Jump in Inflation

[Adamski]

Shock rise to 10.4%, was expected to fall.

Got to say with prices in supermarkets now not totally surprised. Do think there's some profiteering going on.

[Adamski]

Uk inflation in Feb highest in G7, only country in double digits. Brexit has to be a factor. Time to rejoin the EU, when will the politicians wake up?

[Dod101]

Uk inflation in Feb highest in G7, only country in double digits. Brexit has to be a factor. Time to rejoin the EU, when will the politicians wake up?

When will people accept that Brexit is done, finished, gone?

Dod

[swill453]

Uk inflation in Feb highest in G7, only country in double digits. Brexit has to be a factor. Time to rejoin the EU, when will the politicians wake up?

When will people accept that Brexit is done, finished, gone?

Brexit may be done, but the clamour to rejoin the EU in some form is just getting going.

Scott.

[Dod101]

When will people accept that Brexit is done, finished, gone?

Brexit may be done, but the clamour to rejoin the EU in some form is just getting going.

Scott.

That may be so, who knows? I doubt that there will ever be a 'rejoining' of anything.

Anyway according to my newspaper the increase in inflation has been caused by price increases/labour shortages in restaurants and pubs. From personal experience that I could agree with. Interesting though because these are discretionary expenses so people cannot be hurting that badly.

Dod

[swill453]

Anyway according to my newspaper the increase in inflation has been caused by price increases/labour shortages in restaurants and pubs. From personal experience that I could agree with. Interesting though because these are discretionary expenses so people cannot be hurting that badly.

That just means the prices are going up, it doesn't necessarily mean anyone's buying.

Scott.

[CliffEdge]

The only way to "cure" inflation is to increase unemployment.

[pje16]

Shock rise to 10.4%, was expected to fall.

Got to say with prices in supermarkets now not totally surprised. Do think there's some profiteering going on.

there seem to be at Tesco
a tin of something I buy went from 60p to 70p to 80p to 90p in consecutive weeks
only small amounts but “every little... counts”

[pje16]

The only way to "cure" inflation is to increase unemployment.

and clamp large pay rises

[1nvest]

Shock rise to 10.4%, was expected to fall.

Got to say with prices in supermarkets now not totally surprised. Do think there's some profiteering going on.

Expected 10.7% myself. Expecting end of year to be at just a shade under 5%. I suspect that the 2.9% type suggested year end figures are more a case of down-talking of potential current wage increase negotiations along with a 'inflation is being more sticky than we thought/expected' excuse come year end.

[Tedx]

The only way to "cure" inflation is to increase unemployment.

'Hike until it breaks'.

Still, the well off won't care about that. They're getting more on their cash deposits these days.

[CliffEdge]

The only way to "cure" inflation is to increase unemployment.

and clamp large pay rises

The generation that experienced inflation in the seventies has largely died off or out to grass. The lessons learned unknown nowadays to the current generation of entrepreneurs and privileged board placeholders of today, and of course the evil union barons. So increase prices: increase profits - simple. Increase wages: increase standard of living - simple.
Twang

[CliffEdge]

Shock rise to 10.4%, was expected to fall.

Got to say with prices in supermarkets now not totally surprised. Do think there's some profiteering going on.

there seem to be at Tesco
a tin of something I buy went from 60p to 70p to 80p to 90p in consecutive weeks
only small amounts but “every little... counts”

Same in Lidl, grated cheese up 10p every week

[Alaric]

a tin of something I buy went from 60p to 70p to 80p to 90p in consecutive weeks

Tins that not so long ago priced between £ 1 and £ 2.50 have been over £ 3 in some supermarkets. Tesco did halve the price back to £ 1.50 as a Clubcard thing.

[pje16]

a tin of something I buy went from 60p to 70p to 80p to 90p in consecutive weeks

Tins that not so long ago priced between £ 1 and £ 2.50 have been over £ 3 in some supermarkets. Tesco did halve the price back to £ 1.50 as a Clubcard thing.

no Clubcard offer on the item I posted about.

[Tedx]

The only way to "cure" inflation is to increase unemployment.

'Hike until it breaks'.

Still, the well off won't care about that. They're getting more on their cash deposits these days.

The whole Jon Stewart clip is good, but serial tosspot, Larrry Summers @ 2 min 11 saying that mass unemployment is needed to contain inflation against the backdrop of his luxury Caribbean holiday resort is just like a big f-you to the US working class.

https://youtu.be/SHUUTpxmzxA

[CliffEdge]

'Hike until it breaks'.

Still, the well off won't care about that. They're getting more on their cash deposits these days.

The whole Jon Stewart clip is good, but serial tosspot, Larrry Summers @ 2 min 11 saying that mass unemployment is needed to contain inflation against the backdrop of his luxury Caribbean holiday resort is just like a big f-you to the US working class.

https://youtu.be/SHUUTpxmzxA

Yes it's disgusting that the profiteers hike prices with impunity and the only way to stop them is to thrash their customers, the proles. That's the downside of capitalism under stress.

[tjh290633]

It is interesting to note that prices usually fall in January, 2023 being no exception. You really need to compare February with December to get a better idea of what goes on.

Month     CPI     Monthly change %
2020 12   109.2            0.28 
2021 01   109.0           (0.18)        
2021 02   109.1            0.09 
                                
2021 12   115.1            0.52 
2022 01   114.9           (0.17)        
2022 02   115.8            0.78 
                                
2022 12   127.2            0.39 
2023 01   126.4           (0.63)        
2023 02   127.9            1.19

It should come as no surprise.

TJH

[Dod101]

Anyway according to my newspaper the increase in inflation has been caused by price increases/labour shortages in restaurants and pubs. From personal experience that I could agree with. Interesting though because these are discretionary expenses so people cannot be hurting that badly.

That just means the prices are going up, it doesn't necessarily mean anyone's buying.

Scott.

Well I said that from personal experience there are price increases/labour shortages. Do you think I just did a survey without buying? I do not frequent pubs but I do restaurants and they are busy and expensive. Busy maybe because of restricted hours but expensive because prices have risen.

So I do not think that your cynicism is in the least justified.

Dod

[Arborbridge]

That just means the prices are going up, it doesn't necessarily mean anyone's buying.

Scott.

Well I said that from personal experience there are price increases/labour shortages. Do you think I just did a survey without buying? I do not frequent pubs but I do restaurants and they are busy and expensive. Busy maybe because of restricted hours but expensive because prices have risen.

So I do not think that your cynicism is in the least justified.

Dod

I'd agree with you. At least, in the places I go to there seems to be a busy trade and often difficulty getting a table. I'm also struck by how people are willing to pay quite high prices in these places - mostly fairly ordinary pubs or restaurants.

Maybe it's akin to Maynard Keynes' brick on a string? You keeping pulling, then all of a sudden it moves and hits you in the face. What I mean is, people will continue to eat and go out despite rising prices, but then there's a paradigm shift where they simply refuse to any more. We haven't reached that flex point yet.

Arb.