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jamb0_1874

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How accurate do we all think the 5.4% inflation figures released this morning are and with big energy hikes on the horizon how high are they going to go, or at least be reported to go? 

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Working in engineering and watching costs.

Electrical components are causing huge concern and turning to a bidding war to get parts required. Probably these don't affect inflation  don't know.

 

Price of cars are horrendous, its a sellers market.

 

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Dennis Reynolds

5.4% sounds about right. Energy costs will probably push that up unless something is done. The cost of things is continuing to increase. I've noticed it on the weekly shop. Haven't really changed what I'm buying but probably spending an extra £10/£15 a week now.

 

7 minutes ago, Tommy Brown said:

Price of cars are horrendous, its a sellers market.

 

Sold my car a few months ago. Got not far off the same price I payed for it nearly three years ago. Nearly £2000 over the finance I had left on it. Absolutely mental. Great for me obviously but I'll be looking to get a new car in spring/summer and was hoping things would have calmed down by then. Not so sure anymore.

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13 minutes ago, Tommy Brown said:

Working in engineering and watching costs.

Electrical components are causing huge concern and turning to a bidding war to get parts required. Probably these don't affect inflation  don't know.

 

Price of cars are horrendous, its a sellers market.

 

I'm in a similar situation, although in construction, where the prices for pretty much everything have easily risen by over 50% in the last year. Which was the main reason I raised the question as 5.4% just seems very conservative to me. 

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WorldChampions1902

I refuse to acknowledge the CPI rate as my inflation figure 5.4%. I always defer to RPI which has been announced today as 7.5%. Unsurprisingly, the government uses both rates to its own advantage. For example , rail fare increases are calculated using the higher RPI but State Pensions are masked on the lower CPI measure. Another wheeze to screw the masses.

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21 minutes ago, manaliveits105 said:

The Arabs are taking the piss 

Well Dundee United are certainly short changing their own supporters.

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This is going to be the first time that a lot of people have experienced rising inflation, energy bills, fuel, mortgage, food, interest rates.......well just about everything.

 

They were saying on the news that energy bills are set to become the highest since the 1970's when the price cap is increased in a few weeks time, I've noticed our food shop is costing more and Mrs JJ has noticed a big difference in petrol, whereas £60 pm would usually have done her for work it's now £80+ and counting. 

 

We are all going to be feeling the pinch in the coming months, I'm afraid.

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2 hours ago, manaliveits105 said:

The Arabs are taking the piss 

While Scotland floats on hydrocarbons we are not allowed to access.

 

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I live such a modest lifestyle that I don't actually notice too much with most things. It is hard however to not notice the gas and electricity hikes though.

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4 hours ago, Ray Gin said:

Prepare for your energy bills to nearly double.

 

Mines has already doubled since late 2020.  Likely to go up by at least another 50% this year.   At a guess, our food shop is 20% higher than what it was 6 months ago.      

 

In among genuinely justifiable  price increases being passed on, I suspect there's considerable opportunist profiteering going on under the guise of Covid & Brexit.

 

No wonder this chap is laughing -

 

image.jpeg.44a814b6df5b070f975e019758c2e6a5.jpeg

 

 

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37 minutes ago, JackLadd said:

Don't turn the gas on basically.

Feel sorry for aulder folk scared of putting the fire on, its a disgrace the price hike.

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Fecking shocking the price of Gas/Electricity/Petrol/Diesel. Cannae get a new part for my car window either. Only the dealer has the part and they have tripled the price . Brexit apparently.

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8 minutes ago, Harry Potter said:

Feel sorry for aulder folk scared of putting the fire on, its a disgrace the price hike.

 

Thankfully it's still quite mild. 

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WorldChampions1902
1 hour ago, Harry Potter said:

Feel sorry for aulder folk scared of putting the fire on, its a disgrace the price hike.

I have an elderly neighbour (in her 90’s) whose fixed energy deal is ending in a Feb. Poor girl has been fretting for weeks about how this will impact her frugal income. She receives a State Pension and a much smaller NHS pension and knows that her new bill will be more than double.
 

There must be millions of people in a similar predicament. The government needs to get their collective ar*es into gear and do something to help these poor unfortunates. But they’re too busy gaslighting, lying and denying.

