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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

#401

Post by 2b3a51 »

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…

"[snip]...endless blue-collar UK worker union strikes, riots, protests, etc"

Ummm... nothing like the 70s/80s (I'm old).

Seriously I think that the younger people in the UK are showing immense stoicism and forbearance.

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

#402

Post by EasyTiger_ »

908B64B197 wrote: post #82
noelsusman wrote: post #12

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

It feels Europe is becoming increasingly poor and unsafe, and the situation in the UK has worsened quite a bit since the start of Brexit. Anecdotally, seems there's a lot of British and European expats here in the Valley and they don't seem too keen on returning. We've been getting a lot of international applicants (but work from home was supposed to mean Europeans could avoid moving to the "dangerous" US but work fo…

You're correct, a lot of people in the UK want to leave

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

#403

Post by cs702 »

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…

> In an inflationary economy, the winners are rich who have valuable assets whose value skyrocket - think real estate, businesses, etc.

Actually, it's the opposite that is happening, because central banks have aggressively raised interest rates to bring inflation under control.

When rates rise, the net present value of every long-term cash-earning asset declines, and those individuals and businesses (including banks) that borrowed too much in relation to the declining value of their assets, can and will suffer large losses.

It's not a coincidence that stock markets are down, businesses are cutting costs, office buildings everywhere are starting to file for bankruptcy protection, mismanaged banks are now in financial distress, venture capital firms and their investors are facing the prospect of large losses, and so on.

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

#404

Post by 0xffff2 »

dfxm12 wrote: post #362
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…

pass down wholesale price increases, etc. I think it is very important to note that when it comes to grocery price increases, even if suppliers are raising their prices (and this isn't always the case), groceries stores aren't just passing down wholesale price increases, they're raising prices even further. For grocery stores, this isn't an issue with (unqualified) "inflation", it's an issue of price gouging. https:/…

If you want to credibly make that claim, you're going to need a much better source than the Daily Mail.

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

#405

Post by peyton »

dfxm12 wrote: post #362
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…

pass down wholesale price increases, etc. I think it is very important to note that when it comes to grocery price increases, even if suppliers are raising their prices (and this isn't always the case), groceries stores aren't just passing down wholesale price increases, they're raising prices even further. For grocery stores, this isn't an issue with (unqualified) "inflation", it's an issue of price gouging. https:/…

These are like 1–2% margin businesses. How much gouging could they be doing?

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

#406

Post by spraveenitpro »

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…

[dead]

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

#407

Post by uejfiweun »

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…

Paid $5.50 for a freaking bag of flaming hot cheetos yesderday. It's insane.

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

#408

Post by swarnie »

Veen wrote: post #234
kaanski wrote: post #198

Earlier quoted context omitted.

In general there seems to be a weird zeitgeist of negative exceptionalism in the UK at the moment. Not sure why but generally journos seem to write about issues like they are only hitting the UK when a simple google search shows they aren’t. It does come across like a weird concerted effort to paint the UK as collapsing since leaving the EU. The majority of journos seem to be able to write only negatively about UK cu…

> In general there seems to be a weird zeitgeist of negative exceptionalism in the UK at the moment. Especially on Hacker News. I tend to avoid UK-based posts on here because the content is fairly predictable: the UK is going to shit and Brexit is to blame, repeated ad nauseam in the absence of any evidence that it's true. If I wanted thoughtless UK doom mongering, I'd read the Guardian or the NYT.

Its also the reason i avoid almost all UK subreddits.

If i needed a teenager to verbally doom scroll me i'd talk to my extended family.

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

#409

Post by anonymouskimmer »

elevenoh4 wrote: post #346
anonymouskimmer wrote: post #335

Earlier quoted context omitted.

Unless people who can afford it are hoarding groceries an increasing monetary base shouldn't be affecting grocery prices. Only a decrease in supply versus demand, or increase costs of production, should be increasing grocery prices, if market manipulations aren't happening.

>Unless people who can afford it are hoarding groceries an increasing monetary base shouldn't be affecting grocery prices you don't get it money is worth less when there's more of it. especially 40% more of it. all the inputs to your groceries (labour, energy, materials, transport etc.) thus nominally cost more when inputs cost more, your groceries cost more

I actually do get it. An excess of money doesn't automatically make things cost more. An excess of demand with (more purchases), or for (higher prices), that money does. The demand excess has to start somewhere.
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