The Inflation Problem Is Not Over.
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- Опубліковано 12 чер 2024
- The UK headline inflation rate is at its lowest point in two years, but behind these numbers, concerns around core inflation persist.
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Timestamps
00:00 - Headline
01:03 - Food
01:24 - Energy
02:54 - Service
03:39 - Wages
05:58 - Rates
07:22 - OOH
10:00 - Should I Stop?
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Keep the videos coming on topics like this, dark as they are people struggle to understand economics to be able to call politicians out on doublespeak or just out right lying.
small tangent but somewhat relevant - I was initially frustrated at brexit leave voters for not understanding what this would actually do to the country economically while believing it would actually be beneficial for it because of information being taken out of context and framed with politics but really its the politicians to blame.
I think it can only really be fixed by educating people to be able to understand these topics to understand the impact of policies and to place their vote where they actually want it. I had conversations with many leave voters who really regret voting out seeing the impacts and the promises that were made never manifest and sign the partition to revote.
I use these for updates I provide at work so will look forward to either the community posts and/or newsletter on the topic. I think your last 2 minutes sum it up though, same story over and over, meanwhile as long as you're not in financial hardship then it doesn't actually matter, and if you're just an ordinary person then there's very little you can do about it.
Really grateful for your coverage! Thanks Damien
I would like if you did a quarterly update on inflation, mainly because we need people like you to get the under the headline data out there while we have politicians talking absolute BS that world is a better place that prices still continue to go up!
I agree with this. Inflation costs are being manipulated by woolie political people. And you cut right through with the truth.
Why cant you just delete inflation? its just a made up number
Yeah me too… it really helps to explain the numbers behind the political headlines
Couldn’t have put it better myself. We need these vids Damo, whether we enjoy them or not. As well the points made by the post above, it helps people understand the reality of our economy and also to plan accordingly (if this relates to anything people might be thinking of doing).
Agree we’re probably going to hover around this level for a while anyway.
I’d rather listen to you than a politician talking shit about well they’re doing! At least I believe you. 👍👍👍
Listening to your monthly analysis of the published figures cuts straight through the 'spin', I find that invaluable, please carry on until we're out of the woods.
Damian it’s not about giving negative information, it’s about being a bloody realist and this is why people gravitate towards this channel.
I think you don't need a regular inflation update but when the government and/or media make major claims about inflation changes and their impact, a video reflecting how much truth there is in these claims would always be appreciated
agreed
I agree. Inflation should be a annual review,with perhaps quick quarterly reviews
I would prefer you kept doing it regularly as it is the highest cost for most people and you explain the nuances behind the headline figure ie. Services and wage growth. We need to know the full picture and otherwise it would take a lot of people a lot of energy to find this information, much more efficient for you to do it, if you don’t mind, thank you
💯 This is quality content and immensely helpful. Would be a real loss if it were to go.
What's the highest cost ?
Damo keep doing these! Don't worry about whether it is a positive or negative video, the facts are the facts keep reporting them
💯
I'm a viewer in the U.S. who has never been to the U.K., this type of content is very transparent and apprecoated by those of us who care about the actual data and not the lies spun by politicians to appear competent
Our politicians are world class liars. Just look at Hunts face, his mouth is saying what he wants you to believe, his eyes are saying something completely different.
Absolutely, I fully agree with you. Even the so called quality british broadsheet newspapers tend to gloss over issues now and rely more on snappy headlines than proper analysis of real data
@@MrBerry67 Which quality British newspapers are you referring to, the tory rags, like the daily mail, sun, daily express, daily telegraph, daily star and times 🤔
@@fredatlas4396 Well, he's stated that he's referring to the broadsheets. No one takes the tabloids seriously, so there was no need for you to list those. The majority in the UK now gets what it believes as reliable news from from online broadsheets, the BBC and Sky. The right leaning broadsheets you mentioned are behind a paywall, while the left leaning Guardian, BBC and Sky aren't, so I'd say most news media received by people these days is left leaning. It has a daily feel about it like this video, twisting to find the negative in everything. The news here, should have been that inflation is heading in the right direction and means (as Hunt pointed out) that this will mean that as it approaches 2% (which isn't right now), the BoE can start to 'consider' bringing down interest rates. Damien is very much acting like a left wing tabloid in his overly negative reaction to good news. He doesn't state anywhere that Conservative action has also helped to prevent wage inflation from spiralling CPI out of control. He just points out that the BoE were late to the party and it is them that control interest rates, as if that is the only lever to control inflation.
