The New York Times asked yesterday whether Americans with a car in the driveway, a flat-screen television and a computer with an Internet connection can be described as “poor”.
In the United States, material goods – televisions, computers and cars – are at their most affordable in ten years, all having steadily dropped in price since 2005.
However, the cost of items that have traditionally helped pull Americans out of poverty – education, childcare and healthcare – have become far more expensive. Families’ everyday expenses also remain under strain from a steady increase in the cost of food and little change in the price of housing.
What would the same analysis of the cost of living look like in the UK?
We created a UK version of the chart in the New York Times’ story, using real prices calculated from the British consumer price index. The story was pretty similar:
Today, I gave a brief presentation – based on our previous stories – on the performance of London schools to the excellent Centre for London. Some slides are a little mysterious without my burbling over the top, but I hope it’s understandable enough.
For the past two years, the Financial Times has had exclusive access to the National Pupil Database, which provides anonymous exam performance data for every individual secondary school pupil in England.
Using this detailed data, we have compiled an alternative set of statistics to the traditional measures, which are now set to be reassessed. Read more
How much do parents value a safe environment, green spaces and a good education for their children? Such things are priceless – except that, of course, they are not. The best things in life may be free, but buying a house in the vicinity of the best things in life is expensive.
Economic researchers use house prices like a movie jewel-thief uses an aerosol spray. The aerosol isn’t important by itself, but it reveals the otherwise invisible laser beams that will trigger the alarm. The house prices aren’t necessarily of much direct interest, but indirectly they reveal our willingness to pay for anything from a neighbourhood free of known sex offenders to the more familiar example of a popular school. Read more