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Is Inflation Kicking Off?


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I'm long Weetabix and Ribena.

50% return on my investments from earlier this year.

This isn't even a joke post. I bought loads on special offer earlier this year.

Only space limits me buying more.

Weetabix probably offers decent thermal insulation too. Ditch the Ribena though, unnecessary extravagence.

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Recently 1700 people applied for 3 full time and four part time positions at a Costa Coffee shop- I don't think that many people are going to be demanding wage rises in the near future- except those with genuinely rare skills or talents.

The salary of the Governor of the Bank of England is, of course, going up from about £300k per year to over £850k per year. Not sure what those genuinely rare skills or talents are, but they are clearly very, very rare.

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Have you tasted generic brand blackcurrant syrup :blink:

:)

The no added blackcurrant high juice cordial from Aldi is very pleasant, this from a former Ribena fan which is like sugar puffs (more sugar than puffs).

Agree with the OP that I have seen mahoosive increases in the price of supermarket staples and see a sharp upward trajectory.

Sainsburys Peso Pasta source up 26% to £1.50 a jar (£1.19 a week before) and plenty of other items up between 6-31% I think prices will settle 40% up by end if year, but like house prices going up that's a good thing right? right?

Edit: to add that I was going to start a similar thread this week but have reached my quota already for writing drivel.

Second edit: additionally unseen inflation via product shrinkage very noticeable, especially on cheeseburgers/chicken 99p mayos at McD's thinning out in the middle.

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

Same - in 2005 i was buying it for 49p a litre from Lidl. Oddly it was cheaper buying it in 1 litre bottles than bigger ones and caused raised eyebrows in the car park when i was adding 20 litres at a time. Especially since it was illegal to do so then and not report it to the tax man.

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Why is the intrest the government has to pay lower than it has ever been when the financial position we are in has never been worse?

A really bad economic outlook means many people holding Sterling wealth percieve it safer to hold it as 'near cash' in Gilts than any other sterling denominated asset.

The government is buying its own debt via the Bank of England purchasing it from third parties through QE. This supports demand for Gilts as the buyers know that they can ultimately sell it to the BoE and make a small cut for no risk.

Rule changes (ostensibly aimed at making financial institutions 'safer') regarding what reserves banks and pension funds must hold, mean more demand for Gilts from such organisations.

Basically, a combination of fear and market rigging, which is now starting to unravel slowly.

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I don't think I've drunk squash in about 35 years. What are you? Four?

When I'm having an attack of frugality, I put the coffee away and revert to hot squash[1]. Own brands are fine for this; never felt the need to splash out on Ribena.

[1] If I'm at home all day, I find myself drinking a worryingly high volume of tea or coffee.

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When I'm having an attack of frugality, I put the coffee away and revert to hot squash[1]. Own brands are fine for this; never felt the need to splash out on Ribena.

[1] If I'm at home all day, I find myself drinking a worryingly high volume of tea or coffee.

I just take one of those fizzy Vitamin C tablets from Wilko.

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Just had a shock at my local supermarket - sunflower oil is now £1.59 a litre.

When you think you can run a human on 2000 calories a day being able to run 4 humans at £1.59 a day doesn't sound bad.

Edited by gf3
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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.

Tesco Value car wash has been £2.00 for as long as I can remember. Use it about 4-5 times a year. Went in this weekend and it's now £2.50. That's a 25% increase!

M

Edited by markyh
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Nah, NOBEL award winning elite sycophant and probable goldman sachs plant Krugman and fellow printy printy cheerleader Mike Norman say Inflation is IMPOSSIBLE in an advanced economy. Productivity will always rise to offset ANY degree of money printing.

The inflation of 2006-2009 didnt actually happen. (but Krugman also denies stagflation happened in the 70s, so at least he has form in his denials)

Edited by Executive Sadman
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wage deflation all the way.

We have a reserve army of unemployed many times larger than the jobs available. Business has access to the european union labour market so we will always have a surplus of workers.

The average wage is now at 2003 levels iirc now, meanwhile cost of living is not.

There are too many zombie companies and zombie households to drive consumer growth and spread the wealth.

We either get hpc or just let the chinese come over to buy everything and rent it back to us.

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A matter for debate, but I’m not sure they even account for that. The problem is that as holdings of debt become more concentrated it becomes easier to default (through whatever means) because the non-owning majority (debtors) don’t have a problem with confiscating creditor savings.

Unfortunately for them, unless they get paid in gold, they lose out too.

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I posted this a week ago:

Popped into a Cornish Bakery with daughter who was a bit peckish after her ballet class. The very same vegetable pasties that were just increased in price few weeks ago from £2.90 (or so) to £3.50 are now quite literally half-size! They would be too small even for a 5yo. (First they offered a bottled drink for 20p with it, now drinks are (over)priced back to £1.20)

So we settled to chips from Burger King kiosk at the station, and same story - large (!) chips are now half-size from what they used to be just two weeks ago. It's now smaller than the plastic cup from water dispenser.

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colgate-fluorigard-fluoride-rinse-mint-flavour-400ml.jpg

^400mL

11105.jpg

^500mL

A case study;

"Colgate FluoriGard Fluoride Rinse", mouth wash is available 500mL, now there is a 400mL pack size.

If you google it and then choose "shopping" (from the "More" bar at the top), you can see it for yourself right now.

400mL is the new pack size at £3. I guess the 500mL is being phased out, as it is £4. The bean counters have probably calculated people are not prepared to pay £4 for mouthwash, so they have made the pack smaller.

It is nonsensical to have a 400mL pack size and a 500mL pack size. Maybe a 250mL and a 500mL, yes, as the difference is large enough.

If the big companies are doing something about inflation, are YOU>?

Edited by Notanewmember2
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colgate-fluorigard-fluoride-rinse-mint-flavour-400ml.jpg

^400mL

11105.jpg

^500mL

A case study;

"Colgate FluoriGard Fluoride Rinse", mouth wash is available 500mL, now there is a 400mL pack size.

If you google it and then choose "shopping" (from the "More" bar at the top), you can see it for yourself right now.

400mL is the new pack size at £3. I guess the 500mL is being phased out, as it is £4. The bean counters have probably calculated people are not prepared to pay £4 for mouthwash, so they have made the pack smaller.

It is nonsensical to have a 400mL pack size and a 500mL pack size. Maybe a 250mL and a 500mL, yes, as the difference is large enough.

If the big companies are doing something about inflation, are YOU>?

Umm - unless I miss my maths (help me if I've failed), isn't that a 20% reduction in size, and a 25% reduction in price, meaning customers actually paying less? So in this case, what Colgate are doing about inflation is.... Fighting it?

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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