Personaly, if I read a headline that is important/interesting to me, I then go and fact check it. It doesn't matter what the source is then. This has led me to have a very low opinion of the Guardian, as it's the outlet with the most spin from the above listed.
Yes, Damien's videos are really good. For the US I like Thoughtful Money.
Continue the videos. It may not be positive but it gives us a good indication of what’s really going on, which in turn will lead us all to make more informed decisions
I rare!y ever comment but I do think you should keep us updated on inflation. We need your realism
The banks are quick enough to drop their savings rates
It's like banking is a service that has a cost.
trading212 offering 5.2% on cash savings
@@jakebest5601On cash allocated to a background money market fund*
@@JevansUK They are talking about the banks moving their interest rate on savings in response to the Bank of England's changing interest rate.
When the rate drops, they quickly reduce the rate they pay to customers; when the rate increases they take their sweet time in increasing the rate they pay to savers.
It has nothing whatsoever to do with the costs of providing a service.
Yep my 5.2 % is being dropped to 4.2% in May even though the account is fixed to September.
Rigged.
Something needs to get done to punish insurance companies for doubling prices. They are obviously in some kind of cartel.
Read the FT article entitled "The uninsurable world: what climate change is costing homeowners." It will lay out the lay of the land for the next few years. The fact that insurance companies own research reveals the future consequences of climate change, that should focus some minds in government, because if it is going to be left to the State to cover the damage, you and every taxpayer are going to be paying the cost in higher taxation, as insurers have the choice to withdraw cover. They are a business, and satisfying their shareholders' demands for dividends takes priority over dealing with the consequences caused by ignoring climate change. Plus, the downside of the spread of EVs with very expensive batteries, is that motor insurance will have to increase to cover those costs. Like everything else, it's something we can't avoid, as chickens come home to roost. If only our politicians had listened to experts...
@@CuriousCrow-mp4cxgot nothing to do with climate change, car insurance for example is going up for couple of reasons, one the extremely easy theft of cars is sky rocketing and given how expensive cars now are given the devaluation of currency so cars are 30% more expensive than 4 years ago. Then the cost the repair them is also higher given what Damien said service costs (labour) and materials (parts) same situation with housing insurance, materials labour are more expensive so insurance premiums go up. Climate change got nothing to do with it, you are commenting on a financial podcast channel and don't understand how devaluation of money from covid has caused these prices increases
Energy costs being push up with government approval is the biggest issue. Insurance is just the result of these costs. If every car garage puts in bigger bills to cover their costs, insurance goes up... Other countries have nowhere near the energy bills of the UK. Where everything is based upon the most expensive forms of energy like imported gas. Funnily enough, companies like Shell are the governments biggest donors.
@@CuriousCrow-mp4cx”Climate change”, along with the entire financial system, is a SCAM.
30% of our energy bills are green tax. Take that away cheaper than other countries.
its really nice to have a finance bro (and i use that term with the utmost respect) who appears to be of good politics and who just wants normal people to be better off.
I would appreciate a monthly update on the inflation data from you. It could just be a short 3-4 minute video which brings out the details that you consider important.
keep these kinda videos going, you tell us what the inflation is in this country, soo please keep these videos going every month!!!
I can see why you possibly don't enjoy these inflation update videos, but they are valued by your audience and provide some comfort in helping us understand why we're struggling financially.
The breadth and quality of your content is fantastic, this channel is superb amd has helped me a great deal. Thank you 👍
They haven't yet included the 50% inflation of the price of 200g Nescafe coffee. From £4 to £6 in one week!
You can prove anything with statistics, 3.4% must be just believable not reflecting true. Elections year is a year of wonders.
You don't have to buy it. If ppl dont buy, they will reduce the price.
They used to be 250g bags too
They have, this is just the aggregate, so some stuff has gone up more, others less.
What is the big problem is the Oooh costs are essentially made up and doesn't reflect the true rises in rents and mortgages
Who cares, Nescafé tastes like arse and Nestlé are a god awful company
2nd year out of last 4, zero pay rises. The two years with, were 2.5% and just under 4%. Rent and CT have gone up 18% in last 2 years alone and food 25%, not difficult to see why people are suffering.
