Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Food Inflation 4.6% Figures Out Today

Recommended Posts

http://uk.biz.yahoo.com/080305/214/huvnm.html

Wednesday March 5, 01:24 PM
Rising food costs drive shop prices higher
| | |
LONDON (ShareCast) - Shop price inflation increased sharply in the UK during February as food costs continued to grow, according to data from the British Retail Consortium.
The BRC's shop price index jumped 1.3% on the year last month as food prices rose
4.6%
, the biggest hike since the survey began at the end of 2006.

So much for Gordon's 2.1% miracle rate.

Share this post


Link to post
Share on other sites

well thats sealed in

no more rate cuts this year, in fact they will soon run out of excuses not to raise rates

I can't see any rate cuts til next year which will be way to late to save the property market, not that the BoE have any effect on mortgages rates anyway

Share this post


Link to post
Share on other sites
Yeah but two 60" inch flat screen tv's were bought for 60% off in Bishop's Stortford which cancels this out.

indeed, I'm sure there is some sort of percentage system in place but it the whole "basket of goods" thing does worry me in that respect.

The other thing of course is the drop in value of technology, I upgrade the TV every 3-4 years or so but they have always been more expensive than I have paid the past, the fact a 40" Plasma was previously £2000 and is now £1000 is no concequence to me as I would never have purchased it at the high rate. With food however I'd have to pay the going rate.

Share this post


Link to post
Share on other sites
indeed, I'm sure there is some sort of percentage system in place but it the whole "basket of goods" thing does worry me in that respect.

The other thing of course is the drop in value of technology, I upgrade the TV every 3-4 years or so but they have always been more expensive than I have paid the past, the fact a 40" Plasma was previously £2000 and is now £1000 is no concequence to me as I would never have purchased it at the high rate. With food however I'd have to pay the going rate.

Naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah

No inflation, laptop down to £299 in Woolworth.

That's all that matters, because most of us get through a laptop each month don't we.

(Well, we would if we lived on a crack estate at £200pw rent, so Brown's system is almost working!)

Share this post


Link to post
Share on other sites
http://uk.biz.yahoo.com/080305/214/huvnm.html
Wednesday March 5, 01:24 PM
Rising food costs drive shop prices higher
| | |
LONDON (ShareCast) - Shop price inflation increased sharply in the UK during February as food costs continued to grow, according to data from the British Retail Consortium.
The BRC's shop price index jumped 1.3% on the year last month as food prices rose
4.6%
, the biggest hike since the survey began at the end of 2006.

So much for Gordon's 2.1% miracle rate.

But Mr Ber*****e said he is not worried about energy and food inflation, only core. Energy and food inflation are only temporary, to be ignored. Shirley, Mr King will join him to fight the good fight - deflation.... or so they say.

Share this post


Link to post
Share on other sites
Naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah

No inflation, laptop down to £299 in Woolworth.

That's all that matters, because most of us get through a laptop each month don't we.

(Well, we would if we lived on a crack estate at £200pw rent, so Brown's system is almost working!)

you would need to go through one a month of those crappy £299 woolies laptops.

Share this post


Link to post
Share on other sites

With Sat Navs down lap tops down and Gas Plasma TV down clothing down and 35mm film processing being replaced with cheaper digital printing its all looking rather rosey but then "I do earn considerably more than you"

Joking aside this is the point, the RPI faced by those on below average earnings/average earning will be a lot higher as food and energy will consume more of their budget. I think that there needs to be three rates, one for a basket of goods for someone on say 2/3 average income, one for average income and one for someone on twice avearge income. This would provide a more meaningful and trusted RPI rate.

Most people on this site agree that the RPI is wrong, most earn in excess of the average and are trying to save and therefore the falls in luxery goods is not so relevant to them

Share this post


Link to post
Share on other sites
Naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah

No inflation, laptop down to £299 in Woolworth.

That's all that matters, because most of us get through a laptop each month don't we.

(Well, we would if we lived on a crack estate at £200pw rent, so Brown's system is almost working!)

Well my shopping basket this morning was pretty revealing.Got a packet of paracetmols 15p (tension due to release of Halifax figures) and a packet of instant custard mix for tonights pudding 8p*.Total Tesco spend 23p.Then bought a pair of new Levi jeans for £2.99 at the clothes shop opposite.Inflation ,what inflation?

*it was a choice between that and Tesco Own Brand Instant Whip at 3p.The moral of the story is,if you think there is hyper-inflation don't let the wife loose on the shopping.

Share this post


Link to post
Share on other sites
Well my shopping basket this morning was pretty revealing.Got a packet of paracetmols 15p (tension due to release of Halifax figures) and a packet of instant custard mix for tonights pudding 8p*.Total Tesco spend 23p.Then bought a pair of new Levi jeans for £2.99 at the clothes shop opposite.Inflation ,what inflation?

