though it's getting repetitive on the videos. Keep doing what you want Damo. Love the videos.
Great video Damo! Sasha Yansin in his latest video is basically saying the same thing.
Would love to see you have him as a guest on your channel.
He has been on my channel in 2 videos and i have interviewed him on the podcast. But me and Sasha are good friends and i would love to have him back on.
Damien, very useful video, the follow on story is even more valuable - tightening monetary policy to restrain inflation growth? Massive Gilts issuance to fund Gov't debt together with tougher interest rate environment will weaken bond prices. Ouch; that's the opposite of what many were talking about one year ago. You can't leave inflation on the sideline it'll be a significant factor throughout 2025 and beyond.
Gotta have notifications on for Damooooo 🐐
What a legend! Thank you
Very good and complete report. You give a great comprehensive picture and most of all not a biased one from one or another political side. 🙏 Thank you
Great video. Agree with your views on the use of CPI/CPIH and RPI (and also agree with your views the politicization of the inflation figures by all political parties).
Dear Damian I appreciate you must feel like you are in a timewarp making inflation videos...but I really appreciate hearing and watching your take on the published inflation and the BOE reports.
I aplreciate they must be time consuming for you to make but it is v hard to find authentic and genuine and frankly reputable information now. So please dont stop making these types of videos as well as your financial education ones too. Many thanks x
Thanks, Damo. Another brilliant vid. That Rayner clip; another level of smugness while not answering the question.
For what it's worth I'm happy for you to drop the updates on inflation. The key thing that you have done really well here Damien is not just talk at us but "EDUCATE US". I for one am a lot more informed and a lot braver with my investment decisions because of your leading over the last couple of years. You have educated us into where we can find this data if we really are that interested in staying informed about inflation.
At this point I’ve basically stopped keeping money in fiat cash… much better to keep it in assets
That's all well and good when you don't need quick access to it
No shock. I thanks for the video for the breakdown. I know common sense expected this but your videos help me position my cash in a better place.
What annoys me is they use rpi for student loan interest but cpi for things like pensions
Cherry picking.
The great thing about standards is there are so many to choose from 🙂
Stats can be manipulated, who knew?
Thanks as always for your insights. I shall look forward to your new thoughts about financial matters away from inflation in 2025
We've bought the same orange juice for years. Gone from £1.80 to £3.40 since 2020. Went up 40p just this week. The price of wholesale orange has gone up X5 in commodity markets ! Scary.
Just found u and subbed got my 212 account brilliant thanks. Also my 3 girls too
I'ma landlord with one property. Your inflation reports have been very informative. Thank you for them.
I like the inflation videos personally, maybe you could just do them less often if it's feeling repetitive? Keep up the good work though 🔥
Yes i will do this thank you!
2% has always been a somewhat arbitrary target. What's it based on? But the government is pulling the wool over our eyes as CPI is deliberately chosen as its the least bad. CPI-H all the way, and get rid of RPI. Change in core inflation is important to observe too.
Good watch though 👍
Great video Damien!! I think though a video update every quarter for example would be good rather than none at all
Inflation is a hidden tax.
It is
Fiscal drag is an even bigger one. Even on the minimum wage a 5% pay rise won't increase your take home pay by 5%.
The wage growth spike is more of a correction for the lack of increase over many years
I think it will be back over 10 percent in a year or so - it didn't disappear as a big problem- it just bottomed before new highs. Let's hope you don't need to go back to discussing it
Im a big fan of the inflation updates, i love watching every month
I agree with your comments on the shitslinging with numbers on inflation. I thought it was rich of one to accuse the other after they left a log in the toilet on their way out.
I just watched Sasha's video on inflation, let's see what's your view.
I will go watch his now!
I watch both of them as welll xD
Sasha nailed it, total gaslighting by media/gove blaming it solely on energy price cap
Yeah similar message, bit yours a bit more moderated :D. I agree, no need for more videos about inflation.
