House Price Crash forum: Is Inflation Kicking Off? - House Price Crash forum

Jump to content

powered by
  • (14 Pages) +
  • 1
  • 2
  • 3
  • Last »
  • You cannot start a new topic
  • You cannot reply to this topic

Is Inflation Kicking Off? Prices rising everywhere Rate Topic: -----

#1 User is offline   InlikeFlynn 

  • HPC Regular
  • PipPipPip
  • Group: Members
  • Posts: 346
  • Joined: 09-November 10

Posted 25 February 2013 - 02:11 PM

Just had a shock at my local supermarket - sunflower oil is now £1.59 a litre. Food prices for my weekly shop seem to have kicked on up again this month after a period of relative stability. The price of diesel has risen 4p per liter to 141.7p a litre this month alone. Undoubtedly these are the first effects of the ongoing decline in sterling and there will be more to come. Anything that trades on the global market (bulk foodstuffs, oil etc.) will be hit hard. The rise is diesel is 2.9% in one month with more to come.

The inflation figure for february won't be due until the middle of next March, and will be flattered by the data "falling out" of the calculation (prices rose substantially between january and february last year and this effect will fall from the calculation). Inflation over the spring may well push the BoE in unexpected and uncomfortable directions.

#2 User is offline   rantnrave 

  • HPC Senior Veteran
  • PipPipPipPipPip
  • Group: Members
  • Posts: 4,265
  • Joined: 13-August 10

Posted 25 February 2013 - 02:16 PM

View PostInlikeFlynn, on 25 February 2013 - 02:11 PM, said:

Inflation over the spring may well push the BoE in unexpected and uncomfortable directions.

Twice the amount of QE they had pencilled in?

It does seem though that the slow motion trainwreck we have bene analysing on this site for eons is gathering momentum.

#3 User is offline   cashinmattress 

  • HPC Guru
  • PipPipPipPipPipPip
  • Group: Members
  • Posts: 7,426
  • Joined: 18-July 08

Posted 25 February 2013 - 02:19 PM

My mate used to run his motor on vegetable oil until they made that more expensive than the pump diesel.

#4 User is offline   inflating 

  • HPC Senior Veteran
  • PipPipPipPipPip
  • Group: New Members
  • Posts: 3,253
  • Joined: 11-May 11

Posted 25 February 2013 - 02:21 PM

Can there now be a wage spiral? Arguments pro and con, please.

#5 User is offline   rollover 

  • HPC Regular
  • PipPipPip
  • Group: Members
  • Posts: 385
  • Joined: 23-January 13

Posted 25 February 2013 - 02:21 PM

On the other hand analysts from Goldman Sachs calling an end to the metal’s 12-year bull run as data showed Gold slumped to a seven-month low last week as investors cut holdings. Gold is the world's oldest inflation hedge.

#6 User is online   aSecureTenant 

  • Formerly Socially Housed and 'Steed'
  • PipPipPipPipPipPipPip
  • Group: Members
  • Posts: 20,555
  • Joined: 21-May 07

Posted 25 February 2013 - 02:25 PM

Personally wouldn't touch sunflower oil with a barge pole however nice surprise in Lidl today.

250g of excellent Grahams Dairies unsalted butter down to 88p from £1.20. Special offer of course.

You need to buy on the offers and ignore the rest I'm afraid.

Now Sierra Nevada Pale Ale has risen from £1.89 in Sains/Tesco to £2.09. I only buy a few bottles in, for when my mate comes round as it is all he drinks. Its imported and so has risen a lot in price.

Lidl had cheap diced steak or something over the weekend. Some woman at the till bragging she had grabbed all that was left. Could have slapped her. :lol: Sometimes Lidl ration customers.

This post has been edited by Secure Tenant: 25 February 2013 - 02:28 PM

"Capitalism has defeated communism. It is now well on its way to defeating democracy" - David Korten

"The real tragedy is not whether lib lab or con will win but that one of them will" - Sir Harold m



#7 User is offline   blackgoose 

  • HPC Regular
  • PipPipPip
  • Group: Members
  • Posts: 814
  • Joined: 13-October 10

Posted 25 February 2013 - 02:30 PM

Recent increases will be due to the sharp drop in the pound in the last couple of months. The cost measured in dollars has been more stable.

This post has been edited by blackgoose: 25 February 2013 - 02:31 PM


#8 User is offline   Errol 

  • I live on HPC!
  • PipPipPipPipPipPipPip
  • Group: Members
  • Posts: 9,135
  • Joined: 18-August 07

Posted 25 February 2013 - 02:30 PM

View Postrollover, on 25 February 2013 - 02:21 PM, said:

On the other hand analysts from Goldman Sachs calling an end to the metal’s 12-year bull run as data showed Gold slumped to a seven-month low last week as investors cut holdings. Gold is the world's oldest inflation hedge.


