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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

#641

Post by AviationAtom »

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…

I think the current situation makes a convenient argument for a class war running amok.

I think fewer folks are willing to talk about what lockdowns did to the supply chain.

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

#642

Post by moffkalast »

JL-Akrasia wrote: post #623

There was 11+ Trillion injected into the economy, most of that did not got to the poor. Lets pay more attention to this cause

Are we talking worldwide there? How is that number even possible, that's like half the US's GDP and almost four times UK's.

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

#643

Post by ocbyc »

ulfw wrote: post #569
Tryk wrote: post #311

Earlier quoted context omitted.

Consider the comparison between Norway and Sweden, two extremely similar countries in almost all respects. Food inflation in Sweden is 22.1% over 12-month [0] Food inflation in Norway is 8.8% over 12-months [1] Obviously someone is making money hand-over-fist from this 12.7% discrepancy. Comments like the one above are really disruptive to any constructive conversations. It is not a conspiracy. The comment above is (…

A lot of that came from increasing energy prices. Norway is an energy producer, Sweden is an energy consumer.

Yes, we need cheaper energy. Nuclear is a good option. Many drawbacks of previous gen reactors have been solved.

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

#644

Post by simonh »

AJ007 wrote: post #196
Tyrek wrote: post #138

Earlier quoted context omitted.

gouging is an incredibly unhelpful context in a macroeconomic sense. In cases of shorter term scarcity (e.g. toilet paper during early covid), you can have instances of gouging. But over a longer-term period where prices are calibrating to demand/supply dynamics, price increases simply reflect the shifting balance between supply and demand. Should we be concerned about why there are shifts in demand/supply? Sure.(In…

In the US, M2 increased 70% in 2 years. Of course prices are going up. Anything less than a 70% increase means companies have a ways to go to catch up.

The contention was that the rich always want high inflation to stiff the poor. I’m just pointing out that’s not berm the case for, I said 20 years, but it’s actually been 30.

Yes we have high inflation now, but that’s just been a plain old cockup. The massive inflation reduction act stimulus for example.

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

#645

Post by ambicapter »

prox wrote: post #516
louwrentius wrote: post #500

Earlier quoted context omitted.

Why so convoluted. Just tax the rich (companies) properly. The resources and money is available. The current government chooses not to allocate it properly. What is happening in the UK is to me 100% the result of the current Conservative Party and their policies.

Tax the rich and they go somewhere else (see recent discussions about the wealth tax in France)

What is the negative outcome of this?

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

#646

Post by drewcoo »

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…

Ok, I'm with you so far. But I think there's more to it.

What happens with those classes during deflation?

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

#647

Post by xwdv »

danso wrote: post #369
xwdv wrote: post #347

Given that there’s an obesity epidemic in the United States, we would benefit long term from such high food inflation IMO. It will force people to reach for cheaper, healthier options, or simply go without food and use up their fat stores. The poorest are often the most obese here.

Huh? Isn't cheaper food often the unhealthiest food? In Chicago, using the McDonalds app [0] I can get a large latte and 2 bacon and egg biscuits for just $5. That's a ready-to-eat meal with a ton of calories. You could match that value in healthy foods by buying in bulk, but then you'd have to include costs of freezer space and time for prep. [0] $4 for a bacon & egg biscuit, $1 more for buy-1-get-1-free, and the Mc…

I could build that meal for a little over $2 without all the crap and preservatives McDonalds pumps into their food.

Cheap food isn’t unhealthy. Rice, vegetables, chicken, it’s all cheap. People just aren’t used to calculating these costs.

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

#648

Post by Arrath »

bombcar wrote: post #585
WalterBright wrote: post #483

Earlier quoted context omitted.

They could eat less, though, and would be healthier for it.

It's likely possible that the lack of self-control that is sometimes related to overeating correlates with lack of self-control in other areas such as saving money or avoiding debt. But that's not popular to talk about; nobody likes hearing about personal responsibility anymore.

It can also be a learned reaction due to past experience. Shortage or hungry times resulting in an instinct to overeat when food is available to act as a buffer should bad times come again.

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

#649

Post by Arrath »

baremetal wrote: post #291
killjoywashere wrote: post #75

Earlier quoted context omitted.

Historically, food supply doesn't drive anti-trust. It drives revolutions in the street.

In 1906, Alfred Henry Lewis stated, “There are only nine meals between mankind and anarchy.”

Should deliveries stop, the stocks inside modern superstores might hold out a bit longer than 9 meals, but not much longer.

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

#650

Post by drewcoo »

Nifty3929 wrote: post #454
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…

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…

> The lower class does suffer the most, but unfortunately it is the policies intended to help them

I defy you to find any policies in capitalist countries that are intended mainly to "help the poor." Even the liberals' beloved FDR claimed he was just trying to save capitalism with his social programs.

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