Inflation

[Casino]

Dont want to tie it in with the politics stuff

Why do commentators and some politicians go on about the rate falling as though it means we will be back to the great days of a couple of years back

Surely that pre supposes prices will fall

For example, you cant have 10% rise as inflation is going to fall

So what, if prices have gone up 20%

 

What am i missing?

[mickbrown]

12 minutes ago, Casino said:

Dont want to tie it in with the politics stuff

Why do commentators and some politicians go on about the rate falling as though it means we will be back to the great days of a couple of years back

Surely that pre supposes prices will fall

For example, you cant have 10% rise as inflation is going to fall

So what, if prices have gone up 20%

 

What am i missing?

Aye.

Using your 20 and 10 percents.

Something that cost £100, then cost £120 and then £132. 

But masses will see the word 'fall' and latch onto it because they are think as pigshit.

 

[globaldiver]

16 minutes ago, Casino said:

Dont want to tie it in with the politics stuff

Why do commentators and some politicians go on about the rate falling as though it means we will be back to the great days of a couple of years back

Surely that pre supposes prices will fall

For example, you cant have 10% rise as inflation is going to fall

So what, if prices have gone up 20%

 

What am i missing?

Nothing.

Some prices will, and are, falling, but few.

[Winchester White]

Some folk hear inflation dropping equates to prices dropping, not realising that it is just the rate of which things become more expensive is reduced.

[Sweep]

13 minutes ago, mickbrown said:

 

But masses will see the word 'fall' and latch onto it because they are think as pigshit.

 

100% this

[BobyBrno]

33 minutes ago, Winchester White said:

Some folk hear inflation dropping equates to prices dropping, not realising that it is just the rate of which things become more expensive is reduced.

It’s a mixture of both. Some prices are dropping. Not necessarily back to where they were but dropping. Petrol, bread and butter are just some examples. I’m sure there are others.

[globaldiver]

50 minutes ago, mickbrown said:

Aye.

Using your 20 and 10 percents.

Something that cost £100, then cost £120 and then £132. 

But masses will see the word 'fall' and latch onto it because they are think as pigshit.

 

Not sure about the pigshit bit, but people tend to go by the headlines, for whatever reason.

[Winchester White]

4 minutes ago, BobyBrno said:

It’s a mixture of both. Some prices are dropping. Not necessarily back to where they were but dropping. Petrol, bread and butter are just some examples. I’m sure there are others.

Petrol/Diesel fluctuate at the best of times and it is dropping a bit but not massively unfortunately as that adds cost to everything we buy.

Not seen bread or butter dropping yet at Tesco, still as high as ever. 

One thing that was overlooked in the hysteria over that BoE economist who said folk need to get used to being poorer is that he also said companies should also expect lower profits in a time like this. According to folk who know more about this than I, he was talking about the supermarkets especially, so that they shouldn't expect the same margins on groceries in a time of hardship for so many.

I would love to know how their profits are faring tbh.

[only1swanny]

13 minutes ago, BobyBrno said:

It’s a mixture of both. Some prices are dropping. Not necessarily back to where they were but dropping. Petrol, bread and butter are just some examples. I’m sure there are others.

Real term salaries are dropping..

[BobyBrno]

https://www.bbc.co.uk/news/business-65531197.amp

 

“In April industry body the British Retail Consortium said there is a three to nine-month lag to see wholesale price falls reflected in shops, and promised prices would come down over the next few months.”

Again, not necessarily down to where they were but down.

[Gonk]

17 minutes ago, globaldiver said:

Not sure about the pigshit bit, but people tend to go by the headlines, for whatever reason.

There are people who wear Velcro fastening shoes, as tying shoelaces is too complicated for them, yet they have the vote and access to the internet.

[MancWanderer]

Can’t say that I’ve ever paid any notice to all this

Just balance what’s coming in vs what’s going out. If I can afford it I buy it, if I don’t, I don’t. If I’m in serious financial trouble (late 80s/early 90s) I cut back on everything but the essentials

It goes up, it goes down. Good times, bad times. I’ve learned not to stress about it any more and just deal with it. 

 

[globaldiver]

12 minutes ago, Winchester White said:

Petrol/Diesel fluctuate at the best of times and it is dropping a bit but not massively unfortunately as that adds cost to everything we buy.

Not seen bread or butter dropping yet at Tesco, still as high as ever. 

One thing that was overlooked in the hysteria over that BoE economist who said folk need to get used to being poorer is that he also said companies should also expect lower profits in a time like this. According to folk who know more about this than I, he was talking about the supermarkets especially, so that they shouldn't expect the same margins on groceries in a time of hardship for so many.

