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UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

grocerygazette.co.uk

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Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

#11
What about grocery store profit margins?

> Bread was up 20.8%, with pasta products and couscous up 25.3%

This is unjustified. Under no circumstances could this happen unless a) price gauging, or b) supply chain is drying up.

Edit for the ignorant:

> The UK is largely self-sufficient in production of grains, producing over 100% of domestic consumption of oats and barley and over 90% of wheat. Average yields over recent decades have been broadly stable but fluctuate from year to year as a result of better or worse weather. Increasingly unpredictable and extreme weather as a result of climate change is likely to exacerbate these fluctuations. Wheat yields in 2020 were the lowest since 1981 due to of unusually bad weather. However, preliminary data indicates they have since increased in 2021.

> In meat, milk, and eggs, the UK produces roughly equivalent volume to what it consumes. In 2020 it produced 61kg of meat, 227L of milk and 172 eggs per person per year. By value, the UK is a net importer of dairy and beef. This reflects UK consumer preferences for eating higher value products, while lower value products are exported.

> The UK produces a significant proportion of its other crop needs, including around 60% of sugar beet, 70% of potatoes and 80% of oilseeds. Apart from a recent pest-related reduction in oilseeds, these proportions have remained stable over the last ten years. Climate change represents a risk to production both in terms of making conditions unsuitable for some crops and allowing new pests to proliferate but it may also benefit new types of crops.

> The UK produces over 50% of vegetables consumed domestically, but only 16% of fruit. 93% of domestic consumption of fresh vegetables was fulfilled by domestic and European production, while fruit supply is more widely spread across the EU, Africa, the Americas, and the UK.

https://www.gov.uk/government/statistics/united-kingdom-food...

Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

#13
This was predicted when Ukraine was invaded. Russia and Ukraine were the world's leading producers of the ingredients in fertilizer.

They are now no longer exporting, and many countries in the world are getting 50% or more of their calories from import. Things will get better before they get worse.

Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

#14
post #2

> Food inflation hit its highest rate since 1977 last month, having risen to 18.2% in the year to Februaury [sic] 2023. Doesn't anybody read what they write?

Maybe it's the new old way of making known to the reader that an LLM was not used, like back in the day when printed maps had minor intentional mistakes (for entirely different reasons though) !

Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

#16

Is this at least partially Brexit related? For comparison, the US has seen food go up by around 10% over the same time period, which is pretty high but also far from 18%. https://www.bls.gov/news.release/cpi.t02.htm

Brexit plus war.

Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

#18
https://en.wikipedia.org/wiki/Edict_on_Maximum_Prices

>The Edict on Maximum Prices is still the longest surviving piece of legislation from the period of the Tetrarchy. The Edict was criticized by Lactantius, a rhetorician from Nicomedia, who blamed the emperors for the inflation and told of fighting and bloodshed that erupted from price tampering.

>During the Crisis of the Third Century, Roman coinage had been greatly debased by the numerous emperors and usurpers who minted their own coins, using base metals to reduce the underlying metallic value of coins used to pay soldiers and public officials.

Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

#20

As someone who doesn't live in the UK, the impression I get from headlines is that the UK is becoming poorer by the day, the NHS has collapsed, crime is exploding, poverty is rising, most people can't afford anything anymore, the Royal Mail is hanging by a thread, and the economy is in free fall. What's the reality? In London and outside?

The reality is not good - from the outside and the inside.
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