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The rising cost of living


StefanAVFC

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Can't beat a bit of surf 'n' turf at the local Berni Inn, followed by a nice slice of black forest gateau. 

Washed down with a refreshing cinzano and lemonade. 

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7 minutes ago, Xela said:

Can't beat a bit of surf 'n' turf at the local Berni Inn, followed by a nice slice of black forest gateau. 

Washed down with a refreshing cinzano and lemonade. 

Nah. Stay at home with @bicksterfor a nice fondue. 

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Just now, Xela said:

If he's doing Findus crispy pancaks, potato waffles and beans (in a pot) then i'm there! 

Have you been rummaging round my kitchen? 

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Fuel price continues to creep down here, I can now get diesel at 147.9p a litre.

Good timing as I need to fill up this weekend for some time away over half term.

Edited by Genie
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36 minutes ago, Genie said:

Fuel price continues to creep down here, I can now get diesel at 147.9p a litre.

Good timing as I need to fill up this weekend for some time away over half term.

I was in Shropshire last week doing work and a Texaco there had Diesel at 146.8p

It was a blessing as I was also running on near empty at the time so managed to fill the tank.

Hopefully prices continue to fall elsewhere.

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1 hour ago, Genie said:

Fuel price continues to creep down here, I can now get diesel at 147.9p a litre.

Good timing as I need to fill up this weekend for some time away over half term.

That is still high, not the two garages I always talk about but there are now chain garages and supermarkets at £12.41.9 around here for diesel

Also I spotted a big chain garage this morning where diesel was cheaper than petrol

On the other hand I'm also still seeing garages charging well over £1.50 a litre too. The price at the pump in most instances is still artificially inflated and the government don't care because they are still raking in (looks at reciept) £1.67 plus all the fuel duty for every tenner spent at the pump

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2 minutes ago, bickster said:

That is still high, not the two garages I always talk about but there are now chain garages and supermarkets at £12.41.9 around here for diesel

Also I spotted a big chain garage this morning where diesel was cheaper than petrol

On the other hand I'm also still seeing garages charging well over £1.50 a litre too. The price at the pump in most instances is still artificially inflated and the government don't care because they are still raking in (looks at reciept) £1.67 plus all the fuel duty for every tenner spent at the pump

I agree that it’s still pricey compared to other towns. Birmingham is cheaper than Tamworth which never used to be the case. I guess all the garages in Tamworth are just setting themselves against each other rather than what the price should be.

The investigation into the pricing at supermarkets seems to have had an impact as they’ve been steadily dropping their prices since it was announced. 

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Plonker government are trying to say inflation is dropping but there's more than meets the eye. Shamelessly stolen from Reddit - 

 

 

To explain why this month's reading is incredibly bad even though it's a drop in the headline rate - it's all to do with the point of comparison that we're measuring it from ("base effects").

Inflation rose from 7.0% to 9.0% in the same month last year - a 2% rise off the back of the huge jump in gas and electricity bills in April 2022. That was the largest jump on the way up, and if things were running smoothly we'd expect a similar drop in the headline rate this month as those effects fall out of the figure as energy prices didn't rise even further from March 2023's level in April 2024. If inflation was actually getting better, we'd hope to see a bigger drop than that.

Instead, the drop has only been from 10.1% last month (already higher than analysts had expected) to 8.7% this month - just a 1.4% drop.

And these figures compound. So prices are now 18% higher than they were two years ago according to the CPI and 24% higher than they were two years ago according to the RPI. Those are the worst 24 month figures for about 40 years!

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2 minutes ago, VillaJ100 said:

Plonker government are trying to say inflation is dropping but there's more than meets the eye. Shamelessly stolen from Reddit - 

 

 

To explain why this month's reading is incredibly bad even though it's a drop in the headline rate - it's all to do with the point of comparison that we're measuring it from ("base effects").

Inflation rose from 7.0% to 9.0% in the same month last year - a 2% rise off the back of the huge jump in gas and electricity bills in April 2022. That was the largest jump on the way up, and if things were running smoothly we'd expect a similar drop in the headline rate this month as those effects fall out of the figure as energy prices didn't rise even further from March 2023's level in April 2024. If inflation was actually getting better, we'd hope to see a bigger drop than that.

Instead, the drop has only been from 10.1% last month (already higher than analysts had expected) to 8.7% this month - just a 1.4% drop.

And these figures compound. So prices are now 18% higher than they were two years ago according to the CPI and 24% higher than they were two years ago according to the RPI. Those are the worst 24 month figures for about 40 years!

This is bollocks, percentage don't work like that

As an example

A 20% rise on £100 iis £120

A £20 fall on £120 is a 16.6% fall

You are back to £100

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1 hour ago, bickster said:

This is bollocks, percentage don't work like that

As an example

A 20% rise on £100 iis £120

A £20 fall on £120 is a 16.6% fall

You are back to £100

Ahhh thanks for letting me know I'll tell u/mompounder69 they got it wrong

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3 hours ago, bickster said:

This is bollocks, percentage don't work like that

As an example

A 20% rise on £100 iis £120

A £20 fall on £120 is a 16.6% fall

You are back to £100

You’re right in your worked example, but I don’t get how it relates to the post you’re quoting 

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51 minutes ago, foreveryoung said:

Price cap dropped, but government help will be finishing, so aren't we just in the same boat??

Prices have dropped significantly and expected to drop again in July. No need for government support anymore (for most, some will need some help).

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21 minutes ago, Genie said:

Prices have dropped significantly and expected to drop again in July. No need for government support anymore (for most, some will need some help).

Price cap still 70% more that 2 years ago.

I guess the energy companies still need a few more billion back, they lost in lock down.

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1 hour ago, foreveryoung said:

Price cap dropped, but government help will be finishing, so aren't we just in the same boat??

Governments energy price guarantee was £2500 but between October and March everyone was also getting £400 paid over 6 months (worked out around £66 a month). Meaning average household were paying £2100 a year.  The price cap is now £2074 so £26 difference. 

Edited by markavfc40
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30 minutes ago, Genie said:

Prices have dropped significantly and expected to drop again in July. 

This latest price cap is from July. Cornwall insights predict from October the price cap for average household will be £1976 (they predicted £2054 from July so were only £20 under). From January 2024 they predict £2045. 

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