I would love to know how their profits are faring tbh.

Without looking, Tescos profits were down by 50%, they say because they are trying to help people. As a Tesco shopper, I feel that they are trying, though some price rises seem eye watering. It can certainly pay to shop around.

[globaldiver]

Just now, globaldiver said:

Without looking, Tescos profits were down by 50%, they say because they are trying to help people. As a Tesco shopper, I feel that they are trying, though some price rises seem eye watering. It can certainly pay to shop around.

From the Guardian, so must be accurate 

https://amp.theguardian.com/business/2023/apr/13/tesco-profits-halve-amid-incredibly-tough-year-for-customers

[globaldiver]

11 minutes ago, Gonk said:

There are people who wear Velcro fastening shoes, as tying shoelaces is too complicated for them, yet they have the vote and access to the internet.

😱

[Winchester White]

1 minute ago, globaldiver said:

From the Guardian, so must be accurate 

https://amp.theguardian.com/business/2023/apr/13/tesco-profits-halve-amid-incredibly-tough-year-for-customers

Fair enough, I should temper my cynical side! 😁

I notice a lot of fruit and veg are aldi price matched these days with Tesco but they are crap quality. Started getting bits and bobs from Aldi and Lidl recently especially as their 0% lager is very good and I am trying to cut down. 😬

[Tonge moor green jacket]

17 minutes ago, Winchester White said:

Petrol/Diesel fluctuate at the best of times and it is dropping a bit but not massively unfortunately as that adds cost to everything we buy.

Not seen bread or butter dropping yet at Tesco, still as high as ever. 

One thing that was overlooked in the hysteria over that BoE economist who said folk need to get used to being poorer is that he also said companies should also expect lower profits in a time like this. According to folk who know more about this than I, he was talking about the supermarkets especially, so that they shouldn't expect the same margins on groceries in a time of hardship for so many.

I would love to know how their profits are faring tbh.

This is the major concern at the moment and it has been raised in parliament- price gauging- bloody naughty.

Clearly energy prices have yet to fall, and that is expected to happen soon, but fuel for deliveries had fallen quite significantly, and the price of grain etc has fallen month on month for around 12 months.

Doesn't tie in with the high food inflation. 

 

[Tonge moor green jacket]

6 minutes ago, globaldiver said:

From the Guardian, so must be accurate 

https://amp.theguardian.com/business/2023/apr/13/tesco-profits-halve-amid-incredibly-tough-year-for-customers

May account for why some prices aren't coming down as quickly as might have been expected then.

[globaldiver]

3 minutes ago, Winchester White said:

Fair enough, I should temper my cynical side! 😁

I notice a lot of fruit and veg are aldi price matched these days with Tesco but they are crap quality. Started getting bits and bobs from Aldi and Lidl recently especially as their 0% lager is very good and I am trying to cut down. 😬

Best 0% alcoholic drink; water. We have the finest tap water!

[BobyBrno]

Sorry for the graph but here’s an indication of fuel prices. I paid 1.37 today, the same as Oct 21. It went up and it added to inflation. It’s come down so it will have an impact on reducing inflation.

 

[Tonge moor green jacket]

Diesel (last week) was reported as being cheaper than petrol on the wholesale market!

Opec recently cut production too, which should stifle any big drops.

[Winchester White]

1 minute ago, BobyBrno said:

Sorry for the graph but here’s an indication of fuel prices. I paid 1.37 today, the same as Oct 21. It went up and it added to inflation. It’s come down so it will have an impact on reducing inflation.

 

I take it that is petrol? I paid 154.9 today for diesel at Asda.

 

[royal white]

7 minutes ago, Winchester White said:

I take it that is petrol? I paid 154.9 today for diesel at Asda.

 

139.9 by mine. Shocking how much cheaper they are compared to supermarkets. 

[Winchester White]

5 minutes ago, globaldiver said:

Best 0% alcoholic drink; water. We have the finest tap water!

I agree, but I am trying to get out of the habit of a few beers watching whatever sport I fancy of a midweek evening or weekend afternoons.  Water, pop or a brew just doesn't cut it, so I tried a few low/non alcoholic beers and all were shite apart from Aldi's 0% which is so much better than the expensive big names.

 

[BobyBrno]

7 minutes ago, Winchester White said:

I take it that is petrol? I paid 154.9 today for diesel at Asda.

 

Yep. Prices vary of course. I put £10 in at one station that was charging similar at the weekend then filled up at  Sainsburys today. The chart shows average prices though so there will be variances.