Gabby wrote:OMG! …. doing a shopping list online last night, and just on a handful of items there was a price increase of about a quid compared to the last couple of weeks… wtaf!!… what with energy bills set to rocket also….
Stooo wrote:How odd, I was told that it was going to be great
LordRaven wrote:Stooo wrote:How odd, I was told that it was going to be great
I did try to warn the Dorftrottels in society that this would happen, did they listen, did they fuck!
Holly wrote:Gabby wrote:OMG! …. doing a shopping list online last night, and just on a handful of items there was a price increase of about a quid compared to the last couple of weeks… wtaf!!… what with energy bills set to rocket also….
Same here, everything is slowly creeping up. Lettuce $6 (£2.94) Petrol, a liter $2.74 (£1.33)
This global inflation has many causes, including the effects of trillions of dollars of fiscal and monetary stimulus, pent-up demand, increases in shipping costs, ongoing supply-chain disruptions, and rising energy prices.
Maddog wrote::gigglesnshit:
Maddog wrote:"The Bank of England is poised to raise interest rates on Thursday amid growing concern over the pressure on households from high inflation in Britain’s cost of living crisis.
City economists widely expect the central bank to increase its key rate from 0.25% to 0.5% in response to inflation hitting levels not seen for almost 30 years, with financial markets suggesting a 90% chance of an increase in borrowing costs.
From milk to crisps: why the price of basic food items is rising
With pressure mounting on households from soaring energy bills and the rising cost of a weekly shop, several leading analysts expect that the Bank’s nine-member monetary policy committee (MPC) will vote unanimously for a rise in rates.
It comes after the official inflation rate reached 5.4% in December, the highest level since March 1992, driven by soaring gas and electricity prices and the higher cost of food, clothes and footwear. The Bank has warned that inflation could peak at close to 6% by April, three times the 2% target rate set by the government."
https://www.theguardian.com/business/20 ... takes-toll
Look on the bright side. It's not as bad as in the US, because the BofE didn't go quite as crazy with the quantitative easing.
In any event, central banks everywhere are trying to unwind the damage, while politicians and poorly informed or deliberately dishonest forum posters try to blame things that have nothing to do with this.
Avon Barksdale wrote:Maddog wrote:"The Bank of England is poised to raise interest rates on Thursday amid growing concern over the pressure on households from high inflation in Britain’s cost of living crisis.
City economists widely expect the central bank to increase its key rate from 0.25% to 0.5% in response to inflation hitting levels not seen for almost 30 years, with financial markets suggesting a 90% chance of an increase in borrowing costs.
From milk to crisps: why the price of basic food items is rising
With pressure mounting on households from soaring energy bills and the rising cost of a weekly shop, several leading analysts expect that the Bank’s nine-member monetary policy committee (MPC) will vote unanimously for a rise in rates.
It comes after the official inflation rate reached 5.4% in December, the highest level since March 1992, driven by soaring gas and electricity prices and the higher cost of food, clothes and footwear. The Bank has warned that inflation could peak at close to 6% by April, three times the 2% target rate set by the government."
https://www.theguardian.com/business/20 ... takes-toll
Look on the bright side. It's not as bad as in the US, because the BofE didn't go quite as crazy with the quantitative easing.
In any event, central banks everywhere are trying to unwind the damage, while politicians and poorly informed or deliberately dishonest forum posters try to blame things that have nothing to do with this.
The real inflation rate is probably much higher in reality, well over 7% I suspect, and people are starting to feel it. We use the CPI (which replaced the RPI) and some argue it generates artificially low figures.
When the price cap on energy changes in April it is not going to be pleasant for many people. As a matter of sheer good luck I fixed my prices in August 2021 until August 2023 so at least I don't have that to worry about.
ArchieG wrote:Avon Barksdale wrote:Maddog wrote:"The Bank of England is poised to raise interest rates on Thursday amid growing concern over the pressure on households from high inflation in Britain’s cost of living crisis.
City economists widely expect the central bank to increase its key rate from 0.25% to 0.5% in response to inflation hitting levels not seen for almost 30 years, with financial markets suggesting a 90% chance of an increase in borrowing costs.
From milk to crisps: why the price of basic food items is rising
With pressure mounting on households from soaring energy bills and the rising cost of a weekly shop, several leading analysts expect that the Bank’s nine-member monetary policy committee (MPC) will vote unanimously for a rise in rates.