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The Mighty Thor
12 minutes ago, WorldChampions1902 said:

But they’re too busy gaslighting, lying and denying.

None moreso than spaffer today telling the Commons his government has been cutting the cost of living.

 

He's done his best to reduce the number of people living but that's about it. 

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The Mighty Thor
3 minutes ago, Footballfirst said:

Martin Lewis (Money Saving Expert) on future fuel bills

 

 

**** me!

 

That's going to utterly devastate those on the lowest incomes

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Stagflation has been a reality for about a year or so now.

Just not officially declared.

 

Spending is down; so usually you'd slash interest rates to discourage saving, make borrowing cheaper and encourage people to spend spend spend.

But inflation is high; and usually you'd push interest rates up to bring it back down via a combination of making savings rates attractive and making borrowing money more expensive.

 

Stagflation means that interest rates alone won't work to remedy the situation.

Tough times ahead.

Energy price cap about to be lifted.

More and more Brexit disruption on the way also.

 

Buckle up. 

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If you have a modest wage where a significant part of your income goes on housing costs, gas & electricity, council tax, transport (to get to work, the shops, etc) and food then inflation is way above the ONS numbers. I would hazard a guess that it’s nearer 15-20-% - and that’s before the April energy cap hike. 
 

If the BofE start to raise interest rates - as is widely predicted - then housing costs start to accelerate too. 
 

Folk say that this happened in the 70s, folk got by as best they could, etc - but house prices have massively outstripped wage increases since then and so housing costs is a far bigger % of people’s salary now than back then. 
 

I’m not convinced this is a temporary blip in terms of oil and energy prices, I think this is a shift change to high living costs and that the days of moderately cheap food, gas and electricity are over. 
 

Tough times ahead for a huge number of people. 

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Jambo_jim2001
5 hours ago, Harry Potter said:

Feel sorry for aulder folk scared of putting the fire on, its a disgrace the price hike.

I've just put some free clugs on my fire with half a pail of coal,, that'll keep me nice and cosy till tomorrow afternoon.glad I'm not relient in gas or electric.im on average 30 quid a week all in..poor sods in Hunsville are on average 50 to 100 quid a day just now for the fancy thermoflo wet electric heating.the council went ahead and put it in even though they knew it was expensive,hopeless and problematic.my lassie stood up to the council and she is the only one in her street when it snows her roof is clear..tbh I'm surprised the drug squad haven't raided her thinking she has a cannibis grow,, renationalise the lot of the power companies.

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31 minutes ago, skinnybob72 said:

If you have a modest wage where a significant part of your income goes on housing costs, gas & electricity, council tax, transport (to get to work, the shops, etc) and food then inflation is way above the ONS numbers. I would hazard a guess that it’s nearer 15-20-% - and that’s before the April energy cap hike. 
 

If the BofE start to raise interest rates - as is widely predicted - then housing costs start to accelerate too. 
 

Folk say that this happened in the 70s, folk got by as best they could, etc - but house prices have massively outstripped wage increases since then and so housing costs is a far bigger % of people’s salary now than back then. 
 

I’m not convinced this is a temporary blip in terms of oil and energy prices, I think this is a shift change to high living costs and that the days of moderately cheap food, gas and electricity are over. 
 

Tough times ahead for a huge number of people. 

100 percent agree with this. I have moderately well paid job but I rent and live alone. Between energy increases, council tax (even with the 25percent reduction), and inflation this year is really becoming something I am concerned about. Instead of being hopeful of a good year in January, I am now just hoping I can afford the cost of living on basics. I really sympathise for those with dependents on a low income. Gonna be another brutal year. Depressing stuff

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This is going to cause more grief than coronavirus. 

The price Food, Gas, Fuel, electricity etc... and then add on the NI rise, we'll all be fecked. Well, except the crooks at the top.

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The Mighty Thor
8 hours ago, Tazio said:

Interesting thread on real price increases. 
 

 

That really brings it home. 

 

There will be tough decisions for a lot if families in the very near future. 

 

The problem we face is that the utter ***** running the country have never had a hungry day. 

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WorldChampions1902
36 minutes ago, The Mighty Thor said:

That really brings it home. 

