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Thankyou Pointy. I have been waiting for the shoe to drop....

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Fudley61

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30/04/20

20:42

Post #: 44365884
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Originally posted by Pointyfigures: ↑

Been thinking about inflation and the way it is calculated.
When the ABS refer to seasonally adjusted, the way the consumer spends money is accounted for with these adjustments.
Think Christmas - more holidays, home improvements, booze, etc. The proportion of our spend changes.
THERE IS NO COVID-19 SEASONAL ADJUSTMENT.
Everyone is staying home therefore the litres of fuel purchased has plummeted. Even though fuel has fallen 6%, we are buying sweet FA.
The way we spend money is relatively fixed for inflationary calculation purposes. This is reviewed every few years from memory.
Have a think about how we are spending (and saving) money. All those things we are buying more of (proportionally) have increased.
Those we are buying much less of have fallen (fuel, travel, accommodation).
I suspect inflation is around 3% or higher.

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Thankyou Pointy. I have been waiting for the shoe to drop. Personally, I can’t be bothered posting stuff anymore.

But your contribution to the forum FAR outweighs my absence.

keep up the good work
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