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Reactions as The Express fail to grasp the basics of inflation

Probably best to leave it to the experts, eh?

Jack Peat by Jack Peat
2023-07-20 12:14
in Media, News
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The Express struggled to wrap its head around inflation this morning, much to the amusement of people on social media.

Inflation eased by more than expected to its lowest level for 15 months in a sign that price rises may finally be slowing down.

The Office for National Statistics (ONS) said Consumer Prices Index inflation was 7.9 per cent in June, down from 8.7 per cent in May and its lowest rate since March 2022.

Most economists had expected the rate of inflation to fall to 8.2 per cent in June.

The ONS said falling fuel prices was the biggest driver behind the drop, while food price inflation also pared back to 17.3 per cent from 18.7 per cent in May, though still painfully high.

ONS chief economist Grant Fitzner said: “Inflation slowed substantially to its lowest annual rate since March 2022, driven by price drops for motor fuels. Meanwhile, core inflation also fell back after hitting a 30-year high in May.

“Food price inflation eased slightly this month, although it remains at very high levels.”

Splashing the news on its front page this morning, The Express said prices “must drop now” that inflation has eased.

Unfortunately, as the video above demonstrates, that’s not quite how it works.

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Tory Daily Express failing primary school maths test this morning!

Inflation has fallen to 7.9% which means that 'prices' have gone UP.
They continue to go UP just slightly less quickly.
Food inflation is 14.9%
Maybe my online maths lessons https://t.co/EO8lwRzGs7 could help? pic.twitter.com/vyp57n9C9v

— Carol Vorderman (@carolvorders) July 20, 2023

Express editor: Has anyone googled what 'inflation' means?
Journalist: Nah! We're all good. pic.twitter.com/eiCvyvqO38

— The Poke (@ThePoke) July 20, 2023

Daily Express editor attempting to lose weight by increasing his food intake at a slightly lower rate than before pic.twitter.com/hXulKqyl8T

— James Felton (@JimMFelton) July 20, 2023

When inflation falls price rises decelerate, but prices still go up.

I think you’re getting confused with ‘deflation’ here @Daily_Express

Oh dear….

And these prats criticise the left! pic.twitter.com/uYVAS4PV9d

— Aaron Bastani (@AaronBastani) July 19, 2023

Dear Express readers.

You can inflate a balloon really fast,
You can inflate it quite slowly.
It still gets bigger.

As long as you are inflating it, it doesn't get smaller.

To shrink it, you have to DEFLATE it.
You are buying a paper that does not understand this pic.twitter.com/a3B0SFpokp

— John West 🕯💙🇺🇦 (@JohnWest_JAWS) July 19, 2023

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