It comes after the official inflation rate reached 5.4% in December, the highest level since March 1992, driven by soaring gas and electricity prices and the higher cost of food, clothes and footwear. The Bank has warned that inflation could peak at close to 6% by April, three times the 2% target rate set by the government."
https://www.theguardian.com/business/20 ... takes-toll
Look on the bright side. It's not as bad as in the US, because the BofE didn't go quite as crazy with the quantitative easing.
In any event, central banks everywhere are trying to unwind the damage, while politicians and poorly informed or deliberately dishonest forum posters try to blame things that have nothing to do with this.
The real inflation rate is probably much higher in reality, well over 7% I suspect, and people are starting to feel it. We use the CPI (which replaced the RPI) and some argue it generates artificially low figures.
When the price cap on energy changes in April it is not going to be pleasant for many people. As a matter of sheer good luck I fixed my prices in August 2021 until August 2023 so at least I don't have that to worry about.
The rate of inflation you feel is particular to your own spending habits, its all a general fudge really. Your own inflation rate is going to be lower for the time being owing to the same happy accident as me, energy fix. It’ll catch up with us in 2023. If you’re a benefit claiming single mum with a key meter and a cold flat, the rate is going to be a bit more than 7% I think. The average bill will have gone up about 80% after april, over 1 year. Next winter will be grim for a lot of people. What the government should do about it, aside from shovelling money at people, I don’t know. A hike in UC payments would obviously help. And probably changes to the earnings threshold. Whatever, its going to cost a lot, and it's potentially adding to the problem.
ArchieG wrote:Avon Barksdale wrote:Maddog wrote:"The Bank of England is poised to raise interest rates on Thursday amid growing concern over the pressure on households from high inflation in Britain’s cost of living crisis.
City economists widely expect the central bank to increase its key rate from 0.25% to 0.5% in response to inflation hitting levels not seen for almost 30 years, with financial markets suggesting a 90% chance of an increase in borrowing costs.
From milk to crisps: why the price of basic food items is rising
With pressure mounting on households from soaring energy bills and the rising cost of a weekly shop, several leading analysts expect that the Bank’s nine-member monetary policy committee (MPC) will vote unanimously for a rise in rates.
It comes after the official inflation rate reached 5.4% in December, the highest level since March 1992, driven by soaring gas and electricity prices and the higher cost of food, clothes and footwear. The Bank has warned that inflation could peak at close to 6% by April, three times the 2% target rate set by the government."
https://www.theguardian.com/business/20 ... takes-toll
Look on the bright side. It's not as bad as in the US, because the BofE didn't go quite as crazy with the quantitative easing.
In any event, central banks everywhere are trying to unwind the damage, while politicians and poorly informed or deliberately dishonest forum posters try to blame things that have nothing to do with this.
The real inflation rate is probably much higher in reality, well over 7% I suspect, and people are starting to feel it. We use the CPI (which replaced the RPI) and some argue it generates artificially low figures.
When the price cap on energy changes in April it is not going to be pleasant for many people. As a matter of sheer good luck I fixed my prices in August 2021 until August 2023 so at least I don't have that to worry about.
The rate of inflation you feel is particular to your own spending habits, its all a general fudge really. Your own inflation rate is going to be lower for the time being owing to the same happy accident as me, energy fix. It’ll catch up with us in 2023. If you’re a benefit claiming single mum with a key meter and a cold flat, the rate is going to be a bit more than 7% I think. The average bill will have gone up about 80% after april, over 1 year. Next winter will be grim for a lot of people. What the government should do about it, aside from shovelling money at people, I don’t know. A hike in UC payments would obviously help. And probably changes to the earnings threshold. Whatever, its going to cost a lot, and it's potentially adding to the problem.
If central banks increase the money supply, it can create inflation. The worst possible scenario for a central bank is that its quantitative easing strategy may cause inflation without the intended economic growth. An economic situation where there is inflation, but no economic growth, is called stagflation.
Another potentially negative consequence of quantitative easing is that it can devalue the domestic currency. While a devalued currency can help domestic manufacturers because exported goods are cheaper in the global market (and this may help stimulate growth), a falling currency value makes imports more expensive. This can increase the cost of production and consumer price levels.
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