This labour government had an opportunity to be honest with us. Claiming Employers NI is not a tax on working people and now pushing this narrative about inflation being driven by energy rather than mortgage deals running out.
weetabix has gone from having 16 biscuits to 14
I still think it’s silly that the capital component of mortgage payments isn’t included in cpih
If money printing & debt levels going up continues then so too will the inflation i feel.
All true. Unfortunately, most people are oblivious to this.
I actually really like these breakdowns despite their repetitive nature. Very easy to hear the numbers in the news and not bother diving into what‘s driving that number and also being unaware of the political games being played in the background. Would prefer you to continue with these videos but understand why you‘d prefer to stop them.
How is that gonna affect the global market?
Oh, and good job! Keep it up, Damien!!
Hi D - please can I compliment you on the vision, incisiveness and clarity of your ideas. One day I hope you go and work for one of our universities. Or maybe start a new one dedicated to enhancing people freedoms via financial security and improved economic and financial knowledge. UK citizens really need this as people like Ramin Nakisa and Andrew Craig argue. Do we need an open university of public finance?
I'm quite happy the days of cheap mortgages are well over, it hammered the savers for many years.
Genuine question here, I understand why high inflation = high interest rates, but how come now that inflation is expected to stay under 3% for a while. Why are the BOE reluctant to reduce rates?
I’ll have to change my ring tone to Damien saying “what about the service numbers” to fill the hole in my heart that no more inflation video is going to make 😢
I love coming to RUclips to see a new version of Damo's pained expression
The Housing part of inflation is huge, and including it shows how much raising interest rates pushes up inflation. Central banks do not want you to think about that.
So when do interest rates increase? Savings.
I’ve just had my savings rate decrease on all my accounts
@CodingAbroad Same. Because the BoE cut rates two weeks ago. Hopefully they increase them again at their meeting next month.
That's wishful thinking.
They can't pay the interest payments on the debt with high rates
Hi Damian, can you do a video on historical wealth inequality and where you think the future is going?
It’s almost as if the government don’t have a clue what they’re doing 🤦♂️
and brexit fucked things big time
They know, they're robbing people blind 🦯🦮
@@tombrown1515people seem to be unable to see that Brexit is costing so much,
Not just Brexit this has been in the works since 2008 after the financial crisis! The crazy green agenda and terrible investment in services and poor management plus the amount of people now in this country (with zero investment into infrastructure)means that we'll... We are done! There is no hope it's just going to sink and sink!
"Do you not know, my son, with how very little wisdom the world is governed?" - Pope Julius III. Although I do agree that the current lot are doing it even more than usual!
The bit I don't get, is how an increase in tax is said to be inflationary (despite it causing lower wages), yet a decrease in tax (the employees NI cut) was also said to be inflationary (because workers had more to spend).
It's like the only non-inflationary thing is taxing workers more, and reducing business taxes?
Enjoyed this inflation update thanks. Can you please do a video on what options each age group has to de-risk for trump. How and what can we do if anything. I am retired so my superannuation investment option is keeping we awake at night. Thanks.
Great video and a real view of the UK and it's future. Shane you will not do each month as I think it's extremely valuable as the foundations of knowledge when making investment decisions for both new and experienced investors. Keep up the great work
I like your inflation updates because it's something not generally covered in the media and if so not described very well, your description is in depth but not over taxing on the brain, which is fantastic, I'm curious to see if BOE will keep dropping interest rates by 0.25% and I'm also curious about the effects that the budget may have, like you said it all compounds just like interest, is it gonna be slow or be like a snowball going down a hill xD
Can you do an update on inflation before the FY 25/26 though so I can use the video to brow beat my boss into a payrise ?
As a 21 yo guy. I dont work (Health problems as of rn), and I never plan to. There IS no future for us.
