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

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

#281

Post by magicalist » Fri, Mar 24, 2023, 4:38 PM UTC

simonh wrote: post #215

magicalist wrote: post #171

Earlier quoted context omitted.

[flagged]

Increased prices and price gouging are not the same thing. If production costs are up, and they are up, then prices can go up without anyone making any more money. You have to actually look at why prices are going up. The other factor is that rising prices often mean an increased need for investment by producers. That investment capital has to come from somewhere, so what look like increased profits based on current…

> Increased prices and price gouging are not the same thing

Considering that's the explicit context of this comment thread, obviously, the difference is exactly what we're talking about here.

> I don't know enough about the food industry to be able to say which of these is happening, in which sector or country, but these are much more complex issues that the knee jerk reactions here imply.

That's what I mean about sparing a company's feelings. You have no material objections, but it's important we not use the word "gouging" for companies whose profits are rising considerably faster than inflation and it's consumers being hurt. Tone policing is the least important (and least interesting) part of this conversation.

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

#282

Post by pjc50 » Fri, Mar 24, 2023, 4:39 PM UTC

GalenErso wrote: post #10

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 very difficult to assess, but there are some clear markers: NHS waiting times have increased, and there is an unprecedented series of strikes by NHS staff some of whom are badly underpaid and all of whom have been exhausted by the pandemic.

Food bank use is clearly rising.

Royal Mail international shipping was down for at least a week due to ransomware: https://techcrunch.com/2023/02/23/royal-mail-restores-global... ; they are in general badly managed, but few delivery companies are ever loved.

Crime is not necessarily exploding, but confidence in the police is rather low. A Metropolitan police officer was jailed for 71 counts of sexual assault earlier this year, having done quite a lot to raise the crime rate all by himself.

We are not yet back to early 80s tent cities.

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

#283

Post by mftrhu » Fri, Mar 24, 2023, 4:39 PM UTC

sumitkumar wrote: post #208

Would it not make sense to have a crypto solution to the inflation problem? Can't governments initiate a crypto currency which can be only used for a basket of goods and the providers of these goods can then exchange this currency for input goods or fiat money after verifying. This crypto coin can be distributed to everyone every month/week and with a expiry date. What I understand is that inflation in high price goo…

We already have food stamps.

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

#284

Post by copymoro » Fri, Mar 24, 2023, 4:39 PM UTC

tacker2000 wrote: post #204

samhuk wrote: post #167

As a person living in the UK, I have definitely noticed a considerable rise in unit prices. One of many examples is that a loaf of my favourite bread increased from £3 to £4 recently, which was a shocker. Toilet roll prices, as ever what the news loves to talk about, has exploded, increasing by around 70% since 2020 by my anecdotal observation. A sad thought I have about inflation is the fact that it is, wittingly or…

You are talking like inflation is some conspiracy wielded by “the rich” (who are they? Are they all friends with each other and plan all their schemes together?) against the “others”. Fact is the inflation we are seeing here is caused by the after effects of Covid, the Energy price surges caused by the Ukraine war and in the special case of UK - Brexit, which has lead to huge import shortages due to increased bureauc…

what he says, is but the way in which he conveys the meaning

the rich by this point aren't any group of people, but a section of the system.

the system is structural, not-alive. he is choosing to regard the system like rungs on a ladder. each rung is a social class.

the point I'm making is that he's describing the "ladder", referring to structural/systemic aspects of our civilization, not the "persons" standing on each rung which is the meaning you chose to focus on.

our society really is arranged in tiers or classes regardless of you accept it or not (but again, this is a way to understand it; there may be others)

in the UK the so-called "rich" (to answer your question) would be people with legal noble titles.

in Smerica this class of people is not explicit. I guess the older European system (which inspired American ones) at least is explicit about the fact that the royals and their nobles are "the rich" class. I countries with continuing monarchies, like the UK, they really have a noble title and registration. they're "better than you" by legal definition because of choices their parents and older ancestors made (or were forced to make)

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

#285

Post by yourusername » Fri, Mar 24, 2023, 4:39 PM UTC

bialpio wrote: post #188

yourusername wrote: post #128

Earlier quoted context omitted.

Unilever's net profit over 2022 increased by 24.9%

It's probably better to look at the margin, I could see how the profits increased in absolute numbers as people may have switched from eating out to home-cooked food.

