A quick course in Labour Maths.

We have a strange situation in the UK at the moment we have two Chancellors and no prime minister. Never before have we had this situation where the person in No. 10 Downing Street thinks he is the Chancellor and so does the man at No. 11. The most amazing thing is that even with two they still have no idea about mathematics.

Inflation is, according to one of them or is it both, 2.4%. But hang on how is this calculated.
Food and petrol up over 5%, gas and electricity 15%, now council tax 4% even plants in the garden centre are going up. I have tried to work out how the calculation has been done.
Here is what has probably been used.

5% for food divide by 12 months equals .41% plus 15% for gas and electricity divide by 12 equals 1.25% then add the council tax increase of 4% divide by 12 equals .33% so far we have 1.99% inflation divide that by 2 chancellors and we actually have inflation at only 0.995%. Now 2.4 times .995 is 2.4% so there we are inflation is 2.4% just like they tell us! Isn' it ?

Hold on I hear you shout you can't divide the annual percentage increase by 12 because then its not the annual increase and besides none of you calculations make sense.
I know that, but then I am not the one believing the two chancellors.