BBC: Food inflation at 8.3%

WTF?_2

and meat and fish at a whopping 22.9%!

http://news.bbc.co.uk/1/hi/business/7597703.stm

Meat and fish: +22.9%
Store cupboard/general: +15%
Fresh fruit/vegetables: +14.7%
Laundry/washing/paper: +14.4%
Drink: +6.8%
Pet food: +6.5%
Bakery/cereal: +6%
Frozen food: +5.8%
Household: +4.4%
Health & beauty: +0.4%
Ready meals: -0.4%
Dairy: -1.8%

Another nail in the coffin for chances of recovery in the housing market. With day to day living costs shooting up, people will be thinking really carefully before taking on large amounts of additional debt.

Bad news also for people who bought in the last couple of years and can just about make the payments on their monster mortgages ... worth noting that inflation of the price of the cost of living is very effective at taking away gains made from lower interest payments making debts cheaper to service.......

lostinrates

I'm finding it a little more than that in my basket, TBH. When I first noticed it it was about 10% though. My shop for Monday to Friday is pretty much the same week in week out: its very easy to make the comparison. (Its only me, I don't eat much and I know what I like and can eat). If I'm baking for someone else I put it on a separate receipt. I buy no meat for the week time either. My weekend shop is more varied and imaginative (its not just me and I actually cook ) and that one has mad me feel distincty unhungary paying for it (notably the meat and but fish I guess puting up the price)

ad9898_3

!!!!!!? wrote: »

and meat and fish at a whopping 22.9%!

http://news.bbc.co.uk/1/hi/business/7597703.stm

Meat and fish: +22.9%
Store cupboard/general: +15%
Fresh fruit/vegetables: +14.7%
Laundry/washing/paper: +14.4%
Drink: +6.8%
Pet food: +6.5%
Bakery/cereal: +6%
Frozen food: +5.8%
Household: +4.4%
Health & beauty: +0.4%
Ready meals: -0.4%
Dairy: -1.8%

Another nail in the coffin for chances of recovery in the housing market. With day to day living costs shooting up, people will be thinking really carefully before taking on large amounts of additional debt.

Bad news also for people who bought in the last couple of years and can just about make the payments on their monster mortgages ... worth noting that inflation of the price of the cost of living is very effective at taking away gains made from lower interest payments making debts cheaper to service.......

And people want lower interest rates, unbelievable, with food at 8.3%

SingleSue

It is also bad news for those of us on fixed incomes with no chance of getting any extra pennies to cover the increased outflow of money. Food shopping has now become incredibly depressing and leaves me feeling like a failure of a parent.

ultra10

I live not too far from a Tesco Extra, really big store, I ALWAYS go to the section at the back where they flog everything off really cheap.. So a fair part of my diet is dicatated by that, & what 2 for 1 offers are on, you will be amazed how much you can save !!!

Dan:_4

ad9898 wrote: »

And people want lower interest rates, unbelievable, with food at 8.3%

Peeople don't care that the weekly shop has gone up - it's easy to make some cut backs / change brand etc.....What they do want is their mortgage payments to decrease

Dan:_4

SingleSue wrote: »

It is also bad news for those of us on fixed incomes with no chance of getting any extra pennies to cover the increased outflow of money. Food shopping has now become incredibly depressing and leaves me feeling like a failure of a parent.

Sue, how can doing your weekly shop make you feel like a failure of a parent, please.

lostinrates

Dan: wrote: »

Peeople don't care that the weekly shop has gone up - it's easy to make some cut backs / change brand etc.....What they do want is their mortgage payments to decrease

For people with a lot of equity in their family homes (not bought at peak) I imagine a weekly shop can equal the mortgage payments over a month For people who own outright, I bet they care too, particularly the elderly, who might well own their houses but whose pensions are not keeping up with inflation, but are looking at huge bills to heat and/or eat. Just as not all of us are renters, not all are mortgage payers

WTF?_2

lostinrates wrote: »

For people with a lot of equity in their family homes (not bought at peak) I imagine a weekly shop can equal the mortgage payments over a month For people who own outright, I bet they care too, particularly the elderly, who might well own their houses but whose pensions are not keeping up with inflation, but are looking at huge bills to heat and/or eat. Just as not all of us are renters, not all are mortgage payers

And don't forget savers who see less return on their savings as well as increased inflation because of lower interest rates!

Inflation hits everyone. Interest rates hit people who borrowed more than they could cope with.

No surprises that people who borrowed a fortune to buy property and are now having problems servicing the debt would rather see the financial pain spread out to the entire population as opposed to just themselves. Just don't expect the rest of us to sit there and pay for your mistakes.

Dan:_4

People who have a lot of equity/own ourtight have very low/no mortgage payments to worry about - so I doubt an extra few quid a week will break the bank.

FWIW I haven't really noticed much difference on my weekly shopping bill anyway

vigesimal

Dan: wrote: »

FWIW I haven't really noticed much difference on my weekly shopping bill anyway

Ask your mum if she has seen a difference in the shopping bill. She will have.