Hyper inflation!!

[Applepie21]

Apart from energy bill, in what other area have you noticed price increase? A few random examples I experienced recently are:
My cleaner has gone from £13 to £17 ph
Banana from 73p to 89p per kg
Egg noodles 99p to £1.15
5kg Rice £5.5 to £8
Council tax up by 80£ per year
'cheap n cheerful' pub meals £9.9 to £10.9

Have you seen Jack Monroe's recent article about inflation for the poorest people vs what is published as the headline rate of inflation ?

here

This is what happens when governments print money like it’s going out of fashion. In order to pay for lockdowns. Every advocate of more restrictions must remember that the irrational hysteria has a price that will be paid for a long time to come. More people will be killed by the poverty caused by printing money and ensuing inflation, than Covid itself.

Taxi fare journey has gone from £12 to £15. That's an extra £24 a month as we use them twice weekly for school.

I've noticed Ikea's prices have gone up by a few pounds. Maybe not everything but most of the things I was looking at before Christmas.

And we've had a £100 pcm rent increase!

I'm not sure you know what hyperinflation is.

When you go in the supermarket with enough money to pay for your food and by the time you get to the checkout it's not enough, that's hyperinflation.

Though that is quite a leap from your cleaner.....

@sst1234

This is what happens when governments print money like it’s going out of fashion. In order to pay for lockdowns. Every advocate of more restrictions must remember that the irrational hysteria has a price that will be paid for a long time to come. More people will be killed by the poverty caused by printing money and ensuing inflation, than Covid itself.

Pffffft. Try a look at the business pages. Economists in their overwhelming majority have been quite clear that the current price rises are supply- rather than demand-driven. Simply, there's just been too much disruption to supply chains, from transport and distribution (shipping disruption, containers in the wrong places) to production including Brexit effects - just wait for the price of daffodils to shoot up in the next months without harvest workers. Restricting liquidity may not help much.

OP - valid observations and agreed on the dire social consequences ahead. But YABU to resort to the "hyperinflation" hyperbole. My grandparents and great-grandparents lived through hyperinflation, and it's a different order of magnitude altogether- imagine if the proceeds from selling your family's pharmacy could only buy you a few packs of cigarettes mere months later because inflation is running at in the quadruple or quintuple digits and people end up paying with fistfuls of banknotes.

Anecdotes are not consistent, accurate data.

I've seen the tweets. One supermarket didn't have 45p rice on their online shop and loads of people have replied with photos of supermarket shelves with the cheap items still on sale. But that's no different than a decade ago - the cheapest ranges weren't available online then, either.

My anecdotes are that the eggs I buy are 20p cheaper than they were in 2017, the protein shakes I buy are £3 cheaper than they were in December, the steak's gone up a bit but it's winter. The bread and pasta are consistently more expensive because of celiac, so I'm not going to be buying the 29p packs that are still in the supermarkets, the bag of rice I bought was no different in cost, the dishwasher tablets are half the cost they were last week and the chicken is £1.20 cheaper.

But, same as Daily Venom headlines about Diana and Cancer, causing fear about bills gets people clicking on links and people on the TV, I guess.

Wait until you are taking wheelbarrows of £20 notes to the corner shop OP, then you'll know what 'hyperinflation' really means.

Hyperinflation may be an overstatement but Op us right to point out that this is out of the ordinary in the UK. Not least because we are a structural low wage economy after decades of state subsidies to support low pay through welfare. This has damaged those on PAYE no end. And now wage increases are struggling to keep up with inflation. We have at the same time low unemployment and low wages as well Covid related money printing madness, all creating a huge problem for cost of living.

It's nowhere close to hyperinflation. Maybe Google it to see what happens to countries where it is actually a problem

Agree that describing those price rises as hyperinflation is somewhat of an over reaction.

Some of those price rises are either due to things being incredibly cheap, eg bananas, rice, pub meals - I have no idea how the cheap and cheerful places make a profit on sub £10 beer and burger type deals. They probably don't if that's all you buy as they expect you to buy extra full price drinks/desserts/go back again and spend more later.

Or things being kept at a '99p' price for ages so when the price rise does come, it looks bigger.

I did read not long ago that a lot of younger adults haven't really experienced price rises before as prices have been very stable for the last 10-15 years, but the reality is that a lot of consumer goods and food in the UK is still comparatively cheap compared with average wages and the relative costs in other countries - people in many other countries still spend a far higher percentage of their income on essentials than most people in the UK do.

Although it will be a very big struggle for poorer people, the effect on the majority will be a squeeze on disposable income, rather than genuinely struggling for money.

Any other new words people have learnt today that they don't understand and use incorrectly?

Thanks to the poster noticing eggs are cheaper now than in2017.

Farmers electricity prices are rocketing. Labour costs increasing. Feed costs rocketing.

But you can buy eggs cheaper than 5 years ago.

Well energy is used for everything so it figures that the cost of everything is about to go up, not just your personal energy bill.

@flowerycurtain

Thanks to the poster noticing eggs are cheaper now than in2017.

Farmers electricity prices are rocketing. Labour costs increasing. Feed costs rocketing.

But you can buy eggs cheaper than 5 years ago.

My point was that you need actual data, not vague notions and hyperbole. I could find something that has gone up, but when people make a living from social media, there isn't a will to get actual testable, replicable data that might contradict their claims that get attention/income. Because they make a living from those opinions and attention and would look for things that support their claims, not necessarily the truth.

As per the cheap rice claims. Don't see it online, so it doesn't exist anymore? No. It's still in the shops. Might be out of stock on a day you go, back on the shelf after the next delivery. But that doesn't get a viral tweet and work appearing on TV or in papers that just want clickthroughs and sales.

With Jack's words, yes the devil is in the detail BUT the concept of her tweets is fair enough.

The items that people on a budget buy aren't commonly tracked
Any increase disproportionately affects those already on an extremely tight budget
We're heading into an exceptionally tonight time for those who NO disposable income and already watch every single penny.

These people are often castigated as being bad at budgeting, but I believe it's the opposite for the majority. They make every penny count. Every spend matters.

Inflation rate in Turkey was 36.1% in December. 5.4% in the UK is not hyperinflation.