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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

#811

Post by Bloating »

cool_dude85 wrote: post #497
Nifty3929 wrote: post #454

Earlier 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…

>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. Says who? Why can't the people producing stuff simply take lower profit margins instead?

For the same reason people claim to be underpaid. At some point, its not worth the investment.

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

#812

Post by mjfisher »

ptero wrote: post #478
sofixa wrote: post #441

Earlier quoted context omitted.

What has that have to do with inflation in the UK?

Most developed countries have a similar picture. This is a UK-specific chart. https://tradingeconomics.com/united-kingdom/money-supply-m2

That chart shows a net increase in M2 of about 5% for the UK, rather than multiples - the Y axis doesn't start at zero, which might be misleading at first glance.

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

#813

Post by tootie »

bombcar wrote: post #604
tootie wrote: post #592

Earlier quoted context omitted.

A lot of times, the villainy is really the collective self-interest of thousand of people in a supply chain or open market. No one is going to willingly pay more or sell for less than they can get at any step of the way. I use housing as a good example since it's been a major driver of inflation and most houses are sold peer to peer on the open market. If you're selling your house and you see comparable houses sellin…

From that comes NIMBY; everyone agrees that something should be done but nobody wants to do it. We really don't like be presented with 'we cause things too.' The house sale is a perfect example, and is something to meditate on. (One solution is 'competition' such as making sure new houses are being built, other companies can produce food, etc.)

I see a lot of millenial/gen z commenters complaining that the previous generations were able to build wealth by buying affordable homes and watching them appreciate faster than inflation. And they want in on the same deal. It's simply not possible. For one, we haven't built housing to keep pace with population growth which skews supply and demand. NIMBYs are a big reason why. Secondly, in order for a home to be a valuable investment, it must by definition become less affordable for the next generation. Otherwise, it's not increasing the wealth of the owner. The only sustainable option is to match supply to demand such that houses pace or even lag inflation which makes them no longer be a viable store of wealth and instead remain affordable and available to everyone. The Boomers got a sweet deal and realistically, no one should ever get that deal again.

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

#814

Post by slaymaker1907 »

cwkoss wrote: post #766

I think summer 2023 is likely to have more protests than 2020: - Food prices are highly correlated with societal discontent. Need bread, circuses alone insufficient. - 2024 election cycle is starting to ramp up, society will be thinking more politically. - We're having a warm spring - could be a hot year. Tempers flare more easily in higher temperatures. - Looks like we're heading into a recession. As the fed fights…

Are you referring to the UK or to the US? I'm in Utah and it has been an incredibly cold spring.

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

#815

Post by miohtama »

Bukhmanizer wrote: post #685
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 just want to point out that pretty much every natural economic condition is beneficial for the rich. The thing about money is it’s very flexible. You can hoard it in deflationary cycles, spend it on assets in inflationary cycles, grow it in economically good times and buy cheap property and goods in economically bad times.

Many, but not all: an example of unfavorable economic conditions for rich is real estate bubble burst (2008). Rich own real estate disproportionally to low and middle class.

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

#816

Post by bonadrag »

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…

Amazing that you were able to bring class divide that inflation fosters without mentioning the major responsible for it: the government and central banks.

In fact, inflation is, in its current form, a tax levied by the government on all citizens--rich and poor. You are correct that the rich can find ways to hedge some of the effects of inflation, but that's expected as the rich have way more disposable income.

I just want to know for how long people will close their eyes to these policies (green energy stimulus, self-inflicted supply chain bottlenecks, QE and bailouts to ultra rich and party donors via deposit bailout).

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

#817

Post by miohtama »

seizethecheese wrote: post #800
Bukhmanizer wrote: post #685

Earlier quoted context omitted.

I just want to point out that pretty much every natural economic condition is beneficial for the rich. The thing about money is it’s very flexible. You can hoard it in deflationary cycles, spend it on assets in inflationary cycles, grow it in economically good times and buy cheap property and goods in economically bad times.

The gap between living standard of poor and rich is much smaller than a few hundred years ago. What you claim cannot possibly be correct.

The gap was lowest in 70s, has widened since then and is now as wide in 40s

https://equalitytrust.org.uk/scale-economic-inequality-uk

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

#818

Post by makingstuffs »

DeathArrow wrote: post #805
makingstuffs wrote: post #710

Earlier quoted context omitted.

Yeah, the reality is that this will always be the case as long as the national minimum wage (rebranded as the living wage) is in no way related to inflation or the GDP of the country. As long as execs and CEOs are free to reap the benefits brought by their staff without paying any of it back this problem will continue to be exasperated. Another contributing factor in the matter is the fact that politicians seem to be…

> This gives them very little incentive to actually help people at the bottom of the totem pole Err, votes are the biggest incentive for politicians. > Is a shelf stacker in Sainsburys a high skilled job? No. Is it absolutely crucial in order for Sainsburys to have a working business? Yes. Not really, they will soon use robots. > The same is true for the cleaner in a bank. If a bank is covered in dirt and stinks peop…

Votes matter a lot less in an FPTP voting system, and the point about media division and ownership plays into the fact that people can easily be mislead into voting against their own interests.

Not sure if you are aware of the little old B word which was proven to have been based on a campaign of lies.

As for your remark about robots replacing shelf stackers and cleaners. I’ll leave that as the ill-informed and provocative comment it is.

Regarding government funding, governments spend public tax payer money, yes. Political parties receive their funding from private donors who ultimately end up expecting some kind of payback for their donation/bribe. Which ultimately comes out of the tax payer’s pocket.

This creates a cyclic system which is built to extract wealth from the bottom and middle classes in order to feed it back to the society’s richest people.

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

#819

Post by lotsofpulp »

Kon-Peki wrote: post #704
samstave wrote: post #609

Earlier quoted context omitted.

I didnt grow up poor, and I have made "tech money" my entire career - but I very often check cent/oz on products - because I dont like being cheated at that level... HOWEVER. Annecdote: I was at dinner in SF - and we were at a very nice restaurant, nice wine, food etc. My buddy was kvetching over buying this watch, which was something like $200 and was talking about how he wasnt sure if it was worth it... I looked at…

> I very often check cent/oz on products - because I dont like being cheated at that level. You have to do this in the cereal aisle! All the different-sized boxes of the same exact cereal have wildly different price-per-weight. And the largest-sized box is rarely the cheapest-per-weight! what surprised me is how expensive plain Cheerios have become. My wife explained it as if I were stupid - they are mostly whole gra…

The grocery store near me sells a bigger box of multigrain Cheerios for less than the smaller box. The smaller box is on the eye level shelf, and the bigger box is on the bottom shelf, you have to bend down to get to it.

It has been like this for years. It is not just cheaper by unit, the whole box is just straight cheaper, but I can only assume people do not want to bend down? Even the prices are clearly visible from standing position.

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

#820

Post by argentinian »

FollowingTheDao wrote: post #316
tacker2000 wrote: post #204

Earlier quoted context omitted.

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…

It is called "Greedflation". To say it is a conspiracy is true, in that corporations are conspiring against consumers to make more profit. Some articles: https://www.theguardian.com/business/2023/mar/24/greedflatio... https://www.cnbc.com/2023/01/24/greedflation-food-brands-may... https://www.theguardian.com/business/2023/mar/12/global-gree... https://www.theguardian.com/business/2023/mar/02/ecb-looking...

It's incredible, a lot of people in developed countries are thinking like argentinians now. In Argentina, the propagandist media companies that belong to politicians do everything in their hands to blame anyone for inflation, except for money printing policies dictated by politicians. And we have over 100% anual inflation.
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