UK food price inflation hit 16.2% in October – cost of food basics surging • Hacker News Board

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#91

Post by ml_basics » Sun, Nov 20, 2022, 4:38 PM UTC

themihai wrote: post #45

CommanderData wrote: post #11

Earlier quoted context omitted.

Brexit has caused immigration from non-EU countries to increase. According to the government's own statistics we've seen massive increases from countries like India despite the anti-immigration rhetoric displayed by the Tories. We've also got a partnership with India that helps fill in the gaps. Not to mention the record study visa's issued to India. "India first again. I’m delighted that Indian nationals were issued…

I think that has always been part of the plan. The issue with EU was that the "immigrants" were acually citizens of the union which means the EU guaranteed them the same rights as british nationals. There was also the issue that some EU countries(i.e Italy) were giving italian/EU citizenship to fresh immigrants from Africa so that they can travel to the UK. For some reasons a big part of the UK didn't like that for o…

> There was also the issue that some EU countries(i.e Italy) were giving italian/EU citizenship to fresh immigrants from Africa so that they can travel to the UK.

Source for this please? As far as I understood it is extremely difficult for such people to get Italian citizenship and had never heard of this as an issue

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#92

Post by blibble » Sun, Nov 20, 2022, 4:38 PM UTC

Mikeb85 wrote: post #73

racktash wrote: post #25

I genuinely fear for the UK. It's going to be a very different country in ten years, and I fear it will be a weaker, poorer and more divided one. I don't know for sure what the main cause of our current problems is, but I know that it's not a single issue. Brexit, Covid-19 and the war with Russia – not one of these issues alone is the cause of our problems. My hope for the country rests in the fact that it still has…

No you're right, the UK is done. Little to no industry left, they were a nation of bankers and multinationals that exploited their former colonies. But it's not because of Brexit, COVID or Russia. It's because they never adapted and the rich in their country cared more about maintaining status than improving the country. Look at France and Germany: industry, tech, lots of "producing" businesses thrive. Paris has even…

> Paris has even overtaken London in finance

citation please?

in terms of financial centres: NYC is first, followed by London (and they swap places every so often)

down at number 15 or so is Paris

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#93

Post by [deleted] » Sun, Nov 20, 2022, 4:39 PM UTC

Mikeb85 wrote: post #73

racktash wrote: post #25

I genuinely fear for the UK. It's going to be a very different country in ten years, and I fear it will be a weaker, poorer and more divided one. I don't know for sure what the main cause of our current problems is, but I know that it's not a single issue. Brexit, Covid-19 and the war with Russia – not one of these issues alone is the cause of our problems. My hope for the country rests in the fact that it still has…

No you're right, the UK is done. Little to no industry left, they were a nation of bankers and multinationals that exploited their former colonies. But it's not because of Brexit, COVID or Russia. It's because they never adapted and the rich in their country cared more about maintaining status than improving the country. Look at France and Germany: industry, tech, lots of "producing" businesses thrive. Paris has even…

[deleted]

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#94

Post by Barrin92 » Sun, Nov 20, 2022, 4:39 PM UTC

rayiner wrote: post #63

kergonath wrote: post #51

Earlier quoted context omitted.

It will be ok in the long term. It has the resources to overcome its current issues (most of them self-inflicted). However, the next decade or two might be quite difficult. To be fair, there is some justice in it. You (collectively, as a country, not you personally) cannot keep voting for the same failed ideologies and then complain when the consequences come. This needs to be the end of Toryism as it currently exist…

Blaming “Toryism” is pretty odd. You think the economic problems affecting the UK started in the last decade? To me this seems to be the product of Blair-era Labour, which gutted the country by shipping jobs and industrial capacity to Eastern Europe and China. Populist nationalism is rising throughout the western world. It’s a reaction to the failings of globalist liberalism, not the cause of those problems.

It's a legacy of both Toryism and Blairism which are marginally different versions of the same ideology. Since the 80s UK labor productivity has declined to a level 30% lower than in France or Germany.

Blaming the decline of industrial capacity is correct, blaming globalism is wrong-headed. Continental European economies that have buckled the trend of deindustrialization have done so precisely because they are competitive on global markets.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#95

Post by blibble » Sun, Nov 20, 2022, 4:39 PM UTC

recuter wrote: post #90

the_mitsuhiko wrote: post #3

I’m quite curious how this will end in the UK. Regardless of how much Brexit has to do with this, I think the lack of actual Brexit opportunities and the contribution it has to core inflation is at one point going to change the political landscape.