Goldman long gold, then? :lol:
Want to get paid for polls? Try YouGov

#9 User is offline   pyracantha 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 1,515
  • Joined: 10-October 08

Posted 25 February 2013 - 02:38 PM

View Postcashinmattress, on 25 February 2013 - 02:19 PM, said:

My mate used to run his motor on vegetable oil until they made that more expensive than the pump diesel.


It's occurred to me there might be a deliberate policy of ensuring it's always more expensive than diesel to stop people doing this.

#10 User is offline   interestrateripoff 

  • Carry on banking.....
  • PipPipPipPipPipPipPip
  • Group: Members
  • Posts: 44,336
  • Joined: 24-June 08

Posted 25 February 2013 - 02:41 PM

View Postinflating, on 25 February 2013 - 02:21 PM, said:

Can there now be a wage spiral? Arguments pro and con, please.


Wage inflation is bad, Mystic Merv said so. This was the only inflation he was really concerned about as the proles had to eat 5h1t and like it. Inflation everywhere else was perfectly acceptable.
Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England

New digest on the credit crisis and economy Part2 Part 3

Posted Image

#11 User is offline   Take Me Back To London! 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 2,055
  • Joined: 16-November 07

Posted 25 February 2013 - 03:09 PM

View Postrollover, on 25 February 2013 - 02:21 PM, said:

On the other hand analysts from Goldman Sachs calling an end to the metal’s 12-year bull run as data showed Gold slumped to a seven-month low last week as investors cut holdings. Gold is the world's oldest inflation hedge.


Just a month ago Goldman Sachs's analyists were advising investors to go long in gold and gold went in the opposite direction.

Once again the conrtarian indictaor is flashing.





http://www.bloomberg...frontation.html

Quote

Goldman Forecasts Gold Rally Amid Debt-Ceiling Confrontation

By Glenys Sim - Jan 21, 2013 3:51 PM GMT+0100

Gold may climb over the next three months as U.S. lawmakers attempt to tackle the country’s debt ceiling and the world’s largest economy slows, Goldman Sachs Group Inc. said, advising investors to place bets on advances.

“We see current prices as a good entry point to re- establish fresh longs,” analysts Damien Courvalin and Alec Phillips wrote in a Jan. 18 report. The bank reiterated a three- month target of $1,825 an ounce, as well as a forecast for prices to weaken in the second half as the U.S. economy rebounds.

This post has been edited by Take Me Back To London!: 25 February 2013 - 03:28 PM

Bankers may well have acted as if they’ve been sitting in the casino during the boom years. But it was a state-owned casino, with governments as the croupiers, and central bankers behind the bar giving out free booze.

John Stepek

#12 User is offline   long time lurking 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 1,826
  • Joined: 18-July 09

Posted 25 February 2013 - 03:22 PM

View Postcashinmattress, on 25 February 2013 - 02:19 PM, said:

My mate used to run his motor on vegetable oil until they made that more expensive than the pump diesel.


I still do, cost co £21.50 20 lt last time I bought it from them but tesco had a 2 for 1 on there 3liter bottles just after Xmas so I stocked up on that

#13 User is online   TheCountOfNowhere 

  • I live on HPC!
  • PipPipPipPipPipPipPip
  • Group: Members
  • Posts: 10,578
  • Joined: 05-October 07

Posted 25 February 2013 - 03:25 PM

i nearly took a photo of the empty shelf of own brand washing up liquid sat next to a full shelf of fairy...that's repeated all round the store!

#14 User is offline   easy2012 

  • HPC Senior Veteran
  • PipPipPipPipPip
  • Group: New Members
  • Posts: 3,719
  • Joined: 14-September 05

Posted 25 February 2013 - 03:26 PM

View Postinflating, on 25 February 2013 - 02:21 PM, said:

Can there now be a wage spiral? Arguments pro and con, please.


You need to be more specific with your question. For the average worker who are competing with global / EU labour supplies - no.

Those who live off state/EU subsidies, indexed link pension, those who run the central bank - yes.

#15 User is offline   long time lurking 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 1,826
  • Joined: 18-July 09

Posted 25 February 2013 - 03:28 PM

View Postpyracantha, on 25 February 2013 - 02:38 PM, said:

It's occurred to me there might be a deliberate policy of ensuring it's always more expensive than diesel to stop people doing this.

It did increase in price dramatically when it become legal to run a car on it

  • (14 Pages) +
  • 1
  • 2
  • 3
  • Last »
  • You cannot start a new topic
  • You cannot reply to this topic

1 User(s) are reading this topic
0 members, 1 guests, 0 anonymous users