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mathschoc

Storm gathering? Prices going up

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With Typhoo, Marmite and Apple having a price hike (Apple have increased one of their products by £500 cheeky sods) all announced in a very short amount of time, I was wondering what everyone's views are. Cost of goods go up, recession looming? House prices come crashing down in the next few months? Am I being far too optimistic!

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Many people are already servicing home, car and credit card debts that make up close to 100% of their income. No savings but huge debts.

Housing benefit letters going into the letterboxes, but a new car sitting on the drive.

I'm just waiting for a million loaned cars to be taken away, this time sub-prime will most likely be 4X4.

 

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Prices going up is just the exchange rate, of course. Marmite, although it's slightly taking the p as the raw material is local, is the same thing: packaging, distribution and other costs have an international component, or are influenced by international markets.

I assume your question is whether the squeeze on living costs will cause a recession here? It certainly sounds plausible, especially (as Lord Pew says) there's not much disposable income to squeeze, these days.

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I think it will hit alot of families hard. Not going to repeat the stats because we all know them by now. But a 10-20% rise in weekly food shop or imported goods could push alot of people under.

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I think the change in tax with regard to rental income from April 2017 is the big stick which will hit BTL. That will make landlords pay the taxman a larger percentage of a larger pie. And then things will get slightly worse every year (worse for the financially irresponsible).

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They are already getting us geared up for lower interest rates and rising costs in shops.....early warning spreads the shock. What are the options?.....to do things differently, things change we adapt to the changes, how we change may not be the way they expect us to change.....

Why they sell even lower interest rates and high inflation as good or beneficial for the economy is a mystery to me. ;)

Edited by winkie

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No technical recession for at least six months from now, and then only if we see a drop of .6% growth which would be colossal. And before that we've got US election, French election, Italian referendum, Article 50 (and possible forced UK election/ersatz 2nd referendum in the spring), all amid mounting geopolitical tension with Putin, abject failure of EU to reform and continuing decline of the West.

Tatty press stories about Marmite inflation and the vagaries of apple mac profiteering are the least of my worries. We live in the moment now, too terrified to consider the future.

But to save Blighty we all have to work harder, for longer, for less. We have to pay more, borrow more and expect nothing to get better.

I for one refuse to pay four British pounds for a pint and think car designs are boring and haven't evolved since the 90s so I'll keep my old banger. I'm not impressed by the tiny improvements of most new tech iterations so screw the pixel xl and 4k tvs.

I dress in rags but I eat well. Always walk away from a purchase. Read Plato.

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Not terribly bothered. You've got to be pretty near the breadline (and not wasting money) for it to hurt. There's still easily enough to go around, anyone unable to get it is a victim of internal problems, any attempts to blame it on Brexit for that are trying to just look at the thing that's revealed the issues rather than the fundamental cause of them.

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Well, Lidl's champagne offer was 6 for £50 this weekend, with £4 off if you add the winecase discount. Thats <£7.50 a bottle. Never been cheaper in my experience.

As for Marmite: bought this yesterday: 250g. £1.88 from Waitrose (£2.35 less Pick Your Own offers discount with Waitrose card, which is free) 

marm.jpg

Add to Winkie's post " They are already getting us geared up for lower interest rates and rising costs in shops "

The "geared up for low IRs" has been going on for some time, no? :)

Edited by dryrot

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2 minutes ago, knock out johnny said:

Farage on LBC this morning recommended eating English cheeses instead of French cheeses  as English cheese won't go up in price :rolleyes:

 

what a fcking tool

Doesnt cathedral cheddar come from Ireland?

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Pump price of petrol reached 115.15p a litre this week, up 3.34p a litre on a month ago when it averaged 111.81p a litre according to the AA's Fuel Price report.

Diesel is up 3.82p a litre on last month, now averaging 116.88p compared to 113.06p in mid September. 

Industry consensus for the price of oil in 2017 is $60bbl (below), a 15-20% hike from where we are now.

Up!

http://www.telegraph.co.uk/investing/funds/the-price-of-oil-is-heading-up---should-i-invest-and-how/

 

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Can I invest in Bailiff/Repo service companies?

Seriously, it will be those with nothing and struggling who will bear the brunt because the Tory Twts raised VAT and will not cut it to offset these short term inflation rises.

