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Food Inflation - Getting Nasty

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You know how you keep reading taht inflation is 'going down' or 'stable' but you can't shake the feeling that you are getting less for your money each month?

This transscript of an earnings call last June give you some insight into what goes on.........(if quite funny as well)

from: Wall Street analysts. Some applauded the move, upgrading the stock from "Earnest" to "Sneaky", while other Wall Street analysts found the whole thing confusing.

Minyanville obtained a transcript from a portion of that previous analyst call.

Analyst: So let me see if I understand this. The price of your cereal is going up?

General Mills Spokesperson: That's correct.

Analyst: But the price per box is actually going down?

General Mills Spokesperson: Correct.

Analyst: So then how is the price going up?

General Mills Spokesperson: Because we're making the box smaller.

Analyst: Ok, but you just said the price of each box is going to be less.

General Mills Spokesperson: Yes, that's true.

Analyst: So then you're actually lowering prices.

General Mills Spokesperson: No, we're raising prices.

Analyst: How?

General Mills Spokesperson: Look, you're an analyst, you work with numbers.

Analyst: Right. Ok. I got it.

General Mills Spokesperson: Next question.

Analyst: Uh, actually, I don't get it. How can you raise the price by lowering the price?

General Mills Spokesperson: Because we're decreasing the size of the box.

Analyst: Ok, but you're charging less for each box.

General Mills Spokesperson: Yes. Because we're decreasing the size.

Analyst: Ah, I get it. So then the price is really the same, you're just making the box smaller which makes the price look lower.

General Mills Spokesperson: No, no, no! Listen. We're raising the price of our cereal.

Analyst: But -

General Mills Spokesperson: Shut up! Now listen, we're raising the price of our cereal.

Analyst: (Silence).

General Mills Spokesperson: Say it.

Analyst: We're raising the price of our cereal.

General Mills Spokesperson: Good. We're raising the price of our cereal... while simultaneously making the box smaller. Go on, say it.

Analyst: While simultaneously making the box smaller...

General Mills Spokesperson: But... and this is the important part... but we're raising the price more than we're decreasing the size of the box... go on...

Analyst: But we're raising the price more than we're decreasing the size of the box.

General Mills Spokesperson: So...

Analyst: So...

General Mills Spokesperson: That...

Analyst: That...

General Mills Spokesperson: Come on...

Analyst: Come -

General Mills Spokesperson: No, I mean, come on and follow the thought. So that...

Analyst: Oh. So that...

General Mills Spokesperson: The...

Analyst: The... price is lower?

General Mills Spokesperson: No! So that the customer...

Analyst: So that the customer...

General Mills Spokesperson: Will.

Analyst: Will.

General Mills Spokesperson: Oh good Lord. So that the customer will think the price has gone down when it's really gone up!

Analyst: Oh.

General Mills Spokesperson: See? Price increase. Smaller box. Larger price increase than smaller box.

Analyst: Right. I still don't get it.

General Mills Spokesperson: You know what? Just forget it.

Analyst: I'm going to have to downgrade your stock, you know.

General Mills Spokesperson: Good. Good. You do that.

Analyst: I will.

General Mills Spokesperson: I don't even want you to rate our stock positive.

Analyst: Good, because I won't.

General Mills Spokesperson: It would be an insult to the company for you to rate it positive.

Analyst: I'm downgrading your stock to "Mean

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Guest UK Debt Slave
You know how you keep reading taht inflation is 'going down' or 'stable' but you can't shake the feeling that you are getting less for your money each month?

This transscript of an earnings call last June give you some insight into what goes on.........(if quite funny as well)

from: http://www.minyanville.com/articles/index.php?a=15275

General Mills' Sneak Attack General Mills (GIS), the second-largest cereal maker in the U.S., reported second-quarter profit rose 1.3% thanks to a successful (albeit sneaky) pass-through of higher wheat costs.

:lol::lol::lol:

Funny enough I was discussing the shrinking size of chocolate bars today with a colleague. Very convenient isn't it? particularly if these things are added to the CPI basket. Price is the same but you get less for your money.......which is of course conveniently omitted from the stats.

