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
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UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
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Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#22A lot of the inflation on food is increasingly feeling like businesses cashing in. For instance my old go to brand of breed increased by over 50% months ago.
For some reason they didn't want to cash in before?
They didn't have the pricing power/their customers didn't have the tolerance for rising prices/coordinated action and corporate consolidation means prices are going up and it doesn't matter what your choices are.
Circumstances materially changed over the last few years, and inflation is a great time for profit taking as we're seeing, which reinforces the inflation. In a competitive environment the excess profit-taking should start pulling back eventually, but in the meantime the prices are going to the moon.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#23[flagged]
Europe is also experiencing high inflation.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#24> This saw select fruit and vegetables rationed in UK supermarkets, due to shortages caused by bad weather conditions in the South of Europe and Northern Africa and many growers having to cut back due to rising costs of heating greenhouses.
Besides the obvious degradation of the energy and fertilizer markets from the war in Ukraine, the collapsed Pound is probably the biggest factor here.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#25What 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 recen…
They just decided to start price gouging now?
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#26Is 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.
Brexit plus sanctions.
War has nothing to do with that, at least not war in a classical sense. Economic or total war that some countries are involved in can be considered as a major reason.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#27Is 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
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You should strongly reconsider how you choose to interact with people on the Internet. You'll be happier for it.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#28Is 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
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Every country in Europe is feeling the effects of the war in Ukraine but the UK seems to be dealing with it the worst. There's clearly an extra layer going on there.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#29Meanwhile in Sweden the CEO of ICA, the largest supermarket chain in the country (53% of the market) said yesterday: "It is actually the consumer who controls what they are prepared to pay for a product. In the end, it is they who decide." https://omni.se/icas-vd-det-ar-kunderna-som-avgor-matpriset/...
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#30As 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?
Anecdotally, my buddy (31M) in London says he's having the time of his life. Making a lot of money at BP, parties every weekend, just moved into a nice flat with a partner. I suspect, just like in America, that if you're inside the "formal economy" (corporate job with real benefits and potential for career growth) your life is pretty great. If you're outside that (service worker, gig economy, small business owner, NEET) then things are pretty grim.