 

There will be tough decisions for a lot if families in the very near future. 

 

The problem we face is that the utter ***** running the country have never had a hungry day. 

That is a very thought provoking Tweet with a powerful message.

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Malinga the Swinga
16 hours ago, ri Alban said:

Fecking shocking the price of Gas/Electricity/Petrol/Diesel. Cannae get a new part for my car window either. Only the dealer has the part and they have tripled the price . Brexit apparently.

There is a lot of profiteering going on as the petrol companies make money on what they believe they lost over last 18 months.

Nothing to do with Brexit, just greed.

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WorldChampions1902

It never ceases to amaze me how ignorant some people are about the effects of inflation. To a degree, our very low inflation rates over many years has made this topic nothing to worry about, so people haven’t really had to ponder it’s implications. Well s**t just got serious and this is starting to hurt.

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13 hours ago, Jambo_jim2001 said:

I've just put some free clugs on my fire with half a pail of coal,, that'll keep me nice and cosy till tomorrow afternoon.glad I'm not relient in gas or electric.im on average 30 quid a week all in..poor sods in Hunsville are on average 50 to 100 quid a day just now for the fancy thermoflo wet electric heating.the council went ahead and put it in even though they knew it was expensive,hopeless and problematic.my lassie stood up to the council and she is the only one in her street when it snows her roof is clear..tbh I'm surprised the drug squad haven't raided her thinking she has a cannibis grow,, renationalise the lot of the power companies.

 

She should get better insulation in the roof!

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11 minutes ago, Footballfirst said:

Another price increase in the pipeline

 

 

They all just follow each other. Virgin prices are going up by 8.5% soon as well. 

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WorldChampions1902

And just before Christmas, Clownshoes stated quite categorically that fears about inflation were quote, “unfounded”.

:cornette:

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Footballfirst
1 hour ago, WorldChampions1902 said:

And just before Christmas, Clownshoes stated quite categorically that fears about inflation were quote, “unfounded”.

 

At PMQs yesterday, in answer to Kier Starmer's last question, he said "we have been cutting the cost of living".

No-one picked him up on it.

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WorldChampions1902
1 hour ago, Footballfirst said:

At PMQs yesterday, in answer to Kier Starmer's last question, he said "we have been cutting the cost of living".

No-one picked him up on it.

I heard him saying that and have passed the stage of ranting at the TV. What really grates my gears though is the unrelenting excuse-making and dismissive comments in Clownshoes defence. Even now, after all his sh*t, there are millions of these morons ready to defend him. Unbelievable.

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Jambo_jim2001
9 hours ago, SUTOL said:

 

She should get better insulation in the roof!

She has been at Falkirk council on a regular basis to get it looked at for a few years tbh..late with one rent or council tax payment different story there..if she gets insulation done,, maybe could supplement her income with a grow😂

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  • 2 weeks later...
WorldChampions1902
On 20/01/2022 at 04:16, ri Alban said:

This is going to cause more grief than coronavirus. 

The price Food, Gas, Fuel, electricity etc... and then add on the NI rise, we'll all be fecked. Well, except the crooks at the top.

The French government nailing the energy price hikes is to be applauded. Imagine how much misery that could be avoided, if the U.K. Junta did the same?

16DA77C2-F034-4226-98AA-36447C044DB1.jpeg

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Салатные палочки

Watching the counter on the diesel pump go from 00.00 to 32.00 at the speed of light is so depressing. Can't wait to start working from home more regularly again. 

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What's the general smart/least bad play in this kind of scenario?

 

Save, spend, invest, panic, keep calm? Insulate your home and dig out the blankets as a starter of course.

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2 minutes ago, Taffin said:

What's the general smart/least bad play in this kind of scenario?

 

Save, spend, invest, panic, keep calm? Insulate your home and dig out the blankets as a starter of course.

Interest rates going up to stop borrowing, anaw.

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WorldChampions1902

Ponder this.

 

The energy sector has been predicting todays price rise hike for months. They got it bang on.

Same experts have also been predicting 20-25% energy price increases in October.

Todays Bank of England announcement of inflation peaking at 7.25% in April completely ignores the October price rise prediction and instead shows a steady reduction throughout the remainder of this year. WTF.

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