Proposed Scottish independence is 12 months away. https://en.wikipedia.org/wiki/Proposed_second_Scottish_indep... > In July 2022, the Scottish Greens announced that, if a referendum were blocked, they would fight the next general election as a referendum instead General elections are 25 months away. Labour is up 30 points in the polls or something like that. Brexit probably didn't help the UK economy but the economic…

> Proposed Scottish independence is 12 months away.

the SNP have been saying this since the first vote in 2014

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#96

Post by VBprogrammer » Sun, Nov 20, 2022, 4:40 PM UTC

blibble wrote: post #92

Mikeb85 wrote: post #73

Earlier quoted context omitted.

No you're right, the UK is done. Little to no industry left, they were a nation of bankers and multinationals that exploited their former colonies. But it's not because of Brexit, COVID or Russia. It's because they never adapted and the rich in their country cared more about maintaining status than improving the country. Look at France and Germany: industry, tech, lots of "producing" businesses thrive. Paris has even…

> Paris has even overtaken London in finance citation please? in terms of financial centres: NYC is first, followed by London (and they swap places every so often) down at number 15 or so is Paris

I believe this is reference to the fact that the French stock exchange is now larger than the London Stock exchange.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#97

Post by O__________O » Sun, Nov 20, 2022, 4:40 PM UTC

IMTDb wrote: post #49

racktash wrote: post #25

I genuinely fear for the UK. It's going to be a very different country in ten years, and I fear it will be a weaker, poorer and more divided one. I don't know for sure what the main cause of our current problems is, but I know that it's not a single issue. Brexit, Covid-19 and the war with Russia – not one of these issues alone is the cause of our problems. My hope for the country rests in the fact that it still has…

> I know that it's not a single issue. Brexit, Covid-19 and the war with Russia – not one of these issues alone is the cause of our problems. Only one of these issue is UK specific tho; so either your fears extend to the rest of Europe and/or the western world, or you can pinpoint the cause of your anxiety.

Impact of Covid was likely specific though, since it’s my understanding per capita that UK spent significantly more money on Covid than other European countries in part because they have spent significantly less per capita on healthcare for at least the last decade.

Source:

https://www.ft.com/content/f752a1ad-4a23-408f-a549-4909974c6...

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#98

Post by iso1631 » Sun, Nov 20, 2022, 4:40 PM UTC

rjsw wrote: post #5

the_mitsuhiko wrote: post #3

I’m quite curious how this will end in the UK. Regardless of how much Brexit has to do with this, I think the lack of actual Brexit opportunities and the contribution it has to core inflation is at one point going to change the political landscape.

Brexit has removed one way to keep wages down - import more people. I don't think that the central bank solution of putting up interest rates to reduce the number of jobs is going to help, people still need to eat.

Brexit has removed one way for ambitious young people to escape an island which takes the entire economic output of workers, taxes it more than any other group, funnels that tax money to pensioners and funnels what's left to landlords

You can't simply up sticks and go to work in Paris or Amsterdam or Vienna anymore. That birthright was stolen.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#99

Post by HDThoreaun » Sun, Nov 20, 2022, 4:40 PM UTC

bambataa wrote: post #79

the_mitsuhiko wrote: post #3

I’m quite curious how this will end in the UK. Regardless of how much Brexit has to do with this, I think the lack of actual Brexit opportunities and the contribution it has to core inflation is at one point going to change the political landscape.

I’m very skeptical that Brexit’s negative consequences will ever be so unambiguous that people admit them. There will always be some non-Brexit excuse. Equally, remainers are too keen to blame everything on Brexit. Reading the UK personal finance subreddit is really sobering. Most people’s idea of a high salary (even in good industries) is less than a mediocre junior dev salary in the US. I feel extremely fortunate t…

There are effectively no non-American corporations competing with FAANGs on salary. Not at any real scale.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#100

Post by vladvasiliu » Sun, Nov 20, 2022, 4:40 PM UTC

hn_throwaway_99 wrote: post #75

IMTDb wrote: post #49

Earlier quoted context omitted.

> I know that it's not a single issue. Brexit, Covid-19 and the war with Russia – not one of these issues alone is the cause of our problems. Only one of these issue is UK specific tho; so either your fears extend to the rest of Europe and/or the western world, or you can pinpoint the cause of your anxiety.

Exactly. All of Europe, and the world really, has had to deal with the pain (both economic and in lives) of Covid and the war in Ukraine. But the severity of UK's problems are solely of their own making and are pretty much entirely due to Brexit, and the fallout from Brexit that caused by a string of ill-prepared "leaders". That said, one reason I'm hopeful about the UK is that, compared to US politics, there is much…

I'm not familiar with the details of UK's issues, but I doubt that the subject at hand, food price inflation, can really be put on the back of Brexit.

Pretty much all the Euro Area (of which the UK was not a part of) sees similar numbers. According to [0], it was at 15.5% in October, from 13.3 in September.

https://tradingeconomics.com/euro-area/food-inflation