Inflation up by 0.1 percentage point, real wages down by 1%

RPI sent out to the great big spreadsheet in the sky.

The ONS has announced this month's inflation statistics:

The Consumer Prices Index (CPI) grew by 2.8% in the year to February 2013, up from 2.7% in January 2013. The change in the rate follows four consecutive months when it stood at 2.7%.

This is the first month without RPI as a headline statistic; following its decision to choose consistency over accuracy, RPI is no longer a designated "National Statistic". Its annual growth is still reported, however, and it has fallen from 3.3 to 3.2 per cent between January and February.

The new replacement for RPI, RPIJ (which is calculated using the same data but a different, and more accurate, formula), showed the same change, dropping 0.1 percentage point, to 2.6 per cent.

The ONS has introduced a second new measure of inflation, CPIH, which aims to include the housing costs of owner-occupiers – something historically lacking from the CPI. It's currently experimental, but with the housing costs weighted at 12 per cent of the total index, it could well show a more realistic measure of the cost of living for the average Briton.

For all of the last seven years, CPIH has actually been lower than CPI:

(The green line shows inflation in the cost of housing). That's a surprising statistic, but may come from the fact that the measure for the cost of owner occupied housing is "rental equivalence":

Rental equivalence uses the rent paid for an equivalent house as a proxy for the costs faced by an owner occupier. In other words this answers the question “how much would I have to pay in rent to live in a home like mine?” for an owner occupier.

Obviously, if you are paying rent, you are probably aware that it's not quite as simple as asserting that the value of owning a house is no more or less than paying rent on the same house. Nonetheless, valuing the monthly "cost" of living in a house you own is notoriously tricky, and this is one of the most accepted ways of doing so. It will be a measure that is worth keeping an eye on.

Of course, the most important measure to pair inflation with is wage growth. And there, the news remains unfortunate. Regular earnings grew just 1.3 per cent in the last year, meaning that real wages continue to shrink at an alarming rate. That's a trend which shows no sign of abating, and it is the biggest point in favour of the hard-money inflation hawks. We are all getting poorer, and have been for a while.

A house, probably owner occupied. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Let's face it: supporting Spurs is basically a form of charity

Now, for my biggest donation yet . . .

I gazed in awe at the new stadium, the future home of Spurs, wondering where my treasures will go. It is going to be one of the architectural wonders of the modern world (football stadia division), yet at the same time it seems ancient, archaic, a Roman ruin, very much like an amphitheatre I once saw in Croatia. It’s at the stage in a new construction when you can see all the bones and none of the flesh, with huge tiers soaring up into the sky. You can’t tell if it’s going or coming, a past perfect ruin or a perfect future model.

It has been so annoying at White Hart Lane this past year or so, having to walk round walkways and under awnings and dodge fences and hoardings, losing all sense of direction. Millions of pounds were being poured into what appeared to be a hole in the ground. The new stadium will replace part of one end of the present one, which was built in 1898. It has been hard not to be unaware of what’s going on, continually asking ourselves, as we take our seats: did the earth move for you?

Now, at long last, you can see what will be there, when it emerges from the scaffolding in another year. Awesome, of course. And, har, har, it will hold more people than Arsenal’s new home by 1,000 (61,000, as opposed to the puny Emirates, with only 60,000). At each home game, I am thinking about the future, wondering how my treasures will fare: will they be happy there?

No, I don’t mean Harry Kane, Danny Rose and Kyle Walker – local as well as national treasures. Not many Prem teams these days can boast quite as many English persons in their ranks. I mean my treasures, stuff wot I have been collecting these past 50 years.

About ten years ago, I went to a shareholders’ meeting at White Hart Lane when the embryonic plans for the new stadium were being announced. I stood up when questions were called for and asked the chairman, Daniel Levy, about having a museum in the new stadium. I told him that Man United had made £1m the previous year from their museum. Surely Spurs should make room for one in the brave new mega-stadium – to show off our long and proud history, delight the fans and all those interested in football history and make a few bob.

He mumbled something – fluent enough, as he did go to Cambridge – but gave nothing away, like the PM caught at Prime Minister’s Questions with an unexpected question.

But now it is going to happen. The people who are designing the museum are coming from Manchester to look at my treasures. They asked for a list but I said, “No chance.” I must have 2,000 items of Spurs memorabilia. I could be dead by the time I finish listing them. They’ll have to see them, in the flesh, and then they’ll be free to take away whatever they might consider worth having in the new museum.

I’m awfully kind that way, partly because I have always looked on supporting Spurs as a form of charity. You don’t expect any reward. Nor could you expect a great deal of pleasure, these past few decades, and certainly not the other day at Liverpool when they were shite. But you do want to help them, poor things.

I have been downsizing since my wife died, and since we sold our Loweswater house, and I’m now clearing out some of my treasures. I’ve donated a very rare Wordsworth book to Dove Cottage, five letters from Beatrix Potter to the Armitt Library in Ambleside, and handwritten Beatles lyrics to the British Library. If Beckham and I don’t get a knighthood in the next honours list, I will be spitting.

My Spurs stuff includes programmes going back to 1910, plus recent stuff like the Opus book, that monster publication, about the size of a black cab. Limited editions cost £8,000 a copy in 2007. I got mine free, as I did the introduction and loaned them photographs. I will be glad to get rid of it. It’s blocking the light in my room.

Perhaps, depending on what they want, and they might take nothing, I will ask for a small pourboire in return. Two free tickets in the new stadium. For life. Or longer . . . 

Hunter Davies is a journalist, broadcaster and profilic author perhaps best known for writing about the Beatles. He is an ardent Tottenham fan and writes a regular column on football for the New Statesman.

This article first appeared in the 16 February 2017 issue of the New Statesman, The New Times