UK inflation down

[arista]

[The rate of inflation is finally back in single digits
for the first time since last summer,
easing to 8.7% last month - but food inflation
remains near 20% and core price inflation
is at a 30-year high.]

https://news.sky.com/story/significant-easing-of-inflation-as-energy-costs-stabilise-latest-ons-figures-show-12887613



That's a Start.

Keep it Going..............

[joeysteele]

Oh good.
Things rising only 1.4% less down from 10.1%

What's the real figure for overall food costs?
Nothing like 8.7% for sure.

[Quantum Boy]

Fuel is bringing it down, both petrol/diesel back under £1.50 (diesel let's not forget hit £2+) and gas/electricity prices have, at least, stabilised.

So it's hard to estimate what it actually means in terms of general retail prices across the board.

[bots]

food prices were rising at 20% last month so, it's a pretty meaningless figure to the vast majority of us

[Quantum Boy]

food prices were rising at 20% last month so, it's a pretty meaningless figure to the vast majority of us

It just shouldn't be happening - a big part of the reason for increasing food costs is food transport (diesel) and production cost (energy) and both are down a good 25%. Obviously it takes time for there to be a knock-on effect but I'm not filled with hope... on things like food and household products, once a standard price goes up it's VERY rare for it to come back down, unless on special offer etc.

[arista]

At least the dip is going in the right
direction

Slightly Down.


Sure, Food Prises are still very high

[Vanessa]

Great news. Let's hope it continues to go down.

[James]

I came across this comparison online of US vs UK prices.

US prices. Apparently you have to add sales tax to these prices.
https://pbs.twimg.com/media/Fxn0hNPakAA-E4H?format=jpg&name=medium




UK.
https://pbs.twimg.com/media/Fxn0hjrakAATEBj?format=jpg&name=medium

I've read though that average wages are higher in America but I never realised things in America cost so much.

[DemolitionRed]

Falling inflation doesn't mean prices will go back down. It just means they will increase at a slower rate.
I know Sunak is putting pressure on food retailers to reduce certain consumables to the lowest possible price, but the inflation rate for food in April of this year, was a staggering 19.2% and looks like its going to continue to soar.

[Quantum Boy]

I've read though that average wages are higher in America but I never realised things in America cost so much.

:omgno: $10 for basic deodorant?

I think food prices are usually comparible or cheaper than the UK, e.g. a McDonalds Happy Meal is something liek $4.50 which is comparible to the UK (like £3.50). Maybe certain items are much more expensive??

But then... the RRP of a PS5 in the US is $499 which is about £400 - yet the actual UK price is £449. So it can't be the same across the board on all types of item.

[Quantum Boy]

Oh also fuel in the US averages about $3.70 a gallon which is just under £1 a litre... so maybe like 78p/litre. When did you last see fuel prices like that in the UK :joker:.

They also pay less than half what we pay per kWh for electricity although - to be fair - this used to be roughly on par. It's just that ours ****ing doubled and theirs didn't.

[arista]

Now at 6.8%


Keep it going

They want 2%


https://www.bbc.co.uk/news/business-66509365

[Gusto Brunt]

Great news. Let's hope it continues to go down.

Some hope. Food prices still going up in Iceland supermarket.:fist:

[arista]

Some hope. Food prices still going up in Iceland supermarket.:fist:

Yes thats wrong

There was a 7 for 10 Deal
Frozen meals/veg

[arista]

https://pbs.twimg.com/media/F3qQT1eW8AAc85n?format=jpg&name=small

[arista]

Ch4HDnews
asked Taxi Driver in London.

He said he has to increase his working week
by 20 Hours just to stay afloat,
His family are not happy.

[arista]

Inflation Rate
is now 6.7

It was 6.8


https://www.bbc.co.uk/news/live/business-66861406

Sadly
Petrol keeps going up in price.

[arista]

This morning Inflation rate
Stayed at 6.7

Not going up
but not going down..................

[joeysteele]

What it means is on average, the cost of living is still going UP by as much as it was the previous month.

So no joy at all or relief of any kind for the citizens of the UK.

[arista]

BBC News Text :
[The i says its panel of economists believe the
Bank of England's base rate looks set to
stay at 5.25%, which it says would offer
a "welcome reprieve to homeowners".
It says the Treasury and Bank are both
hopeful that inflation could
drop to 5% next month.]


https://ichef.bbci.co.uk/news/976/cpsprodpb/DEA4/production/_131469965_i.jpg.webp

[arista]

Inflation has fallen again,

Now at 4.6%



[New data shows a sharp fall in UK inflation,
down to 4.6%
It's the lowest rate since November 2021 - the fall is
mainly down to lower energy prices
The rate in September was 6.7%
The government has pledged to halve inflation
this year, from 10.7% at the end of 2022]


https://www.bbc.co.uk/news/live/uk-67423724

[bots]

So Rishi meets his target

[Gusto Brunt]

And I was in the shop today,

Four cheese and onion pasties in a pack, were £1.00 three years ago. Now £4.75

Madness.

