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Thread: Inflation ahoy!

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    Now with added sobriety Rave's Avatar
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    Inflation ahoy!

    The MPC cut interest rates to 5.5% today....despite the (IMO false) CPI measure of inflation remaining at 2.1%, I.E. slightly above their target.

    Personally, looking at my own measure of inflation, all the foods that I buy, like potatoes, meat, marge/butter, flour, eggs, vegetables etc. etc. have increased by 20-50% in the last year. Petrol and diesel are up 15-20%. I feel like a bloody idiot for voting for a 4.6% pay increase now.

    If your staple diet is LCD TVs, MP3 players, and clothes from Primark, then it looks like you're O.K. If you like eating food though, then prepare for your spending power to be drastically eroded. Looks like inflation is here to stay.

    I might pop down to Lidl tomorrow and buy a couple of hundred quid's worth of tinned food.

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    Kirstie Allsopp Theo's Avatar
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    Re: Inflation ahoy!

    The Scotch Broth is quite nice

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    Re: Inflation ahoy!

    Prefer the Beef Broth myself. Heinz that is. I wouldn't shop at Lidl, I might be working class, but I'm not a pikey.


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    Senior Member kickstart 1's Avatar
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    Re: Inflation ahoy!

    You would be better looking for BOGOF's

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    Banhammer in peace PeterB kalniel's Avatar
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    Re: Inflation ahoy!

    Quote Originally Posted by kickstart 1 View Post
    You would be better looking for BOGOF's
    Yeah, they're worth even more with inflation

    Inflation's good, means house prices aren't really as ridiculous as they look

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    Seething Cauldron of Hatred TheAnimus's Avatar
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    Re: Inflation ahoy!

    Quote Originally Posted by kalniel View Post
    Inflation's good, means house prices aren't really as ridiculous as they look
    And good because that way everyone can give more money to Gordon Brown, which he desperately needs to pay for wars, PPP schemes, and giving contracts to Accenture and the like (who on a completely un-releated matter donated quite a few hundread thousand as usual to the political campagine..... no correlation of course).

    But without lots of inflation we might not all be paying 40% income tax. What a shame that would be.
    throw new ArgumentException (String, String, Exception)

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    780 nanometres redlight's Avatar
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    Re: Inflation ahoy!

    Ching Ching thats Asda price
    Inflation or
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    Mostly Me Lucio's Avatar
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    Re: Inflation ahoy!

    Unfortunately Rave's right on this one, everyday items have inflated by a long way. Just comparing my typical shop in Tesco from the start of the year to my most recent one shows a jump from £80 to £100 and we tend to purchase similar shopping each time...

    I think the worst part of all of this is that this hike in the cost of basic goods has been combined with low interest rate credit and a highly competative luxury goods market means that it's never been more tempting to get yourself into debt for those one off purchases.

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    Re: Inflation ahoy!

    There's the other factors as well that have affected food prices as well. Those floods have had knock-on repercussions such as animal feed going up, in turn putting up meat prices. As fuel has gone up, so has the cost of moving all this food around. Whilst this doesn't account for all of the price increases, I do think that it has skewed the numbers a bit.

    P.S. I know nothing and this is just my opinion; so feel free to say it's all bullpoop!

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    Asking silly questions menthel's Avatar
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    Re: Inflation ahoy!

    Has the price on tin foil incresed too?

    Not around too often!

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    Goron goron Kumagoro's Avatar
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    Re: Inflation ahoy!

    Well house price wise I think it wont make a difference the slide is happening already
    and was happening before northern rock. The scaremongering has done the trick
    and people are more cautious. Even at 5.75% the interest is very low looking back
    over the past 30 years. I cant see people suddenly thinking it will be ok even if they drop it to 5%. The media have hopefully scared the people enough for it to keep
    falling.

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    Senior Member mcmiller's Avatar
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    Re: Inflation ahoy!

    Quote Originally Posted by Gerrard View Post
    There's the other factors as well that have affected food prices as well. Those floods have had knock-on repercussions such as animal feed going up, in turn putting up meat prices. As fuel has gone up, so has the cost of moving all this food around. Whilst this doesn't account for all of the price increases, I do think that it has skewed the numbers a bit.

    P.S. I know nothing and this is just my opinion; so feel free to say it's all bullpoop!
    actually they are the reasons that food prices have gone up apart from the flood part which is bullpoop, the reason animal feed has gone up is because alot of it gets turned into bio-fuel strangely enough

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    Re: Inflation ahoy!

    I'm fairly ok, get most of my food from my gf's staff shop where she gets stuff like ready meals for pennies as it's nearly out of date (as in goes that day or the next) and I just freeze it.

    My last proper weekly shop that she got me cost me under £5
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    I do like a bit of hot crumpet

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    Senior Member JPreston's Avatar
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    Re: Inflation ahoy!

    I'm an Aldi man myself. Check the website, their weekly specials are often awesome, I've got a 1500x microscope and a wi-fi media streamer/radio in recent weeks. Plus they are excellent for food, proper continental stuff it is.

    To those seriously claiming ~20% price inflation at Tesco (other supermarkets are available), that is flat out fiction, if that were even close to being true we would have slumped into some kind of feudal economy based on the barter system by now.

    I still have almost no understanding of economics but I like the idea of inflation as opposed to a house-price fall. If the my house is over-priced and must fall in real terms, then I'd rather it held it's nominal value and sterling itself dropped, because that way Rave's rent goes up and the value of his deposit falls alongside it
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    Re: Inflation ahoy!

    Don't panic, just make sure you go out to the shops and buy lots of carp for xmas and get into debt, everything will be fine.
    Humans, the only animal stupid enough to pay to live on the planet Earth.

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    Senior Member mcmiller's Avatar
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    Re: Inflation ahoy!

    Quote Originally Posted by JPreston View Post

    To those seriously claiming ~20% price inflation at Tesco (other supermarkets are available), that is flat out fiction, if that were even close to being true we would have slumped into some kind of feudal economy based on the barter system by now.
    actually your wrong, i work in a purchasing department and work alongside buyers and alot of the companys are asking for a 10-20% price increase on their products and the buyers are excepting them, the company isnt but thats a different matter, obviously not all of that is past onto the consumer
    Last edited by mcmiller; 08-12-2007 at 09:46 PM.

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