UK inflation hits new high of 9.1% as food and energy price surge persists

og kush420

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Quote from: wxa7115 on July 07, 2022, 12:59:17 PM

And about how to protect ourselves from inflation there are several ways to do this, one way is to buy all the food that you can which lasts for a long time, this way even if there are further increases in the price of food you are covered already for some time, you can reduce the money spent on luxuries like apps, video games or streaming services, and on even more extreme cases several family members could decide to live in the same house and share rent, decreasing your costs significantly in the process.

In my country - the interest has reached to 33% - the highest ever.
People are crying like crazy - the prices of everything has gone so high. For everyone the purchasing power has reduced. This is terrible time

wxa7115

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Quote from: og kush420 on July 04, 2022, 04:58:32 PM

Quote from: eaLiTy on July 03, 2022, 01:24:10 PM

Quote from: Haunebu on July 03, 2022, 11:34:46 AM

~
This is messed up for UK citizens which is similar to what the rest of the world is facing these days primarily thanks to COVID and the Russian war. Also, someone like Boris Johnson representing UK is another factor in this case.

This whole situation is actually bad for the middle class and poor people since the rich will endure as usual even though they might see a drop in their profits.

This is a situation that is faced globally, food prices are soaring, fuel prices are rising and inflation is rising, you cannot blame everything on COVID for the situation let alone the Russian War. Countries and governments will blame the situation on them and have a free will situation. The economy was struggling well before the pandemic situation in majority of the countries and it is just another trigger and everyone will struggle during this phase.

I have read in the local news paper that people in UK are protecting against the hike in the prices, it is going on everywhere.
I am not sure how they are managing this - but in our country many people have parked their cars and started using local transportation. The grocery is almost double the price.

People will have to learn to be more frugal in their spending which in turn will bring the economy down, as a great deal of it is based on consumer spending, so when people lose faith in the economy it begins a downward spiral from which it is difficult to recover.

And about how to protect ourselves from inflation there are several ways to do this, one way is to buy all the food that you can which lasts for a long time, this way even if there are further increases in the price of food you are covered already for some time, you can reduce the money spent on luxuries like apps, video games or streaming services, and on even more extreme cases several family members could decide to live in the same house and share rent, decreasing your costs significantly in the process.

og kush420

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Quote from: eaLiTy on July 03, 2022, 01:24:10 PM

Quote from: Haunebu on July 03, 2022, 11:34:46 AM

~
This is messed up for UK citizens which is similar to what the rest of the world is facing these days primarily thanks to COVID and the Russian war. Also, someone like Boris Johnson representing UK is another factor in this case.

This whole situation is actually bad for the middle class and poor people since the rich will endure as usual even though they might see a drop in their profits.

This is a situation that is faced globally, food prices are soaring, fuel prices are rising and inflation is rising, you cannot blame everything on COVID for the situation let alone the Russian War. Countries and governments will blame the situation on them and have a free will situation. The economy was struggling well before the pandemic situation in majority of the countries and it is just another trigger and everyone will struggle during this phase.

I have read in the local news paper that people in UK are protecting against the hike in the prices, it is going on everywhere.
I am not sure how they are managing this - but in our country many people have parked their cars and started using local transportation. The grocery is almost double the price.

theCommittalist

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Quote from: trendcoin on July 03, 2022, 11:24:05 AM

Quote from: theCommittalist on July 02, 2022, 12:29:14 PM

Quote from: trendcoin on July 02, 2022, 12:03:53 PM

...

One cannot pull up the drawbridge & breed with cousins indefinitely. That sort of thing is what got us into this mess Roll Eyes

As I understand the idioms, you tried to say that "this process won't last forever". Yes, I agree it won't last forever, but it could go on for decades that could make us all more miserable. And at the end of the process, we can say "I wish I had carried the suspension bridge alone".

For those of us actually stranded on the physical state of 'blighty', we may be aware of some higher portion of misery. Be it the weather or the food or the queuing up & waiting forever to be told to come back next week, the national culture seems self aware as being melancholic shall we say.

I think 'globalisation' & 'decolonisation' are real processes while mostly poorly explained. I think they have something to do with the unusual levels of despair we can associate with specifically 'UK inflation' as opposed to the general fan-splattering going on everywhere but the oligarch's retreat Grin

eaLiTy

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Quote from: Haunebu on July 03, 2022, 11:34:46 AM

~
This is messed up for UK citizens which is similar to what the rest of the world is facing these days primarily thanks to COVID and the Russian war. Also, someone like Boris Johnson representing UK is another factor in this case.