[Gusto Brunt]

Yes thats wrong

There was a 7 for 10 Deal
Frozen meals/veg

Rip off Brtain, not inflation I think.

[arista]

And I was in the shop today,

Four cheese and onion pasties in a pack, were £1.00 three years ago. Now £4.75

Madness.



Yes it stinks

[arista]

https://ichef.bbci.co.uk/news/976/cpsprodpb/14BE3/production/_131736948_df5c805f-0561-40f8-ba81-dfd04681204b.jpg.webp

[arista]

November Inflation Result

Now down to 3.9%


[Inflation stood at 3.9% last month,
according to the Office for National Statistics (ONS),
a dramatic fall from the 4.6% recorded
a month earlier.]

[It's just under double the 2% target aimed
for by policymakers at the Bank of England.
Such highs are why the central bank
said it is too early to talk about cutting interest rates
which have made the cost of borrowing
more expensive in an
attempt to bring inflation down.]

[Gusto Brunt]

It's the same old story. Inflation 'down' but prices going up still.

I paid £3.80 for Aunt Bessie's roast potatoes today. They were £3.50 last week. :mad:

[joeysteele]

Food inflation still very high at 9.2.
We won't hear much of that from Sunak.

[Zizu]

Petrol prices about to soar apparently

Christmas petrol prices could soar as BP suspends shipments
Decision to pause operations comes after attacks on cargo ships by Houthi militants


Sent from my iPhone using Tapatalk Pro

[arista]

Food inflation still very high at 9.2.
We won't hear much of that from Sunak.


Yes
that's a bugger

[arista]

It's the same old story. Inflation 'down' but prices going up still.

I paid £3.80 for Aunt Bessie's roast potatoes today. They were £3.50 last week. :mad:


Yes not nice,
Leave Gusto's Roast Potatoes Price, alone.

[bots]

Prices are still rising and won't reduce (except fuel prices), it's just the rate of rise that is slowing

[arista]

https://liveblog.digitalimages.sky/lc-images-sky/lcimg-3966a54e-192f-44e2-8e3f-bbf3dcd6e184.png

[Gusto Brunt]

Yes thats wrong

There was a 7 for 10 Deal
Frozen meals/veg

Greed, because they know they can. :mad:

[arista]

USA moving lower to 2%

https://liveblog.digitalimages.sky/lc-images-sky/lcimg-e320f33b-fe54-4a7c-839c-5e1a6f116d0b.png

[arista]

December 2023
Inflation jumped up a little bit

3.9% to now at 4.0%

[Gusto Brunt]

Food prices still going up.

Yesterday, McCann microwave chips, £2.75 for six packs.

Now today, £3,25. :mad:. :fist:

[Gusto Brunt]

Yes it stinks

These price rises have nothing to do with real inflation. It's just an excuse to stick another 50p on a food product.

GREED, basically.:fist:

[arista]

Down from 3.9%/4.0%

To today at 3.4%


https://www.bbc.co.uk/news/live/business-68581526

[Gusto Brunt]

I see the £1 Sausage and Mash frozen dinner down from 400g to 300g.

Price remains the same. But shrinkflation in place.:fist:

[arista]

I see the £1 Sausage and Mash frozen dinner down from 400g to 300g.

Price remains the same. But shrinkflation in place.:fist:


Yes they are all at it

[joeysteele]

I see the £1 Sausage and Mash frozen dinner down from 400g to 300g.

Price remains the same. But shrinkflation in place.:fist:

That's happening across the board on so many things.

[Vanessa]

Great news. Also, minimum wage is going up next month :dance:

[Quantum Boy]

Got an email offer of £145/month Direct Debit to switch to EDF on a 2-year fix and after paying approx £230 - £270 all winter this year I can't say I'm not sorely tempted but it might go down further :worry:... do I commit or not??

[Cherie]

Got an email offer of £145/month Direct Debit to switch to EDF on a 2-year fix and after paying approx £230 - £270 all winter this year I can't say I'm not sorely tempted but it might go down further :worry:... do I commit or not??

I would say yes, your bills are HIGH

[Quantum Boy]

I would say yes, your bills are HIGH

It's 70% leccy and I've never been able to figure out why. Neighbours are probably leeching our supply or something. I wouldn't be all that surprised.