Just check out the size of things like Snickers and Mars bars these days. Like.......where has the fekkn chocolate gone?

Edited by UK Debt Slave

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Guest Daddy Bear
:lol::lol::lol:

Funny enough I was discussing the shrinking size of chocolate bars today with a colleague. Very convenient isn't it? particularly if these things are added to the CPI basket. Price is the same but you get less for your money.......which is of course conveniently omitted from the stats.

Just check out the size of things like Snickers and Mars bars these days. Like.......where has the fekkn chocolate gone?

remember when you could buy.......

24 x 330ml bottles of 5% lager e.g. Becks for £9.99

then......

18 x 330ml bottles of 5% lager e.g. Becks for £9.99

then.....

18 x 275ml bottles of 5% lager e.g. Becks for £9.99

The other day it was ....

18 x 275ml bottles of 5% lager e.g. Becks for £11.99

slowly slowly catchee monkey

Inflation - it will get you all in the end.

Get into assets asap

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Guest UK Debt Slave
remember when you could buy.......

24 x 330ml bottles of 5% lager e.g. Becks for £9.99

then......

18 x 330ml bottles of 5% lager e.g. Becks for £9.99

then.....

18 x 275ml bottles of 5% lager e.g. Becks for £9.99

The other day it was ....

18 x 275ml bottles of 5% lager e.g. Becks for £11.99

slowly slowly catchee monkey

Inflation - it will get you all in the end.

Get into assets asap

And home brewing! :rolleyes:

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Notice the 3 for 2 offers, bugger all saving.

The smaller packets buy two off them and pay LESS than the 'big value' pack.

One supermarket chain is up to these tricks big time, I bought 4x24 weetabix boxs to go on holiday, cheaper than 2x48.

Shops are taking the peas!

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remember when you could buy.......

24 x 330ml bottles of 5% lager e.g. Becks for £9.99

........./.........

Inflation - it will get you all in the end.

Get into assets asap

ok ;)

fra-gayant-gold-beer.jpg

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Notice the 3 for 2 offers, bugger all saving.

The smaller packets buy two off them and pay LESS than the 'big value' pack.

One supermarket chain is up to these tricks big time, I bought 4x24 weetabix boxs to go on holiday, cheaper than 2x48.

Shops are taking the peas!

Today I am mostly eating Weetabix. 96 Weetabix! Christ! How long are you going on holiday to outer Mongolia for?

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Today I am mostly eating Weetabix. 96 Weetabix! Christ! How long are you going on holiday to outer Mongolia for?

2 children and me. 6 a day for 14 days = 84. I hadnt worked it out. I need that many!

You had me worried for a minute, I could have built a weetabix folly instead of eating them!

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Seen the same with teabags - 2 x 50 boxes cost less than 1 x 100 box... good mental maths practice (not the teabags obviously) working out the costs of different weights and number of dishwasher tablets....

Mental maths practice being operative word. How many buy family value packs without checking?

I think is getting close to misrepresentation at the moment, my personal experience.

Also a lot of people do genuinely struggle with maths. Some are plain lazy though.

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2 children and me. 6 a day for 14 days = 84. I hadnt worked it out. I need that many!

You had me worried for a minute, I could have built a weetabix folly instead of eating them!

:lol:

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Notice the 3 for 2 offers, bugger all saving.

The smaller packets buy two off them and pay LESS than the 'big value' pack.

One supermarket chain is up to these tricks big time, I bought 4x24 weetabix boxs to go on holiday, cheaper than 2x48.

Shops are taking the peas!

Tesco mint imperials -

0.45p a couple of years ago.

0.89p last month

1.29 this month - increase masked with a 3 for 2 quid offer.

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2009 Toffee Crisp (on the left), and one from 1970's. :angry:

How things have changed!

TC012.jpg

:lol:

Eh bah gum (in a yorkshire accent)

I rememeber when wagon wheels were this big (hold out hands to size of real wagon wheel)

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2 children and me. 6 a day for 14 days = 84. I hadnt worked it out. I need that many!

