Inflation In The United Kingdom
The Consumer Price Index (CPI) is the official measure of inflation in consumer prices in the United Kingdom. It is also called the Harmonised Index of Consumer Prices (HICP). History The traditional measure of inflation in the UK for many years was the Retail Prices Index (RPI), which was first calculated in the early 20th century to evaluate the extent to which workers were affected by price changes during the First World War. The main index was described as the Interim Index of Retail Prices from 1947 to 1955. In January 1956, it was rebased and renamed the Index of Retail Prices. In January 1962, this was replaced by the General Index of Retail Prices, which was again rebased at that time. A further rebasing occurred in January 1987, subsequent to the issue of the first index-linked gilts. RPIX An explicit inflation target was first set in October 1992 by Chancellor of the Exchequer Norman Lamont, following the UK's departure from the Exchange Rate Mechanism. Initially, ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Uk Inflation Data
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Arithmetic Mean
In mathematics and statistics, the arithmetic mean ( ), arithmetic average, or just the ''mean'' or ''average'' is the sum of a collection of numbers divided by the count of numbers in the collection. The collection is often a set of results from an experiment, an observational study, or a Survey (statistics), survey. The term "arithmetic mean" is preferred in some contexts in mathematics and statistics because it helps to distinguish it from other types of means, such as geometric mean, geometric and harmonic mean, harmonic. Arithmetic means are also frequently used in economics, anthropology, history, and almost every other academic field to some extent. For example, per capita income is the arithmetic average of the income of a nation's Human population, population. While the arithmetic mean is often used to report central tendency, central tendencies, it is not a robust statistic: it is greatly influenced by outliers (Value (mathematics), values much larger or smaller than ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Price Indices
A price index (''plural'': "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a specific region over a defined time period. It is a statistic designed to measure how these price relatives, as a whole, differ between time periods or geographical locations, often expressed relative to a base period set at 100. Price indices serve multiple purposes. Broad indices, like the Consumer price index, reflect the economy’s general price level or cost of living, while narrower ones, such as the Producer price index, assist producers with pricing and business planning. They can also guide investment decisions by tracking price trends. Types of price indices Some widely recognized price indices include: * Consumer price index – Measures retail price changes for consumer goods and services. * Producer price index – Tracks wholesale price changes for producers. * Wholesale pri ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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1976 Sterling Crisis
The 1976 sterling crisis was a currency crisis in the United Kingdom. Inflation (at close to 25% in 1975, causing high bond yields and borrowing costs), a balance-of-payments deficit, a public-spending deficit, and the 1973 oil crisis were contributors. The origins of the crisis have been attributed to the 1972 Conservative "spend for growth" budget initiating the inflation cycle. James Callaghan's Labour government had to borrow $3.9 billion from the International Monetary Fund (IMF), with the intention of maintaining the value of sterling. At the time this was the largest loan ever to have been requested from the IMF. History Initiation of the inflationary cycle is traced to Anthony Barber's 1972 budget which was designed to return the Conservatives to power in an election expected in 1974 or 1975. This budget led to a brief period of growth known as "The Barber Boom," followed by a wage-price spiral, high inflation and currency depreciation, culminating ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Pollyanna Creep
Pollyanna Creep is a term that originated in 2004 with John Williams, a California-based economic analyst and statistician. It describes the way the U.S. government has modified the way important economic measures are calculated with the purpose of giving a more optimistic impression of economic development. This is a clear reference, in a sarcastic way, to Pollyanna's proverbial optimism. Williams and other economic analysts, such as Kevin P. Phillips, argue that such manipulations distort the perception of electors and economic factors and have ill effects on political and investment decisions. United Kingdom Concern about the manipulation of statistics also exists in the United Kingdom. For example, inflation in the price of certain essentials (such as food and fuel) is far higher than that of the published consumer price index A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Fried Chicken
Fried chicken, also called Southern fried chicken, is a dish consisting of chicken pieces that have been coated with seasoned flour or batter and pan-fried, deep fried, pressure fried, or air fried. The breading adds a crisp coating or crust to the exterior of the chicken while retaining juices in the meat. Broiler chickens are most commonly used. The first dish known to have been deep fried was fritters, which were popular in the European Middle Ages. However, the Scottish were the first to have been recorded as deep frying their chicken in fat with breadcrumbs and seasonings, as evidenced by a recipe in a 1747 cookbook by Hannah Glasse and a 1773 diary entry describing fried chicken on the Isle of Skye. The first known recipe in the US did not contain the seasonings that were in the earlier Scottish recipe. There is an English cookbook from 1736 which mentions fried chicken, the "Dictionarium Domesticum", by Nathan Bailey, where it is called "a marinade of chickens". ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Rosé
