Quote from: johnnycool on November 16, 2022, 03:48:02 PMNot 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.Quote from: Milltown Row2 on November 16, 2022, 02:58:09 PMQuote from: tbrick18 on November 16, 2022, 02:48:32 PMQuote from: RedHand88 on November 16, 2022, 01:25:41 PMQuote from: tbrick18 on November 16, 2022, 12:13:30 PM
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.