Things that make you go What the F**k?

[RedHand88]

11.1% inflation.

Highest since the 70s.

It's depressing.

[bennydorano]

Expected to be the (UK) peak tho, hopefully anyway.

[tbrick18]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

[Milltown Row2]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

If we keep increasing the wages the prices will go up to match that also

[armaghniac]

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

Only someone young would think that.
However, things like Gas prices might actually come down in 2 years, depending on how things work out.

[seafoid]

Sport compromised and Qatar

https://youtu.be/kRY2bLqaCj0&t=4680s

[johnnycool]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

If we keep increasing the wages the prices will go up to match that also

No they won't.

This inflation is not due to excess demand, it's due to material sourcing costs rising AND getting ripped off by the BP's of the world.

Don't buy the lie.

[mackers]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

If we keep increasing the wages the prices will go up to match that also

No they won't.

This inflation is not due to excess demand, it's due to material sourcing costs rising AND getting ripped off by the BP's of the world.

Don't buy the lie.

Not sure I follow your thinking there.  Increased wages are an increased cost to suppliers/retailers.  An increased cost that will most likely be passed on to consumers by increased prices??  Thereby fuelling further inflation.

[Milltown Row2]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

If we keep increasing the wages the prices will go up to match that also

No they won't.

This inflation is not due to excess demand, it's due to material sourcing costs rising AND getting ripped off by the BP's of the world.

Don't buy the lie.

Was a 'smarter' economist on radio this morning and he explained it, but hey I'm only an aul welder 

[Wildweasel74]

Where since time began have you ever seen the price of food go down, if things get sorted, inflation etc, costs go down, suppliers will only end up making more profit as they not be reducing  prices.

[nrico2006]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

Think I asked that question a few months back here, i.e. does 'deflation' ever happen?

[Tony Baloney]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

Think I asked that question a few months back here, i.e. does 'deflation' ever happen?

Yes. I'm pretty sure there was a short period of deflation in the mid 2010s. If not deflation it certainly was at 0%.

[seafoid]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

Think I asked that question a few months back here, i.e. does 'deflation' ever happen?

It happened for most of the last decade

[GiveItToTheShooters]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

Think I asked that question a few months back here, i.e. does 'deflation' ever happen?

It happened for most of the last decade

Any examples to back that up?

[johnnycool]

11.1% inflation.

Highest since the 70s.

It's depressing.

What's even more depressing, according to Martin Lewis - and I never really thought of it like this, reducing inflation doesnt reduce prices.
Lets say inflation reduces to 5% next year.
Something that cost £100 last year, costs £111.10 this year.
@5% inflation next year that same item will cost £116.65.
So costs are going to keep going up.

If we keep increasing the wages the prices will go up to match that also

No they won't.

This inflation is not due to excess demand, it's due to material sourcing costs rising AND getting ripped off by the BP's of the world.

Don't buy the lie.

Not sure I follow your thinking there.  Increased wages are an increased cost to suppliers/retailers.  An increased cost that will most likely be passed on to consumers by increased prices??  Thereby fuelling further inflation.

Yes, if the original reason for the inflation was excessive demand in the economy, but this wasn't the case this time round, it was a huge increase in cost of resources, i,e, gas/oil coupled by corporate greed.

There have been no pay rises in real terms in the public sector for near on 10 years, and the private sector has hardly raced ahead either so it wasn't huge pay rises that caused inflation to hit 11%, so what was it in your opinion?