*it was a choice between that and Tesco Own Brand Instant Whip at 3p.The moral of the story is,if you think there is hyper-inflation don't let the wife loose on the shopping.

Shhh... keep it quiet... :unsure: Gordon Brown would love to know where you get your Levis for 3 quid? Where was it BTW? ;)

Share this post


Link to post
Share on other sites
Shhh... keep it quiet... :unsure: Gordon Brown would love to know where you get your Levis for 3 quid? Where was it BTW? ;)

Oxfam charity shop ?

Share this post


Link to post
Share on other sites

Ouch! You're seriously tight, CrashMon. Do you make yer pud with water?

The half-pint of milk decadent fops like me indulge in when creating Angel Delight-style food-crimes has gone up two-and-a-half Great British Pence since August, I suppose that's 15%.

My MoneySavingTip is to switch to mixing it with homebrew. Don't half shut the kids up, don't it just.

Share this post


Link to post
Share on other sites
you would need to go through one a month of those crappy £299 woolies laptops.

Don't tell me, you own a laptop shop selling branded ones...!

Mind you, the Venturer portable DVD player I got packed up after 2 hours use, but it was stored in a damp room. Sadly out of warranty by the time I realised.

Well my shopping basket this morning was pretty revealing.Got a packet of paracetmols 15p (tension due to release of Halifax figures) and a packet of instant custard mix for tonights pudding 8p*.Total Tesco spend 23p.Then bought a pair of new Levi jeans for £2.99 at the clothes shop opposite.Inflation ,what inflation?

*it was a choice between that and Tesco Own Brand Instant Whip at 3p.The moral of the story is,if you think there is hyper-inflation don't let the wife loose on the shopping.

Oxfam Bargain Shop?

Share this post


Link to post
Share on other sites
Don't tell me, you own a laptop shop selling branded ones...!

Mind you, the Venturer portable DVD player I got packed up after 2 hours use, but it was stored in a damp room. Sadly out of warranty by the time I realised.

Oxfam Bargain Shop?

To be honest I am more surprised about Tesco instant whip at 3p.F**k me it was over 10p in the early 1970s.They will soon be giving it away.

Edited by crashmonitor

Share this post


Link to post
Share on other sites

4.6% is bull when it comes to food inflation

core and rice like many other comodities have been going balistic so who do they think they are fooling with this rubbish.

what with petrol prices, stealth taxes and fine and jobs about to go big time makes me think that by next winter we will have a lot of very unhappy people so it might just wake them up and make them take charge of their life and that includes demand change at the top.

Share this post


Link to post
Share on other sites
4.6% is bull when it comes to food inflation

core and rice like many other comodities have been going balistic so who do they think they are fooling with this rubbish.

what with petrol prices, stealth taxes and fine and jobs about to go big time makes me think that by next winter we will have a lot of very unhappy people so it might just wake them up and make them take charge of their life and that includes demand change at the top.

I've had a quick look at the APAC's figures for money spent of food and drink in Jan 08 compared to Jan07. (not SA)

Jan 07

Debit Card Spending: 3,768,234,389

Credit Card Spending: 1,146,505,560

Jan 08

Debit Card Spending: 4,050,166,746 +7.5%

Credit Card Spending: 1,233,644,967 +7.6%

An imperfect measure but getting closer to the real figure we are feeling in our pockets i think

Share this post


Link to post
Share on other sites
Guest Steve Cook

For the purpose of NS&I inflation linked savings accounts, what measure of inflation is used? Is it CPI or RPI.....and could someone explain these two terms to me.

Also, is the food price inflation a measure of RPI or CPI?

cheers

steve

Edited by Steve Cook

Share this post


Link to post
Share on other sites
For the purpose of NS&I inflation linked savings accounts, what measure of inflation is used? Is it CPI or RPI.....and could someone explain these two terms to me.

Also, is the food price inflation a measure of RPI or CPI?

cheers

steve

RPI is when the government wants your money

CPI is when you want the governments!

Share this post


Link to post
Share on other sites
For the purpose of NS&I inflation linked savings accounts, what measure of inflation is used? Is it CPI or RPI.....and could someone explain these two terms to me.

Also, is the food price inflation a measure of RPI or CPI?

cheers

steve

Steve food is a component of both CPI and RPI I believe. Because both measure include things that poorer people generally don't buy (eg plasma TV's) the measure of both effects poorer people the most as it is further removed from what they see is happening.

NSI are RPI + a bonus.

Share this post


Link to post
Share on other sites
For the purpose of NS&I inflation linked savings accounts, what measure of inflation is used? Is it CPI or RPI.....and could someone explain these two terms to me.

Also, is the food price inflation a measure of RPI or CPI?

cheers

steve

Food accounts for 10.5% of the RPI figure

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 294 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.