I like these videos, I'm sick of bs people telling us lies. These informative videos are not negative. Your telling us the truth while educating us, thank you!
Giving one number as a inflation for UK is like saying "It is going to rain in UK today", accuracy and usefulness of this information is very similar in both cases.
Just signed up for your newsletter, thanks!
Same here
Love your content! You put things across in an engaging way ! Keep up the great work
Thanks Damien, you keep us up to date!
Please keep these updates going through these videos!!
This was an absolute belter 😊
Keep them coming, great job!
These videos are really useful. Thanks for taking time to go through all waffle and give us the quick run down.
I’ve in watching all your inflation videos, and I’ll keep watching them.
your videos are so informative and need to listened too, please continue with these updates
Got your point. For me you and Sasha are must videos to watch after the official number is released. Perhaps every video every Q? Or in major events? One idea: videos about how to get the most from the money or trying to beat Inflation? Or to get real value in these times. How to survive to non real income times.
Excellent report!
I personally look forward to the inflation posts you create, but then again I actually like anything you do on the channel because I know your a genuine person that’s on our level!
Yes, please keep these inflation reports coming. Good to have a trusted via outside mainstream media outlet.
Keep the updates coming - always interesting observations
In a world where the truth is constantly concealed by the people meant to be looking out for our best interests people like you are now more important than ever
Please keep it up mate your information is valuable to everyone in the UK!
Keep up the great analysis and videos with depth. Your clear and unbiased commentary is really interesting to hear.
Keep these updates coming I like, like so many do, do finding them very informative
Where food is concerned there is seasonal variation. The effect of the horrible wet spring so far will not be felt until the end of the growing season.
An of cause they don't mind a wet early spring, the question is will we get a dry spell to allow for the harvest.
The rest of the world seem to have does well through, wheat harvests are said to be breaking records, with china cancelling contracts so they can renegotiate a better price.
@@DavidKnowles0 Which crops are we talking about? Taking cocoa for example, Ghana and Ivory Coast who are the 2 main producers have had 2-3 years of catastrophic harvests.
Thank you so much for your content
Really enjoying your videos. Keep it up pal 👍🏼
I watch whatever you post! Its all interesting and helps my trading/investing.
Love these videos… superb stuff
Great stuff!
Great video. Maybe do one on inflation in Arrakis?
I haven't seen your previous videos "banging on about Core inflation" so I appreciated seeing this one. As some have suggested perhaps you could do it less often e.g. quarterly or half-yearly. Thanks for sharing your insight.
Keep em coming
Thank you for the video. Personally I find these updates very useful in video format
I quite like a video update on what is happening. Don’t find it depressing more informative. Love your videos keep up the great work!
Spot on analysis of the inflation problem and of Jeremy Hunt! Thank you. Keep it monthly please
Keep the videos coming mate.
Keep the vids on this topic coming! Very important info that needs hammering home.. Thanks for the content❤
I really like these videos, please don't stop making them.
Hey Damo, carry on with the videos they are informative. As for Dune, I struggled with the first one, think I'll give the second a wide berth
I would appreciate you continuing updates on the data. It can be shorter but i like when you put them into context
Please please keep these videos 📹 its much appreciated because we don't have enough time to do such thorough research 🙏
Your channel is the most down to earth, rip through the bullshit we have. Please continue, even if it feels like a rinse and repeat at times. Hopefully one day you'll get to say "good news this month, inflation is finally trending in the right direction for the right reasons" and your viewers who value your analysis so much will know it truly is time to celebrate.
Carry on, we need the voice of sense and honesty.
I'm new to the channel, please keep it up
People are being priced out of their own homes and then having to sell and record low prices and possibly even negative equity.
Hahah, your sign-off comment was hilarious. Cheers, from a fellow midlander😂
You're the only inflation commentator that I listen too. I now understand the headlines more because you've shown the data behind the headline. I would still follow along if the information was in the newsletter.
Continue the inflation vids just make them short and to the point 👍🏻
Maybe not every month, but every quarter could work well…besides, I think secretly most of us like your core inflation rants. 😂
Someone needs to cut a Damien inflation video with Malcolm Tucker rants, as his secret internal monologue...
I love your videos mate, keep it up
I like the updates in video form ❤
It’s useful mate maybe a short update every so often
These videos are the ones that made me find the channel, and I keep watching them because they're very useful in understanding where interest rates are going next and what's behind that. Hope you enjoyed Dune 2 as much as I did!