This whole situation is actually bad for the middle class and poor people since the rich will endure as usual even though they might see a drop in their profits.

This is a situation that is faced globally, food prices are soaring, fuel prices are rising and inflation is rising, you cannot blame everything on COVID for the situation let alone the Russian War. Countries and governments will blame the situation on them and have a free will situation. The economy was struggling well before the pandemic situation in majority of the countries and it is just another trigger and everyone will struggle during this phase.

Haunebu

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This is messed up for UK citizens which is similar to what the rest of the world is facing these days primarily thanks to COVID and the Russian war. Also, someone like Boris Johnson representing UK is another factor in this case.

This whole situation is actually bad for the middle class and poor people since the rich will endure as usual even though they might see a drop in their profits.

As they say, it gets worse before it gets better which is why we need to endure this nasty period for a better future.

trendcoin

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Quote from: theCommittalist on July 02, 2022, 12:29:14 PM

Quote from: trendcoin on July 02, 2022, 12:03:53 PM

...

One cannot pull up the drawbridge & breed with cousins indefinitely. That sort of thing is what got us into this mess ::)

As I understand the idioms, you tried to say that "this process won't last forever". Yes, I agree it won't last forever, but it could go on for decades that could make us all more miserable. And at the end of the process, we can say "I wish I had carried the suspension bridge alone". :)

theCommittalist

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Quote from: trendcoin on July 02, 2022, 12:03:53 PM

We are talking about a global crisis... We are entering a period in which national values come to the fore while globalization is getting fragile. Now every country uses its own food and energy wealth as a weapon. This situation creates imbalances as it prevents us from using the world's wealth efficiently. That's why, as developed and developing countries, we are all in a crisis. If the crisis turns into a long-term economic war, the way to get out of this crisis will not be to increase interest rates.

One cannot pull up the drawbridge & breed with cousins indefinitely. That sort of thing is what got us into this mess Roll Eyes

trendcoin

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We are talking about a global crisis... We are entering a period in which national values come to the fore while globalization is getting fragile. Now every country uses its own food and energy wealth as a weapon. This situation creates imbalances as it prevents us from using the world's wealth efficiently. That's why, as developed and developing countries, we are all in a crisis. If the crisis turns into a long-term economic war, the way to get out of this crisis will not be to increase interest rates.

Mauser

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These inflation numbers we are seeing right now are insane. How is any normal person going to be able up keep his living standards normal? We all need food and energy to survive, there is no real possibility do cut back expenses to a complete minimum. All the Western countries are facing a similar dilemma right now, rising inflation while the wages are oh covering that increase. So far I heard from companies raising salaries by 2-3%, but this is not offsetting a 9% inflation. So somehow we got out of the covid mess but things seem much worse now. And don't forget all the savings people hold in bank accounts with less than 1% interest, they will be worthless in a few years. The worst thing is that there is no end insight for the Russia Ukraine war, which means energy and food prices will keep rising. Looks like the only solution is to buy gold or crypto currencies.

theCommittalist

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Quote from: Bitstar_coin on July 01, 2022, 02:45:45 PM

Quote from: D-law on June 25, 2022, 08:31:23 AM

What would possibly be the recommendation to fight inflation ?
How can it be tackled, what will you advice .
Food shortage and the increase in transportation fees are currently on a high increase.

According to economic experts, government have no sure ways to stop inflation, they can control it by reducing the money in circulation through high interest rate (I.e the government will increase the interest rate for borrowing or securing a loan) to reduce the demand for consumer goods.

Increase in transportation is as a result of increase in gas which was caused by first the pandemic and by the Russian/Ukraine war.

Food shortage also caused by the pandemic as a result of limited supply due to a halt in the supply chain system. The world is still on recovery process and there is little the government can do to address this situation thud it will be a gradual process to get out of inflation.

Never trust anyone called an 'economic expert' =)

Governments get together to decide the price of things based on supply, which as everyone knows for years in the case of gas & oil has been running out. The same governments are impeding the transition to renewables & the reason is worse than you think. They are ruling families & dynasties only maintaining their position by putting the majority of us at a relative disadvantage, so they can't be overthrown by revolution, or 'democracy'. The Russia/Ukraine war is a smokescreen for these power-mad prehistoric autocrats & theocrats who will continue to disperse & distract us as long as they are permitted.

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Quote from: D-law on June 25, 2022, 08:31:23 AM

What would possibly be the recommendation to fight inflation ?
How can it be tackled, what will you advice .
Food shortage and the increase in transportation fees are currently on a high increase.

According to economic experts, government have no sure ways to stop inflation, they can control it by reducing the money in circulation through high interest rate (I.e the government will increase the interest rate for borrowing or securing a loan) to reduce the demand for consumer goods.

Increase in transportation is as a result of increase in gas which was caused by first the pandemic and by the Russian/Ukraine war.

Food shortage also caused by the pandemic as a result of limited supply due to a halt in the supply chain system. The world is still on recovery process and there is little the government can do to address this situation thud it will be a gradual process to get out of inflation.

wxa7115

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Quote from: kryptqnick on June 22, 2022, 06:46:07 AM

I've lived in a country with high inflation rate, and I guess it made me pretty much insensitive to changes like this. I've been living in the UK since February, and if the prices got higher within this period of time, I didn't notice. They're very high, but that's because I compare them to a third-world country where I'm from. The 9% inflation, though, doesn't mean that the prices for goods went up by 9%. And you can see from this article that it's actually more like 4%, which, honestly, isn't easy to notice. If your average shop bill was 40 GBP, it would now be 42. Would you notice that?

Probably not unless you keep records, however even if I am not obsessive enough to create those records on my own, thanks to the technology and the fact you can order your groceries online those records do exist and sometimes I do take the time to look at them and I do notice that stuff is way more expensive now than it was just a year ago.

This is because as you say inflation does not impact each product in the same way, as there are some products that still have a very similar price while there are others that have become so expensive that I have just stopped buying them as they are no longer worth their price tag.

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Quote from: virasisog on July 01, 2022, 12:38:02 PM

Quote from: KingsDen on July 01, 2022, 08:30:13 AM

After covid-19 pandemic, no country has successfully returned to normal. All the countries are struggling, but some countries are in much mess than others. While 9.1% is seen quite high for UK, in some countries, it is normal at 15% and even more than that, but they use media to play it down.

In whatever situation we might see it, it is nice we understand that all countries are on the long lane of inflation. While some are speeding, some are slow, yet they are all in same lane of economic decline.

Every country's economy was badly affected by the pandemic. We're just in the recovery phase but unfortunately, the inflation rate has to increase because of different factors. Ukraine isn't the only country that is suffering from the inflation increase. Even our country is suffering at the moment. Food and important necessities are continuously striking high. I think the best thing to do during this situation is just to hustle hard so we could survive.

In the coming years, we will not think about economic recovery. Now there is a decline and every day it will be more tangible for people. We haven't even reached the bottom. So we can't go up yet. It is already clear that this crisis will be worse than the pandemic and it will last a long time. Let's not despair and find the good in this situation. Europe will use less gasoline and that means the air will be a little cleaner. Until they start burning coal stoves...

virasisog

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Quote from: KingsDen on July 01, 2022, 08:30:13 AM

After covid-19 pandemic, no country has successfully returned to normal. All the countries are struggling, but some countries are in much mess than others. While 9.1% is seen quite high for UK, in some countries, it is normal at 15% and even more than that, but they use media to play it down.

In whatever situation we might see it, it is nice we understand that all countries are on the long lane of inflation. While some are speeding, some are slow, yet they are all in same lane of economic decline.

Every country's economy was badly affected by the pandemic. We're just in the recovery phase but unfortunately, the inflation rate has to increase because of different factors. Ukraine isn't the only country that is suffering from the inflation increase. Even our country is suffering at the moment. Food and important necessities are continuously striking high. I think the best thing to do during this situation is just to hustle hard so we could survive.

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Quote from: stompix on June 30, 2022, 11:40:14 PM

Quote from: tbterryboy on June 29, 2022, 04:36:52 AM

The reason, well at least the main reason would be the fact that in the smaller nations it is easier for politicians to be corrupt. I know that makes sense to people who lived in a small nation, and maybe people who live in 100+ million population type of places may not understand this.

But, when you live in a nation with a small population, a small economy, and of course a small number of voters total, that means that you could be corrupt and you can get away with it, because you are reaching out to a lot of people with your corruption and getting their vote as well. You could literally have a few industry giants in your pocket, keep being a president thanks to that, and control the whole media since it is only a few channels.

You couldn't be more wrong on this one.
If large countries over 100 million would be less corrupt then probably Russia, China, India, Mexico and Brazil will be don't eh top of the list of model countries, right?
In reality, look who's leading the pack

Denmark, New Zealand, Finland, Singapore and Sweden, all five of them barely make 30 million in population.
Size has nothing to do, be it land or population.

Quote from: Freeesta on June 29, 2022, 02:30:06 PM

I think everything is just beginning. The most interesting is ahead. Great Britain has chosen the course of the movement for itself and these are its results. Continuing to move at such a pace, the country will be ruined. The country can move far, far back in the time of the dinosaurs. Well, we'll see what happens next. What else will the old woman have enough strength...

Oh yeah, backward-going Britain, that keeps getting ruined and ruined, yet still able to design every damn chip in mobile phones nowadays.
This is like the commies waiting in bread lines for the US to collapse.

And God save Prince Andrew's blessed Y-fronts!

I doubt the Americans are as eager to bring you up as you always are them though Wink

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After covid-19 pendamic, no country has successfully returned to normal. All the countries are struggling, but some countries are in much mess than others. While 9.1% is seen quite high for UK, in some countries, it is normal at 15% and even more than that, but they use media to play it down.

In whatever situation we might see it, it is nice we understand that all countries are on the long lane of inflation. While some are speeding, some are slow, yet they are all in same lane of economic decline.

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Quote from: Flexystar on June 30, 2022, 02:06:38 AM

It seems that Russian cut off from the gas and other exports are affecting the European countries slowly. I mean with the time every country slowly publishing that they are suffering from inflation. Most of the increased cost is from vegetables and energy resources ultimately affecting the whole nations foreplay. There is no news from Asian countries where Russia has built up good relationship with and continue to import and export like regular days. I think the only factor that’s affecting is current on going war.

Europe is largely dependent on Russian gas so it's not surprising that the country has been hit hard, but other countries are also struggling, poorer countries as the world's energy resources are disturbed. Commodities race to increase prices, causing the lives of millions of families to come to a standstill. Inflation will not end any time soon if wars and epidemics continue to rage and we will have to continue to weather the price storm caused by war.

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Quote from: tbterryboy on June 29, 2022, 04:36:52 AM

The reason, well at least the main reason would be the fact that in the smaller nations it is easier for politicians to be corrupt. I know that makes sense to people who lived in a small nation, and maybe people who live in 100+ million population type of places may not understand this.

But, when you live in a nation with a small population, a small economy, and of course a small number of voters total, that means that you could be corrupt and you can get away with it, because you are reaching out to a lot of people with your corruption and getting their vote as well. You could literally have a few industry giants in your pocket, keep being a president thanks to that, and control the whole media since it is only a few channels.

You couldn't be more wrong on this one.
If large countries over 100 million would be less corrupt then probably Russia, China, India, Mexico and Brazil will be don't eh top of the list of model countries, right?
In reality, look who's leading the pack

Denmark, New Zealand, Finland, Singapore and Sweden, all five of them barely make 30 million in population.
Size has nothing to do, be it land or population.

Quote from: Freeesta on June 29, 2022, 02:30:06 PM

I think everything is just beginning. The most interesting is ahead. Great Britain has chosen the course of the movement for itself and these are its results. Continuing to move at such a pace, the country will be ruined. The country can move far, far back in the time of the dinosaurs. Well, we'll see what happens next. What else will the old woman have enough strength...

Oh yeah, backward-going Britain, that keeps getting ruined and ruined, yet still able to design every damn chip in mobile phones nowadays.
This is like the commies waiting in bread lines for the US to collapse.

Wakate

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Quote from: Freeesta on June 29, 2022, 02:30:06 PM

I think everything is just beginning. The most interesting is ahead. Great Britain has chosen the course of the movement for itself and these are its results. Continuing to move at such a pace, the country will be ruined. The country can move far, far back in the time of the dinosaurs. Well, we'll see what happens next. What else will the old woman have enough strength...

This is not only happening in the UK, everybody is facing the hardship. The rate price of food and goods is going up is somehow disturbing. No one is left here whether you leave in the South or North. I pray everything wi gradually reset but the way I'm seeing this and the various conflict in the world, we might be force to experience double of what we are seeing now due to the world uncertainty. Sanctions everywhere restricting the movement of goods and services.

Topic: UK inflation hits new high of 9.1% as food and energy price surge persists (Read 521 times)