This is a principle every consumer has experienced: Official inflation is low, and there is scaremongering by central banks and the media about deflation even. But in reality, when it comes time to buy big-ticket items, prices are much higher than they’d been a few years ago. Everyone who bought new vehicles over the years knows this. It’s called “sticker shock.” But it purposefully doesn’t show up in the inflation numbers.
Shoppers will be hit by a 5 per cent rise in food prices as supermarkets struggle with a post-Brexit slump in the pound, a former supermarket chief warned.
Former Sainsbury’s CEO Justin King said the fall in the value of Sterling has created a ‘profound problem’ and warned the worst was still to come.
H/t reader squodgy:
“Official Government figures for inflation have been fudged for thirty years by removing items considered ’embarrassing” from the Government Official Consumer Shopping Basket. That is so insulting.
A major UK grocery retail supermarket has warned that in the first quarter of 2017 alone, prices of basic commodities such as bread, vegetables and dairy WILL rise by about 5%. That computes to 20% or a one FIFTH increase next year.
They blame Brexit, but common sense points to weather manipulation, Herbicide effects (diminishing returns), GMO effects (diminishing returns compounded) etc.That’s just food. We could easily feed ourselves from healthy natural crops before Monsatan interfered, and other factors such as……
The OPEC output reduction deal can only increase the costs of transport, travel, heating, power.
This must result in higher prices for everything we take for granted, so the only way forward is by prioritisation of household needs. (Do we really need designer clothes, perfumes etc?)
I firmly believe fashion and its associated addictions are so embedded in our culture via clever and persistent (continuous in your face…is it cool?) marketing followed by planned obsolescence (a uniquely jewish invention) will all have to be carefully reconsidered and brought into the fold of necessities.
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