The Telegraph's Real Cost of Living Index
Think back to mid-2008 and the Telegraph launches its Real Cost of Living Index. This alternative to the CPI or RPI is designed to better show what the 'average family' or indeed the 'hard-working family' is experiencing of price rises.Well apparently their cost of living is falling by 4.8% per year. Bizarrely a few weeks' ago when it was down by 4.3% on the year the Telegraph was of the opinion that it's not as representative as 'food prices'.
But outside of Telegraph hackdom we should rejoice at this news. The cost of living for hard working families, dare I say the 'coping class', is falling by 4.8% per year. If the error in the measurement of the CPI/RPI is matched by one in the GDP deflatior This means far from falling this year, personal incomes are in fact rising.
Labels: Telegraph
posted by Matthew @ 4/07/2009 08:11:00 PM
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