Profit margin increased by 230 base points that represents a 14% higher margin.

130 basepoints if you use GAAP measures so only ~7% higher margin then but clearly unilever doesn't just have higher costs but is also increasing their margin.

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

#286

Post by rm_-rf_slash » Fri, Mar 24, 2023, 4:39 PM UTC

lifty wrote: post #228

samhuk wrote: post #167

As a person living in the UK, I have definitely noticed a considerable rise in unit prices. One of many examples is that a loaf of my favourite bread increased from £3 to £4 recently, which was a shocker. Toilet roll prices, as ever what the news loves to talk about, has exploded, increasing by around 70% since 2020 by my anecdotal observation. A sad thought I have about inflation is the fact that it is, wittingly or…

Tell that to the economists, who predominantly say that inflation helps the poor, supposedly because they have loans.

Less helpful for holders of credit card debt as their costs increase alongside their APR…

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

#287

Post by sidewndr46 » Fri, Mar 24, 2023, 4:39 PM UTC

lifty wrote: post #228

samhuk wrote: post #167

As a person living in the UK, I have definitely noticed a considerable rise in unit prices. One of many examples is that a loaf of my favourite bread increased from £3 to £4 recently, which was a shocker. Toilet roll prices, as ever what the news loves to talk about, has exploded, increasing by around 70% since 2020 by my anecdotal observation. A sad thought I have about inflation is the fact that it is, wittingly or…

Tell that to the economists, who predominantly say that inflation helps the poor, supposedly because they have loans.

For some reason when I hear people saying this I just picture them as thinking of the poor as having a mortgage on their second summer home or something like that.

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

#288

Post by censor_me » Fri, Mar 24, 2023, 4:40 PM UTC

sumitkumar wrote: post #208

Would it not make sense to have a crypto solution to the inflation problem? Can't governments initiate a crypto currency which can be only used for a basket of goods and the providers of these goods can then exchange this currency for input goods or fiat money after verifying. This crypto coin can be distributed to everyone every month/week and with a expiry date. What I understand is that inflation in high price goo…

[dead]

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

#289

Post by bryanlarsen » Fri, Mar 24, 2023, 4:40 PM UTC

tacker2000 wrote: post #204

samhuk wrote: post #167

As a person living in the UK, I have definitely noticed a considerable rise in unit prices. One of many examples is that a loaf of my favourite bread increased from £3 to £4 recently, which was a shocker. Toilet roll prices, as ever what the news loves to talk about, has exploded, increasing by around 70% since 2020 by my anecdotal observation. A sad thought I have about inflation is the fact that it is, wittingly or…

You are talking like inflation is some conspiracy wielded by “the rich” (who are they? Are they all friends with each other and plan all their schemes together?) against the “others”. Fact is the inflation we are seeing here is caused by the after effects of Covid, the Energy price surges caused by the Ukraine war and in the special case of UK - Brexit, which has lead to huge import shortages due to increased bureauc…

There's a good case to be made that Putin was the richest man in the world. Nobody's sure what he's worth, but it's quite likely it was more than the $200B Arnault has. And Putin is singularly responsible for a good chunk of the inflation.

So blaming it on the rich might be appropriate, but not in the way that it's usually meant.

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

#290

Post by jlengrand » Fri, Mar 24, 2023, 4:40 PM UTC

UncleOxidant wrote: post #172

andy_ppp wrote: post #137

I cannot believe supermarkets these days, it is insane the increases in prices, I’ve seen £5 for a tube of normal toothpaste and £6 for a tiny Pizza that is sometimes available for £3. How people on modest salaries survive I don’t know. Quite often I’m starting to notice dark patterns in pricing where things you normally didn’t worry about will have randomly increased by £2-3 and you get the checkout and you’ve spent…

I saw $6.99 for a pack of 12 flour tortillas yesterday. Could not believe it. At that price I'll try making my own.

Trying to be positive in an ocean of poo, making your own tortillas is cheap, fast, kinda fun to do with kids and you can augment them for extra flavour. You can even batch prepare them in advance as long as they're not in contact with air.

Many of those are the same. Pizza dough : once a month take 30 minutes preparing 10 rolls and in the freezer.

And as a bonus, less chemicals in your system.