In the US - once cheaper foods are spiraling out of control - and certain cheap foods are just missing.
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
#622I 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…
Why is no one talking about Brexit in this whole equation? Yeah world is facing the brunt, but UK more so.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#623There was 11+ Trillion injected into the economy, most of that did not got to the poor. Lets pay more attention to this cause
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#624As 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…
The corporations lobby the gov and both enrich each other. It's not a conspiracy but a well known aspect of the modern world.
It breaks democracy benefitting a few in power.
The effects of covid are actually the effects of covid policies which benefited govs and big tech and other corporation's while screwing most people. Yes, it appears that people wanted it but when you consider the censorship, behaviour modification propaganda and unconstitutional state force application to suppress people who wanted to oppose them, it's not that clear of a picture.
Then Ukraine, also something that benefits the gov, the energy/war companies and corporations, and not the people. Also heavily propagandized to push more profiteering through endless war.
No conspiracy. Just the system at work and people like you dismissing the true criticism with the same old labels. You may feel an impulse to call me fascist, racist and other customary labels soon, heh.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#625Earlier quoted context omitted.
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The rises are due to a power dynamic: the companies raising the prices can basically get away with it ("whatever the market will bear"). Why can they do this? One reason is monopoly power- monopolies must be broken up. But what else can be done (besides central bank driven demand destruction)? So instead of price controls, a more palatable solution is collective buying. This gives buyers more clout, allows them to ba…
>Large retailers have this exact role: they certainly demand and get lower prices from their suppliers. We need a non-profit version of this
This was tried a lot in the 20th century (starting in the 19th century), usually emerging from the labour movement. I think in food retail and energy it has mostly failed or simply stopped making a difference. The profit margins of food retailers are small to begin with and easily lost by being a bit less efficient.
But Europe and the UK in particular has been using a similar model pretty successfully to keep drug prices low. Some argue that costs were merely shifted over to the U.S. I think this is only partially true.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#626Earlier quoted context omitted.
His argument is that the government can do 2 things: 1. Interest-free money for businesses to launch, grow, and advance. This leads to more goods in the market and thus lower prices 2. Free money straight to the people which means more money in the market and thus, inflation, empty shelves, etc. His general point is that having interest-free money keeps existing players honest since newcomers can come in and start a…
>1. Interest-free money for businesses to launch, grow, and advance. This leads to more goods in the market and thus lower prices We tried that. It all went into real estate and stocks and gave birth to a massive scam industry involving crypto and other get rich quick schemes as the world is full of stupid people and opportunists. The average joe didn't see much trickle down to him unless he was already invested in r…
I always thought "trickle-down" economics was about giving money to businesses via tax-breaks and that money would make it's way back to the people as wages. We know this doesn't happen and companies do stock-buybacks with that money.
Here, we're discussing a different paradigm: interest-free money vs free money. The issue is that interest-free money has little to no use for individuals. They can't put that interest-free money into an existing business and reap the returns. That's why most people just use that "interest-free" money for stocks (margin trading) and even then it wasn't fully interest-free.
The fundamental issue is how to give individuals interest-free money and have them see returns. Maybe using that money toward job training, or starting incubators that find small businesses and infuse them with money, mentorship, etc.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#627Earlier quoted context omitted.
> Aside from Germany, rest of Europe is at around ~10%. That isn't true at all, the UK is about the same as the Euro area taken as a whole. > Since the UK is out of the Eu, its not possible to access the Eu domestic supply anymore and it has to wait for what remains for export The UK is absolutely capable of tapping EU supply, we've got an extensive free trade deal. I'm eating Spanish cherry tomatoes as I type! Sourc…
"European Union Inflation Rate is at 9.90%, compared to 10.00% last month and 6.20% last year. This is higher than the long term average of 2.12%." https://ycharts.com/indicators/europe_inflation_rate > The UK is absolutely capable of tapping EU supply, I don't understand what are you trying to falsify. CNBC or their news about the UK not being able to import as it used to from the Eu. "...James Walton, chief economi…
I (we?) were discussing food inflation, but generalised inflation is higher in the UK - 10.4% Vs EU of 9.9%.Not a massive difference.
You said the UK, due to Brexit:
> Since the UK is out of the Eu, its not possible to access the Eu domestic supply anymore
Which is just plain not true. Deprioritised, sure, but not unable. A lot of people take the Daily Mail seriously (including other news outlets too) when they say stuff like we can't get tomatoes. It just meant I went to the other shop across the road instead.
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#628Earlier quoted context omitted.
The lower class does suffer the most, but unfortunately it is the policies intended to help them which actually cause most of the problem. By giving money to people without producing more stuff - or even making it harder to produce the same - you MUST have inflation, rationing, or empty shelves - and often all three. The solution to allowing lower classes to have more stuff is to make it easier for everybody to produ…
https://www.epi.org/productivity-pay-gap/ shows that producing more stuff per person since 1978 hasn't fixed inflation (not graphed there), and we can afford less of it because real wages haven't kept up.
Inflation has been remarkably low since 1980 though… and that graph doesn’t mention prices. Theoretically if more is being produced then you don’t need wages to keep up to afford the same luxuries. In fact all the stats I’ve seen shown that we can and do afford a lot more these days
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#629For reference, that's a fairly average value for Europe at the moment. Not sure why the UK is being singled out. https://i.redd.it/8hbhiqhowjpa1.png
Part of the reason is UK ran out of tomatoes, peppers etc. EU didn't have the same issues.
Source: live in UK
Re: UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years
#630Earlier quoted context omitted.
This seems to come from the same place as the argument of "trickle down economics". Yea no, I've seen similar things done in Japan with abenomics (with one of the targeted goal even being more inflation; without achieving it) and studies show it doesn't work. Those spending never reaches the "lower classes", and seldom even reach places where it would have the potential to increase productivity. It's a tired, old arg…
His argument is that the government can do 2 things: 1. Interest-free money for businesses to launch, grow, and advance. This leads to more goods in the market and thus lower prices 2. Free money straight to the people which means more money in the market and thus, inflation, empty shelves, etc. His general point is that having interest-free money keeps existing players honest since newcomers can come in and start a…
The government can also buy things (like infrastructure) and employ people to provide public services, which directly injects money into the economy by paying it to the people who do that work.
The current UK government has not been doing much of this.