A rosé () is a type of wine that incorporates some of the wine color, color from the grape skins, but not enough to qualify it as a red wine. It may be the oldest known type of wine, as it is the most straightforward to make with the Maceration (wine), skin contact method. The pink color can range from a pale "onionskin" orange to a vivid near-purple, depending on the grape varieties used and winemaking techniques. Usually, the wine is labelled ''rosé'' in French, Portuguese, and English-speaking countries, rosado in Spanish, or rosato in Italian. There are three major ways to produce rosé wine: skin contact, ''saignée'', and Blending (alcohol production), blending. Rosé wines can be made still, Semi-sparkling wines, semi-sparkling or sparkling wine, sparkling and with a wide range of sweetness (wine), sweetness levels from highly dryness (taste), dry Provençal (wine), Provençal rosé to sweet White Zinfandels and blushes. Rosé wines are made from a wide variety of gra ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Welfare State In The United Kingdom
The welfare state of the United Kingdom began to evolve in the 1900s and early 1910s, and comprises expenditures by the government of the United Kingdom of Great Britain and Northern Ireland intended to improve health, education, employment and social security. The British system has been classified as a liberal welfare state system. History Before the official establishment of the modern welfare state, clear examples of social welfare existed to help the poor and vulnerable within British society. A key date in the welfare state's history is 1563; when Queen Elizabeth I's government encouraged the wealthier members of society to give to the poor, by passing the Poor Act 1562. The welfare state in the modern sense was anticipated by the Royal Commission into the Operation of the Poor Laws 1832 which found that the Poor Relief Act 1601 (a part of the English Poor laws) was subject to widespread abuse and promoted squalor, idleness and criminality in its recipients, compared ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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George Osborne
George Gideon Oliver Osborne (born 23 May 1971) is a British retired politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 and as First Secretary of State from 2015 to 2016 in the Cameron government. A member of the Conservative Party, he was Member of Parliament (MP) for Tatton from 2001 to 2017. The son of the Osborne & Little co-founder and baronet Peter Osborne, Osborne was born in Paddington and educated at Norland Place School, Colet Court and St Paul's School, London before studying at the University of Oxford as an undergraduate student of Magdalen College, Oxford. After working briefly as a freelancer for ''The Daily Telegraph'', he joined the Conservative Research Department in 1994 and became head of its political section. He went on to be a special adviser to Minister of Agriculture, Fisheries and Food Douglas Hogg and work for John Major at 10 Downing Street, including on Major's unsuccessful 1997 general elec ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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2010 United Kingdom General Election
The 2010 United Kingdom general election was held on Thursday 6 May 2010, to elect 650 Members of Parliament (or MPs) to the House of Commons of the United Kingdom, House of Commons. The first to be held after the minimum age for candidates was reduced from Electoral Administration Act 2006, 21 to 18, it resulted in the Brown ministry, Labour government losing its 2005 United Kingdom general election, 66-seat majority to the Shadow Cabinet of David Cameron, Conservative opposition; however, with the Conservative Party (UK), Conservatives only having 306 elected MPs, this election resulted in the first hung parliament since February 1974 United Kingdom general election, February 1974. This election marked the start of a Conservative government that would last for 14 years until its ousting in 2024 United Kingdom general election, 2024. For the leaders of all three major political parties, this was their first general election contest as party leader, something that had last been ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Conservative Party (UK)
The Conservative and Unionist Party, commonly the Conservative Party and colloquially known as the Tories, is one of the two main political parties in the United Kingdom, along with the Labour Party (UK), Labour Party. The party sits on the Centre-right politics, centre-right to Right-wing politics, right-wing of the Left–right political spectrum, left-right political spectrum. Following its defeat by Labour at the 2024 United Kingdom general election, 2024 general election it is currently the second-largest party by the number of votes cast and number of seats in the House of Commons of the United Kingdom, House of Commons; as such it has the formal parliamentary role of His Majesty's Most Loyal Opposition. It encompasses various ideological factions including One-nation conservatism, one-nation conservatives, Thatcherism, Thatcherites and Traditionalist conservatism, traditionalist conservatives. There have been 20 Conservative Prime Minister of the United Kingdom, prime minis ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |