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The rising cost of living


StefanAVFC

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6 hours ago, Davkaus said:

Of all the things to make me proud to be British, I didn't expect it to be the standard of paper used to smear shit around our arseholes in an inadequate attempt to clean.

Rule Britannia!

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55 minutes ago, Genie said:

Inflation UNCHANGED at 8.7% 🤦‍♂️ 

More interest rate pain to come. More strikes. Less food for your money. Savings being eroded.

 

Surely they are going to have to change the plan. They cant keep raising interest rates, at 6.5% now, an its hardly made a blind bit of difference, apart from screwing the consumer and increasing banks profits.

Fuel prices dropping 70p a litre should also have had an effect on inflation decreasing too, are companies just being greedy, an not reducing costs, wouldnt suprise me??

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Aaaggghhhh.  It's because of power costs. Increasing inflation will not make a single tiny bit of difference.  No one is going out and pissing away money unnecessarily. 

They need to think outside the box not just keep applying old solutions to new problems. 

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The good news is the inflation of food and energy is dropping from where it was, so less pressure on the must haves.

What's happened now though is the core inflation, especially the discretionary spending is driving it. Hotels and Restaurants, Recreation and Culture. 

What that means is more central bank rate rises to curb this spending. 

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6 minutes ago, sidcow said:

Aaaggghhhh.  It's because of power costs. Increasing inflation will not make a single tiny bit of difference.  No one is going out and pissing away money unnecessarily

They need to think outside the box not just keep applying old solutions to new problems. 

Except the it's the exact thing they ARE doing. Energy and Food prices are contributing to decrease in inflation but it's offset by increase in core due to people going out to dinner, staying in hotels and spending money on recreation. 

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21 minutes ago, CVByrne said:

Except the it's the exact thing they ARE doing. Energy and Food prices are contributing to decrease in inflation but it's offset by increase in core due to people going out to dinner, staying in hotels and spending money on recreation. 

On this part, alot of this is contributed  by people being homeless or had been made homeless with no where else to go.

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43 minutes ago, foreveryoung said:

Surely they are going to have to change the plan. They cant keep raising interest rates, at 6.5% now, an its hardly made a blind bit of difference, apart from screwing the consumer and increasing banks profits.

Martin Lewis had a bit of a dig last night on his show. He said months ago he was the only non-bank person invited to some government inflation task force meeting. He said that rate rises were inevitable but pleaded that they did not do it to increase their margins, I.e. If interest rates and therefore mortgage rates go up they should increase savings rates by at least the same amount, and they haven’t done that. The banks are just widening their profit margin at the cost of the public.

40 minutes ago, sidcow said:

They need to think outside the box not just keep applying old solutions to new problems. 

What if they massively increased the rate of interest on savings? People would then voluntarily take their spare money out of the system and have a positive impact on inflation (without losing it all to bank shareholders).

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Sunak doubling down on his personal promise to halve inflation from 10.1% by the end of the year.

We’re half way, and we’re at 8.7%

if you recall, when he made his promise it was seen as a smart move as inflation was set to tumble anyway, regardless of anything the PM might do.

The ‘pledge’ to take personal responsibility and the request to ‘judge me on it’ was on January 4th.

Quote

WASHINGTON, June 7 (Reuters) - British Prime Minister Rishi Sunak said on Wednesday he would take personal responsibility if he fails to deliver on his pledges to halve inflation and grow the economy by the end of the year.

Sunak set the targets in January as part of his five priorities ahead of a national election expected in 2024.

Asked during a visit to Washington whether he would take personal responsibility if he fails to either bring down inflation or grow the UK economy, he told Sky News: "Of course it's on me personally. I'm the prime minister."

Reuters

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2 minutes ago, Follyfoot said:

Quick question, what would you class as an average monthly food spend for a family of four excluding booze? 

We're a family of 3 and do probably 2 'big' shops a month which includes cleaning products, essentials, toiletries etc... About £200 a time. Inbetween we just pick up what we need to top up on i.e. bread, milk etc.. I'd estimate we spend about £550 a month on shopping on average.

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