Looking forward to a new year, great idea on leaving inflation in 24 but let’s check in 25 summer
Great video 👏🏻
The BOE used interest rates and the cost of borrowing to attempt to adjust inflation.. if they raise interest rates to keep inflation down and the byproduct of mortgage rates going up is then included it buggers up the stat.. conversely if they reduce interest rates and housing cost go down it can over drop inflation.. hence why most economies exclude this in their measure.. the UK was particularly bad since long term fixed rates were almost unheard of..
It makes sense
True. There is also another feedback loop which nobody considers. When rates are low and landlords are seeing massive increases in the values of their portfolios they won't be bothered about getting the maximum rent (in 2009 I rented a £400000 property for £850 a month). Now that has changed they are increasing rents.
Of course inflation is continuing but honestly I don't see people radically reducing spending. In fact a woman I met the other day told me she wanted to pay for counsellor for her son. She said she just "put it on the credit card".
That’s not exactly an example of spending on unnecessary expenses. If she’s very worried about her son, that’s basically private health care in an emergency. If anything it demonstrates that mental health services are a luxury when they could be more accessible and affordable. Like dentistry now also is - many have started having longer gaps between visits and it’s affected mouth and teeth health nationally.
@@rsmith4407yes, true, that's not the best example --it's not frivolous spending but she chooses not to work and just has an Etsy shop which she says is just supplementary income.
Im new to your channel so happy with so far with what ive seen . Will you be doing😮 more on finance regarding older people ie Im nearly 61 and havent got much with regards to pension etc but would be good to get some more info on investing and ISAs etc . Thanks 👍just saw your video on ISAs and moved from my Lloyds one great advise Thanks 👍
great stuff Damien I think its so important to call out how CPI is not an all encompassing inflationary metric
I can't put my finger on it but there's something about the way you talk and convey information. 👍
Strange how the inflation figures for September is the one used for benefits state pension and as usual it’s the lowest figure of the year
I don't believe the CPI. I have tracked all my own spending right down to individual costs of basic groceries, and it's often higher than CPI, sometimes by a very large amount.
You should know by now we never get answers during Prime Ministers questions. It’s a pantomime.
Really boils my piss 🤣
More like a circus, full of clowns. 🤡
One day the speaker will ask them to actually answer the question
If I went to a work meeting and just jeered and booed when someone else was talking and then didn't answer questions put to me I'd be sacked. I don't understand how this behaviour is normal is parliament
What do you think UK markets will fo with the highest energy costs on the planet and taxed to bits, I'm not going UK stocks
Thanks Damien! Since it’s a finance channel can we get more content on the raging bull run that we have right now please? It’s not gonna last forever and it’s the best time to introduce new people to investing and markets
For example, military pensions: October CPI. 1.7%! 🤬
those "politicians" are a bunch of clowns, why are they not wearing their uniforms?
I think that most people do not understand inflation, FIAT currency, devaluing money, assets ( and their resistance to inflation), so I think an ABC of these topics could be useful for some people
Inflation is rising because the government are spending too much. Looks like a bleak and stagnant future.
Hi Damian, thanks! What are your predictions for UK inflation in the next years? If you had to fix your mortgage today would you fix it for 2, 3 or 5 years? And why?
I belive over the next couple of years interest rates are likely to fall
Great episode again!
Should have had the sense to realise ages ago that rates were never gonna be lower and fixed everything for as long as possible
look at the views it will tell u everything about how valuble it is
Increasing employer costs would largely be irrelevant if we had even relatively modest growth in GDP. There are no signs that the stagnation which has existed for over a decade is changing. Whilst it may only have a modest effect it would help if Employers stopped allowing working from home - at least this would send out the right message that the UK is serious about improving growth. Sadly there now seems to be an overwhelming approach particularly by the large corporations of getting as much out of consumers as possible without any regard to the overall wellbeing of the Nation.
They have changed the way they calculate inflation. Inflation will not go down again, we are in a debt spiral and have to print money to service our debt. The outlook is not good. Just debasement of the pound and the crippling of public services.
yet average person still dont understand this and support labour party, and shout the budget did not raise their tax at all, only big corporation.