I really hope you continue making this type of content. For me, whenever an announcement is made about inflation or interest rates etc, I jump to your channel to see if you've covered it. I've yet to find someone who covers what is a complex issue in such an easy to understand manner. The mainstream media just can't be trusted to cut through he BS the same way you do. You're hard work is appreciated, please keep it going and thank you 👍
Well said mate 👏
I enjoy these updates. Mainly as I don't use social media, and I do read BBC articles, but often I don't go out of my way to investigate the info in depth the way you do. I'd also be happy with a community post, but thought I'd add my opinion!
Dunno dude. Appreciate you telling it how it is tbh
Video on the economy of Arrakis, please!
good breakdown
Transparent and honest analysis of the data as always Damo
It’s important you continue to look and discuss with us those figures.
Knowing the bad, helps to identify and target the good.
Optimism != Blind Fate
We need your honest and realistic viewpoint to counter all the bs Damien! Keep em coming!
I like these updates. Sure less frequently is fine but don't stop.
I like these videos, updates are useful but maybe condense into 5min however. Straight to the point
Keep doing the inflation vids, I like to watch your take, then watch Sasha and get a glimpse of what your take would be like if you had tourretes
Thanks Damo, enjoy Dune!
I've just watched Channel 4 News and some presenter in a nice suit is sitting there saying "the end is in sight for the cost of living crisis". Mate, prices are 20-50% higher, wages are still where they were in 2008, and we're in recession. No wonder this country is fucked.
You watch Channel 4 news and don't think their reporting is accurate? There's a shocker... quelle surprise 🤔🙄
What was the minimum wage worth in 2008 and what is it now? For the bulk of 2008 it was £5.52 and next month it will rise to £11.44.
the media - television and newspapers ar enow too fond of glib and glossy comments - they have forgotten what journalism actually is
@@auldfouter8661not everyone is on minimum wage. The middle earners wages are not moving.
@@auldfouter8661and what did £5 buy you in 2008 vs what it buys you today especially looking at the price of the things that someone earning minimum wage typically has to buy. Inflation is a smoke screen and is manipulated to suit a specific purpose. Make no mistake only a small section of society is better off and that’s the very rich.
Pleaase do not stop as it makes it easier to share to my elder relatives and friends. Just someone explaining the situation in a a form that allows them to fully grasp the situation and expose the government for all their lies.
Thank you and i hope you're well
I agree with many - quarterly sounds about right.
Big fan of this content!!
i prefer to be aware of yhe negative points
So grateful to you Damo. Love what you're doing and how you present it. Who would have thought that learning about finances could be interesting, easy to understand, make me smile often and regularly give me a good laugh. Big thank you from one just starting out
Keep doing what you're doing please Carol.
Your insightful 'back to basics' approach, and your drive to try and help the nation through financial education should be applauded.
#respect.
Will you do a video about new isa deals etc for April / new tax year stuff? Very new to this still but find your videos simple to understand and not overwhelming 😅
Too true, Damien, brother. Inflation is compounding, something that is hidden from consumers given inflation only relates to a y/y ratio.
Love your videos!
You are right, no need to continue with the inflation updates just so we can feel worse about our finances. You could do a piece about it when the trend reverses or there are some groundbreaking changes/developments.
Whatever you decide, looking forward to seeing the next thing. Thank you.
I tune in every month. You analyse the inflation figures with no agenda, so I don't have to!
This was a great reminder that the headline figures are not as they appear. Keep it up
always find these insightful. would be keen for more but understand if it gets a bit samey for you.
I agree with the majority of the comments: Having the unbiased, data-backed view on inflation helps us to put everything in context and gives us the opportunity to get realistic view on what’s happening. I don’t need big forecasts or promises from politicians, tell me how it is and I can think for myself. So, I highly appreciate your work!
unrelated to the video Damien but that tshirt is really nice
Dune 2 was bloody good, hope you enjoy it mate.
Hey dude, always grateful for the videos. Thanks for making them. Speaking for myself I'll watch good or bad, just dca my time into your videos.
Hope you enjoy dune 2 the first one was great second was amazing!
I think you are doing a great job and it’s not negative to explain a situation that impacts people’s lives👏
I’m looking forward to Dune 3 where they go into service inflation numbers.