It's still a good bit less than the all time high of £410 for December 2022 (and that was after the £67 reduction or whatever it was).

[Vanessa]

It's 70% leccy and I've never been able to figure out why. Neighbours are probably leeching our supply or something. I wouldn't be all that surprised.

It's still a good bit less than the all time high of £410 for December 2022 (and that was after the £67 reduction or whatever it was).

Yes your bills are very high. It's not usually that much. I would investigate that.

[Cherie]

It's 70% leccy and I've never been able to figure out why. Neighbours are probably leeching our supply or something. I wouldn't be all that surprised.

It's still a good bit less than the all time high of £410 for December 2022 (and that was after the £67 reduction or whatever it was).


we are always considered high leccy users and our bills are around 100.00 a month for 3 of us....turn off everything and see if the meter is still going :laugh:

[Zizu]

Got an email offer of £145/month Direct Debit to switch to EDF on a 2-year fix and after paying approx £230 - £270 all winter this year I can't say I'm not sorely tempted but it might go down further :worry:... do I commit or not??


Snap it up !

We are with them and paying about £290 every damn month !!


Sent from my iPhone using Tapatalk Pro

[bots]

Got an email offer of £145/month Direct Debit to switch to EDF on a 2-year fix and after paying approx £230 - £270 all winter this year I can't say I'm not sorely tempted but it might go down further :worry:... do I commit or not??

that seems quite high. When the new tariff applies next month, i will be down to about £80 a month, which is very close to what i paid a couple of years ago

[arista]

https://ichef.bbci.co.uk/news/976/cpsprodpb/871B/production/_132978543_mail-nc.png.webp

[arista]

https://ichef.bbci.co.uk/news/976/cpsprodpb/AAA7/production/_132978634_i-nc.png.webp

[arista]

https://ichef.bbci.co.uk/news/976/cpsprodpb/FC4B/production/_132978546_express-nc.png.webp

[arista]

Was 3.4

now it is 3.2%

[Quantum Boy]

that seems quite high. When the new tariff applies next month, i will be down to about £80 a month, which is very close to what i paid a couple of years ago

I've come to accept that on electricity we're just a high-usage household. I work from home, youngest is home-schooled, so heating on all day in the winter, 2x computers on all day, teenagers taking long showers, literally ENDLESS washing machine loads, kettle boiling, toaster, air fryer, etc etc... Plus it's Scotland so in the summer when it's too warm for heating, but too damp for outdoor drying (most of the summer let's face it) it's either heated airer on all day or damp clothes :joker:. Maybe we could cut usage a bit but honestly these days, I'd rather pay more for the convenience of not having to think about it. Fck the environment.

[bots]

the BoE need to reduce interest rates, and get some growth going. Unemployment is rising

[Ammi]

the BoE need to reduce interest rates, and get some growth going. Unemployment is rising

…absolutely this…

[arista]

Was 3.2%


now at 2.3%

[joeysteele]

Was 3.2%


now at 2.3%

2.3 indeed
Yes that's the average.
Plus it's mainly down because of falling of energy costs.
Which are STILL around 60% higher than 2 years ago.

However on just again 3 items I buy every week.
From this week to last week.
One has risen from £1.10 to £1.35.
(Rises absolutely way above near 2%+).

Another has gone from £1.60 to £1.95.
Both food items.

Then another thing I buy which was £3.25 two years ago
Since then has risen over the last 2 years to £4.25.
This week from last week is now £4.75.

So sorry, I'm not cheering yet this supposed inflation drop and I'm sure next week I'll see rises on more things too.

[arista]

Inflation now at 2%

From 2:3%

https://www.bbc.co.uk/news/live/cgeekd4nzvkt

But we are now in a 4th of July Election
so prices are still going up.

[arista]

Inflation now back to 2:2%


Labour can not stop it.


Conservative shadow Hunt stated
[Chancellor Rachel Reeves "must not use this
data as an excuse to break her promises
and hike up taxes".]

[joeysteele]

Looking at the places I shop I've never seen a halt to prices rising.
The only thing that's really come down is petrol prices at present.

However all the way before the election the 'so called political experts' were stating that inflation would start to rise again.

It's one of the reasons Sunak called the election because he knew it would rise from the 2% it was claimed to have come down to.

Apparently because of problems with cocoa, confectionery is expected to rise.
Plus as was stated in April.
The small percentage drop in energy costs will be reversed in October, by another 10% to 12% increase again then.

So obviously inflation will rise likely more in the Autumn.
More evidence of why the election was called sooner than the Autumn.
This was well-known and forecast.