You had me worried for a minute, I could have built a weetabix folly instead of eating them!

That would be pointless... remember it's not the Weetabox folly that's worth money, it's the ground it stands on.

You could rebuild the weetabix folly for a fraction of the value of the completed weetabix folly.

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That would be pointless... remember it's not the Weetabox folly that's worth money, it's the ground it stands on.

You could rebuild the weetabix folly for a fraction of the value of the completed weetabix folly.

You property ramper :angry: LOL

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errortgy.jpg

they're not tricking me that easy

(this is genuine BTW, taken from sainsburys newbury park)

Jeez

They'll get their first cut from the stupid/busy ones. (although your example must be a mistake, surely)

Then we all get it. By graduation.

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Notice the 3 for 2 offers, bugger all saving.

The smaller packets buy two off them and pay LESS than the 'big value' pack.

One supermarket chain is up to these tricks big time, I bought 4x24 weetabix boxs to go on holiday, cheaper than 2x48.

Shops are taking the peas!

Try the ones in Lidl in the big boxes.

My son eats 6 or 9 weetabix a day and has done for years so it was getting expensive. He is also very fussy and wont eat anything but the real mccoy but the Lidl ones are exactly the same and much cheaper (not the small very cheap ones though - they're inedible)

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remember when you could buy.......

24 x 330ml bottles of 5% lager e.g. Becks for £9.99

then......

18 x 330ml bottles of 5% lager e.g. Becks for £9.99

then.....

18 x 275ml bottles of 5% lager e.g. Becks for £9.99

The other day it was ....

18 x 275ml bottles of 5% lager e.g. Becks for £11.99

slowly slowly catchee monkey

Inflation - it will get you all in the end.

Get into assets asap

FFS, you dont have half a fertile imagination. Change the facts to make the story, surely not :rolleyes:

Becks always been 275ml as far back as i can remember

Small linky, see date of review 2001!

http://www.bottledbeer.co.uk/index.html?beerid=1018

Edited by Unknown

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Try the ones in Lidl in the big boxes.

My son eats 6 or 9 weetabix a day and has done for years so it was getting expensive. He is also very fussy and wont eat anything but the real mccoy but the Lidl ones are exactly the same and much cheaper (not the small very cheap ones though - they're inedible)

Cheers ---me brainwashed----

I meant the supermarket own brand ones, which I still call weetabix.

I still call them weetabix even though they are Tesco own brand.

I was trying not to mention any stores I shop in. Thats all, I'm sure Tesco dont do any dodgy 2-3 offers or any family value paks that are more expensive thant the smaller packs.

They are a reputable company and they are trying to save us all money. I'm sure they said it in their adverts.

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This transscript of an earnings call last June give you some insight into what goes on.........(if quite funny as well)

You cannot be serious! What kind of analyst is that?

/me recollects his mother explaining all about price-rises-by-making-it-smaller. Must've been 40 years ago.

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Guest Parry aka GOD

Best thing to do is buy in bulk from wholesalers. I know this is a bit more tricky in the UK than here becuase you need a Makro card or CostCo card, try and get one.

I buy all long life stuff in bulk now.

Washing powder, soap, shampoo, pasta, noodles, UHT milk, snacks for the kids, freezer stuff, conrnflakes, tea, pepper, salt, sauces . . . . everything but vegetables and fresh meat.

Spent a small amount on tupperware and the like to store the stuff but it cut the shopping bill by around 30%, perhaps a little more.

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Best thing to do is buy in bulk from wholesalers. I know this is a bit more tricky in the UK than here becuase you need a Makro card or CostCo card, try and get one.

I buy all long life stuff in bulk now.

Washing powder, soap, shampoo, pasta, noodles, UHT milk, snacks for the kids, freezer stuff, conrnflakes, tea, pepper, salt, sauces . . . . everything but vegetables and fresh meat.

Spent a small amount on tupperware and the like to store the stuff but it cut the shopping bill by around 30%, perhaps a little more.

Very good advise. ;) UHT milk is really rather good, use it regularly now.

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