I couldn't be happier that Tamara and Oliver have to leave Prep-School, or that Truffle oil cannot be a staple foodstuff or that the Ski Trips and SUV's have to be cancelled.

But it will be people right at the bottom that will be kicked harder. Absolutely shocking. I hope we remember this when we rebuild after the aboslute random-shite Storm on the way.

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8 hours ago, thehowler said:

No technical recession for at least six months from now, and then only if we see a drop of .6% growth which would be colossal. And before that we've got US election, French election, Italian referendum, Article 50 (and possible forced UK election/ersatz 2nd referendum in the spring), all amid mounting geopolitical tension with Putin, abject failure of EU to reform and continuing decline of the West.

Tatty press stories about Marmite inflation and the vagaries of apple mac profiteering are the least of my worries. We live in the moment now, too terrified to consider the future.

But to save Blighty we all have to work harder, for longer, for less. We have to pay more, borrow more and expect nothing to get better.

I for one refuse to pay four British pounds for a pint and think car designs are boring and haven't evolved since the 90s so I'll keep my old banger. I'm not impressed by the tiny improvements of most new tech iterations so screw the pixel xl and 4k tvs.

I dress in rags but I eat well. Always walk away from a purchase. Read Plato.

How i wish to live in life, you absolute legend. Well done.

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1 hour ago, Tapori said:

How i wish to live in life, you absolute legend. Well done.

Some people die at 40 and are buried at 80 - you appear to be one of them and your mate - living the dream !

 

 

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8 hours ago, thehowler said:

Read Plato.

^? I used to love reading Plato decades ago, so curious why you mention him. Are you referring to the selfless dignity of Socrates leading up to his execution, the cut-and-thrust of some of the other dialogues, or the beguiling, seductive arguments for the totalitarian horror of the "Republic"?

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I like the way Plato sets out well-ordered arguments bringing greater self-awareness and pathways towards a better-lived life, which never really seemed to involve buying lots of things or running the latest version of Android. But you must know that already. Not that I'm jogging around in sandals and a tablecloth/himation. Cicero's worth a look too.

Can't say I've noticed a lot of price cuts over the deflationary panic years we've just been through - even petrol didn't get that cheap - though food has been static, albeit shrinking. And it all just feels rather transient - the dollar could shift next month, bringing that sack of tea leaves back down to 80 bucks, instead of 120.

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Fleece and jeans and sometimes jeans and fleece. Jeans cost me £1 a pair and £2.50 for a fleece.

Oh happy days.

I agree with howler, I`ve seen little or no inflation from ALDI and hate the games that other supermarkets play. Aldi have 6% of market share and will have 10% or more in the near future .

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On 28/10/2016 at 10:26 PM, mathschoc said:

With Typhoo, Marmite and Apple having a price hike (Apple have increased one of their products by £500 cheeky sods) all announced in a very short amount of time, I was wondering what everyone's views are. Cost of goods go up, recession looming? 

The way I interpreted the (massively over-reported) stories about Marmite and Typhoo price increases, is that they are just there to 'prime' the electorate in case the government deems it 'necessary' to remain in the EEA (whereas before the referendum the PM said that EEA was not an option in the event of a leave vote).

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6 hours ago, Tapori said:

How i wish to live in life, you absolute legend. Well done.

Thing is, no one needs to dress in rags nowadays, you can get perfectly decent t-shirts etc in Sainsbury etc. for next to f*uck all, long long way to go before the average punter is living at anywhere near a "basic" level IMO.

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9 hours ago, dances with sheeple said:

Thing is, no one needs to dress in rags nowadays, you can get perfectly decent t-shirts etc in Sainsbury etc. for next to f*uck all, long long way to go before the average punter is living at anywhere near a "basic" level IMO.

Quite. And even if prices have gone up basic food is still very cheap indeed. If there's a situation where price rises really cause someone to struggle then better care needs to be taken at looking at the real cause, because even with a bit of a hit the country overall is easily wealthy enough for no-one in it to need to struggle. In any case how far back does it set us? To the equivalent level of a time when it was genuinely less possible to support the whole population, or has all the "growth" in the meantime just been smoke and mirrors, or at least irrelevent when it comes to doing anything really useful (just spent on dealing with population growth perhaps, so zero net benefit).

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