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Feel Poorer Than 10 Years Ago?

Times are hard in Europe, despite the stock markets having returned to pre-crash levels and reasonably optimistic sentiment around about the future, the average working person in the UK is still not feeling too cheerful. A quick glance at the table below explains why. With few exceptions, price inflation has exploded while average salaries haven’t come close to the same level of increases. It can’t be that hard to create a more accurate measure of inflations, but then I imagine there is little political will to do so.

PRICE COMPARISON 1999 – 2009
Item Price in 1999 Price in 2009 % change Source
Milk (pint) 34p 45p 32.30% ONS
Loaf of white sliced bread (800g) 51p £1.26 147% ONS
Sugar (kg) 61p 88p 44.20% ONS
Draught lager (pint) £1.93 £2.79 44.50% ONS
Cigarettes (20 king sized) £3.37 £5.39 60% ONS
Unleaded petrol per litre 63.6p 90.4p 42% Petrol Prices
House prices £73,302 £163,969 123% Halifax House Price Index & Historical House Price Data
Average salary £18,396 £20,900 13.60% ONS
Average mortgage size (new loans) £54,100 £112,000 107% Council of Mortgage Lenders
Weekly state pension £66.75 £95.25 42.70% The Pensions Advisory Service
Level of UK consumer debt £565.4 billion £1457.4 billion 158% Bank of England Statistics
Price of oil (per barrel) £8.80 £28.70 226% Price of Oil & WTRG
Price of gold (per ounce) $280 (£191) $900 (£615) 222% Digital Look
Bottle of wine £3.55 £4.18 18% Wine and Spirit Trade Association
Ford Focus (latest model) £15,500 £16,095 4% Ford
McDonald’s Big Mac £1.90 £1.99 4.70% McDonald’s
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