UK Inflation Rate

Dird

A_Medium_Size_Jock wrote: »

Well with the average wage increase currently running at 2.5% according to the ONS that surely means that on average people are still ahead, yes?

How much are the top & bottom 10% skewing that pay rise though? Anyone on NMW & 25+ got a 7.5% increase this year

PeterPanic wrote: »

So once again savers get screwed and the reckless borrowers are rewarded. I am in the process of buying a house

So soon you will switch from a saver to a borrower & be rewarded

wotsthat

A_Medium_Size_Jock wrote: »

I have been noticing the increased price of crude oil - which is now hovering around the mid-$50's.
So little wonder diesel is up.
Still, when this voluntary production limit proves itself to be ineffective the price will again reduce, at least a little.

Oil has been trending upwards now for a year. Almost double this time last year. Meanwhile Sterling has been devalued by 14%.

According to petrolprices.com unleaded was up by 13% in 2016 and diesel by 15% and prices are higher again this month so clearly there are some inflationary pressures.

spadoosh

Dird wrote: »

How much are the top & bottom 10% skewing that pay rise though? Anyone on NMW & 25+ got a 7.5% increase this year

Hammond announced it will increase by around 4% in April. And with targets suggest of £9 p/h by 2020 thats about 6.5% a year till then.

Bearing in mind its been borderline tracking inflation over recent years.

michaels

You only need to look at today's Eurozne inflation figure to see how the Brexit vote has uniquely condemned the British to rising inflation, high unemployment and falling real disposable incomes...ooops

http://www.bbc.co.uk/news/business-38807942

snowqueen555

I've noticed prices of some products in Aldi have gone up a lot, they are also slowly bringing in more branded goods as well (sigh).

mayonnaise

snowqueen555 wrote: »

I've noticed prices of some products in Aldi have gone up a lot,

A lot?
As Bachman Turner Overdrive used to say, 'You ain't seen nothing yet'.

michaels

mayonnaise wrote: »

A lot?
As Bachman Turner Overdrive used to say, 'You ain't seen nothing yet'.

But prices are up less than they are going up in Euro land but lets not let the facts get in the way of a good prejudice.....

Thrugelmir

mayonnaise wrote: »

A lot?
As Bachman Turner Overdrive used to say, 'You ain't seen nothing yet'.

One hit wonders weren't they?

Jon_B_2

mayonnaise wrote: »

With manufacturing input prices at a whopping +15.8% YoY, I think your estimate will be a bit on the low side.

https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/producerpriceinflation/dec2016

I don't think it is. I work in the food industry and I'd imagine that a lot of producers will absorb a degree of the inflation, as will the retail and wholesale market. Certainly this price increase season has been largely pragmatic and only a few flare ups (think Unilever). It doesn't help that commodities have been going through the roof in addition to the devalued pound.

Don't forget manufacturers and producers have benefited from deflation for the last few years, so the need to pass on the full scale of input costs is not as immediate.

CLAPTON

Jon_B wrote: »

I don't think it is. I work in the food industry and I'd imagine that a lot of producers will absorb a degree of the inflation, as will the retail and wholesale market. Certainly this price increase season has been largely pragmatic and only a few flare ups (think Unilever). It doesn't help that commodities have been going through the roof in addition to the devalued pound.

Don't forget manufacturers and producers have benefited from deflation for the last few years, so the need to pass on the full scale of input costs is not as immediate.

it's a huge shame we can't import foods stuffs from non EU countries on a tariff free basis.