Inflation

[Mess 616]

I've just seen a report that says price inflation will hit 18.6% next year. That's scary.

In common with many on here I well remember when it hit 24% back in 1974.

I was working in my second job since leaving Uni and IIRC that summer I was awarded a 25% pay increase. Whilst I was very pleased I soon realised that I hadn't really advanced much at all because the prices of most things (especially mortgages) were much more expensive than the previous year. Back then I used to take it on the chin and just get on with raising a family.

This time however I feel rather differently about it.

I've been retired for about 5 years now and am in receipt of a decent occupational pension which purports to rise in line with inflation. Now the government has restored the triple lock the state pension is reported to be substantially increased in the November budget. All good news.

What's irritating the arse off me though is how so many retailers have inflated their prices way beyond the reported inflation rate.

I used to be a big fan of Tesco but I find myself shopping in Aldi more and more. Do Tesco think we poor punters can't do arithmetic? Last year 4 pints of milk was 99p now it's £1.60! You don't even need a calculator to work out that's over a 60% increase and there are many other inflation busting increases as you go round the store. A tin of dog food was 55p last year, now it's £1. That's a whopping 75% increase. 

Who's driving these prices up? Is it the manufacturers or the retailers? I think they're both at it myself but I could be wrong. I'm getting more and more fed up with them both using inflation as an excuse to increase their prices disproportionately. I think they're still trying to claw back their lost profits from the COVID lockdown(s)

Rant over but interested in others views and experiences.

 

[benjamin1945 16,139]

Even these rich folk are going on strike....inflation makes the wealthy richer...and the poor Poorer...

[David sheridan 159]

Leo mckern top actor !

[DJ360 6,721]

The whole point of the Barrister's strike is that very few of them earn a good living, and that is largely a result of deliberate cost cutting in the legal system by this Tory govt.

Whilst it is true that much of the inflationary pressure is the result of Putin's aggression and the knock on effects of the pandemic, the Tories have not helped and constantly seek to appease big business and shareholders before bothering about starving kids.

 

And of course everybody in the supply chain, from producers, to manufacturers, distributors and retailers are all free to put up their prices .in response to increasing costs...that is taken as perfectly acceptable. Yet when the workers at the bottom of the heap seek to do the same... it is they who get accused of 'fuelling  inflation'.

Makes me sick.