Think inflation worries are over?

A._Badger

It's intriguing that some commenters appear not to read the other boards on this forum. Hard-nosed shoppers posting on MSE, who carry in their heads the actual prices of foods, so notice the nickel and diming that has been taking place, have been complaining about this for weeks - and rightly so, too.

But, as I remarked on a thread here here yesterday (though two commenters refused to believe me) this is simply the tip of an inflationary iceberg that is on the horizon.

Importers of all kinds of products are currently tearing their hair out trying to cope with price rises that range from 20 to an amazing 80 per cent, in one case I've come across.

This is due to a combination of factors, but mostly the collapse of the pound and the (largely unreported) manufacturing crisis in China.

Anyone contemplating buying a piece of hardware made in China (whether it's a camera lens, a printer or a piano) should either buy it now, be prepared to pay a heck of a lot more in a few months time, or wait a very long while in the hope that the price will come down again in a year's time.

mewbie_2

A._Badger wrote: »

Anyone contemplating buying a piece of hardware made in China (whether it's a camera lens, a printer or a piano) should either buy it now, be prepared to pay a heck of a lot more in a few months time, or wait a very long while in the hope that the price will come down again in a year's time.

OR. Simply not buy it at all.. ever. We have had ten years of buying useless fashionable tat that is not really necessary to life. Maybe its time for a change of behaviour?

Really2

Fuel inflation is down loads (petrol low and home energy to drop by 7.5-10% over the next month)

So yes food inflation may be 9% (I belive it was higher in DEC so it is falling)
but other items are dropping so I do not think inflation is a worry what so ever in the short term. (unless you planing to buy imported electrical goods etc)

itsnever2lateisit?

I agree Badger, I take it you are refering to the Old Style board, and ny thread yesterday regarding the part of inflation in the current economic climate. I am still of the belief that the oil price shock of 2006-2008 was the primary cause, which triggered loan defaults, initially in the USA and in turn the 'credit crunch' which made things a whole lot worse. IMHO the credit crunch was NOT the primary cause

lostinrates

Badger my oyster prices are real. In fact while I'm not going to risk itemising my shopping basket I do know prices of what I buy for my week time shop, and of course of straights, which I buy for the critters, and the rise on those has been quite uncomfortable this year.

Kez100

Are Oysters in season? That might account for a difference

Really2

Kez100 wrote: »

Are Oysters in season? That might account for a difference

I would not think shell fish have a season they are non migratory.
Perhaps like most thing lower demand ate the moment as lowered the price.

lostinrates

Months with Rs in them for shellfish.

Petrol is also going back up locally

ETA: lower demand? lower demand in February, the month that has Saint Valentine's day in it, when people who never eat oysters might try one as a bit of an aphrodisiac?

ManAtHome

Rochdale_Pioneers wrote: »

He also made the point that the recession has been a bonanza for farmers - the competitive pound has meant a huge increase in exports which has pushed farm gate prices up 40%.

As the OP said... worse to come.

Really2

lostinrates wrote: »

Months with Rs in them for shellfish.

Petrol is also going back up locally

It did at the start/middle of last month (well since the £ droped)
But I filled up today diesel was 98.9 it was 99.9 weeks ago. (Sorry was 102.9p start-mid FeB)

But there is no doubt YOY petrol is well down.