Tuesday, Oct 23, 2007
Official 16% inflation on food at Tesco - CPI just keeps falling! CPI figures are a con and a national scandal: WHERE ARE THE PRESS ON THIS?
Telegraph: Supermarkets 'raise food bill by £750 a year'
In recent weeks, some of the most dramatic signs of food inflation have hit supermarket shelves.
According to price comparison website mySupermarket.com, the three biggest supermarkets – Tesco, Asda and Sainsbury's – are charging their shoppers 12 per cent more on average for a basket of 25 different goods compared with last year.
Tesco has increased its prices by 16 per cent in the past year. A kilo of peas has gone up from £1.19 to £1.79 at Tesco, a dozen eggs at Sainsbury's has leapt from £1.62 to £2.35, while Asda has increased the price of its orange juice from 73 pence a litre to 88 pence.
Posted by tyrellcorporation @ 09:07 AM (989 views) Add Comment
13 Comments
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1. japanese uncle said...
No wonder Tesco is supplying 10% discount vouchers to Club card holders, obviously suffering some setback in sales. May the Market Force be with you.
2. cornishman said...
This is going to become more mainstream as we go into the winter - just like HPC is. Perhaps the problem is that the things bought from supermarkets in the CPI include DVDs and clothes - which would dilute the rises in staple foods if the weightings were fiddled enough. I shop at Tesco and 16% increase for basic food seems accurate. But given that it's 16% increase on £4,000 or £5,000 expenditure each year as opposed to a 5% decrease on a DVD player I might spend £200 on every 5 years, I agree - it's a scandal. But the Telegraph article is a start.
3. financial planner said...
"The Office of National Statistics published detailed figures yesterday which showed that butter had increased by 18 per cent in the past month, while milk had leapt by 12 per cent." SAY WHAAAT? Did you say 'the past MONTH"??????? I said to the National Conveyancers' Congress, in September that the editor of The Grocer had suggested 30% rises in groceries to the end of the year. Their response was laughter. Who's having the last laugh? HA HA
4. tyrellcorporation said...
That's funny, I bought some butter last week and it had indeed gone up from about 58p to 80p in a stroke - your figures seem to explain this.
5. David Smith's Sub Prime. . . said...
Tyrell, Tyrell....
Now, you should know this, food isn't included in the CPI, nor is petrol, or clothes, or books, or newspapers...
Or indeed anything of necessity people have to buy!
6. su said...
Has anyone been keeping an eye on the German shops i.e. Lidl & Aldi. Their food is normally cheaper than Tescos et al. I wonder if their price increases are lower.
7. mrmickey said...
Problem with the UK is that the supermarkets now control the food supply. Who's to say they aren't creating artificial shortages to maximize profits. On the other side of the argument I can see the government blaming the supermarkets for rising prices in order to head off any blame to themselves regarding their money printing antics.
8. dbnazz1 said...
Excellent information. the more that acn be done to expose the government inflation con, the better. i have corresponded with a couple of unions on this same matter to canvass there opinion. they also are waking up to this con and are looking at industrial action.
9. planning4acrash said...
Good point about the Unions, workers on paltry wages will be asking for a raise when they see what they will percieve as profit taking on the shop floor.
10. Icarus said...
With all this inflation in the pipeline how can the house market soothsayers keep telling us that interest rates will soon be heading south?
11. Albertini Albertino said...
I think I might evolve so that I'm able to eat DVD players.
12. Icarus said...
People have carefully designed the 'basket' of 25 different goods as a fair representation of the cost of supermarket food, but when this looks bad Tesco can just turn round and say the basket is 'small', 'arbitrary' and 'unrepresentative'....and the hard-working, intrepid hack lets them get away with it.
13. shipbuilder said...
Has anyone started mass action (letter campaign to the papers, petitions etc.) to force the fiddled CPI issue? The press are just ignoring it, yet it's the number 1 factor when it comes to deciding IRs, which affect EVERYONE. It's time to start something - a decent website highlighting the basket changes, or inflation now if it were measured using 1970s methods etc. Is there anything out there? Call Watchdog?