Cash getting eroded by inflation in the UK.

[Stillearly]

 

[galenkia]

On 8/22/2022 at 9:39 PM, galenkia said:

Wait until Truss becomes PM, fucking clueless about the economy, Will be absolute carnage.

Boris resigned then decided to go on holiday for the rest of his term.

This is the mess the current government has brought on this country.

As I said, fucking clueless about the economy. Appointed a chancellor as clueless as she is.

Labour would win an election easily.

Interest rates predicted to hit 7% soon.

[Stillearly]

Warning from Moodys rating agency ..

 

 

[Stillearly]

 

[Stillearly]

PM and Chancellor MIA ...

[Aqualung]

Just wondering if any BMs or their families and friends are fretting over the situation in the UK regarding inflation and interest rate hikes? 

I talked with my finance advisor today and my best mate who's clued up on finance. In fact, the advisor attended a meeting in Manchester today to discuss the issues. I know nobody has a crystal ball but he reckons it could be a good 2 to 3 years till things settle down again. Worst possible timing in my current situation imho. 

24 % decrease in my pension transfer pot..... Probably a drop in house prices as people won't be able to afford to pay a mortgage if I was to sell my property which is currently rented out. 

Outrageous cost of utilities. 

Even here in Sweden, the shit will hit the fan re the cost of living as many here have borrowed shit loads of money via loans, especially as winter nears. 

Thoughts please. 

[boydeste]

29 minutes ago, Aqualung said:

Just wondering if any BMs or their families and friends are fretting over the situation in the UK regarding inflation and interest rate hikes? 

I talked with my finance advisor today and my best mate who's clued up on finance. In fact, the advisor attended a meeting in Manchester today to discuss the issues. I know nobody has a crystal ball but he reckons it could be a good 2 to 3 years till things settle down again. Worst possible timing in my current situation imho. 

24 % decrease in my pension transfer pot..... Probably a drop in house prices as people won't be able to afford to pay a mortgage if I was to sell my property which is currently rented out. 

Outrageous cost of utilities. 

Even here in Sweden, the shit will hit the fan re the cost of living as many here have borrowed shit loads of money via loans, especially as winter nears. 

Thoughts please. 

I haven't taken too much notice of particulars, but why are you loosing 24% of your pension?

[Aqualung]

10 minutes ago, boydeste said:

I haven't taken too much notice of particulars, but why are you loosing 24% of your pension?

https://international-adviser.com/pension-transfer-values-fall-25-in-six-months/

Numerous websites will confirm Stewart. Especially the FT. 

It has affected most folks with company pension schemes over the last 12 months. Sad to say. 

Edited September 28, 2022 by Aqualung

[Aqualung]

13 minutes ago, boydeste said:

I haven't taken too much notice of particulars, but why are you loosing 24% of your pension?

24% of the transfer value mate. (CETV).... Cash equivalent transfer value. 

[boydeste]

7 minutes ago, Aqualung said:

https://international-adviser.com/pension-transfer-values-fall-25-in-six-months/

Numerous websites will confirm Stewart. Especially the FT. 

It has affected most folks with company pension schemes over the last 12 months. Sad to say. 

Ah OK, sorry, I thought it was something changed by the mini budget.

Yes, everything seems to be on it's ass right now.

[Aqualung]

16 minutes ago, boydeste said:

Ah OK, sorry, I thought it was something changed by the mini budget.

Yes, everything seems to be on it's ass right now.

Still hoping to meet you at a pool table mate. Snooker tables aswell. Do you still weald a cue? 

I've not picked one up for 8 years!!! 

[boydeste]

Just now, Aqualung said:

Still hoping to meet you at a pool table mate. Snooker tables aswell. Do you still weald a cue? 

I've not picked one up for 8 years!!! 

Eyes are not good enough for snooker now, but I ain't too shabby playing 9 or 10 ball on a 9 foot table, although I only play whilst on holiday in Thailand these days.

[Stillearly]

After listening to the local radio interviews this morning ... she should have probably stayed in hiding ... 

[Golfingboy]

Just read that starting today, Canadian merchants are legally allowed to tack on credit card fees to customers’ receipts. Thought that was already built into the price, don’t know what’s changed this year(besides high inflation obviously). This will push more people to use cash I’m sure, and IMO there should have always been some sort of discount for doing so. The guy who pays with bank notes instead of a juicy rewards CC, is enabling the business owner to keep way more profit

[galenkia]

Did some shopping at M&S on the way home from work earlier.

Few price rises I noticed from last Friday to this one.

Veggie curry tin - was £2.00 now £2.50 ( meat versions were £3.00 now £3.75).

2 litre diet lemonade - was £1.00 now £1.35.

Almond milk - was £1.65 a litre now £1.85.

Weetabix ( M&S own brand version 24 pack) - was £1.50 now £1.85.

And these are just a few items I remember from my basket. Huge increases in a small amount of time.

And Jeremy c**t's budget is hardly gonna help.

[Krapow]

[Butch]

Stuff is still going up despite what the media says.

Shredded Wheat now £3.50 for a big box. Chicken fillets are now £2.80 in my local Tesco, they used to be £1.80. Chicken wings, 1kg was £1.35 is now £2.20. eggs, WTF happened to the cost of eggs?. A tray of 15 was £1.49, now a tray of 10 is £1.80.

It's bloody ridiculous, we're getting shrinkflation on top of inflation and profiteering from the Supermarkets. Crisps are also ridiculous, the wankers at Walkers have made their previously 24 bags for £3.70 into 22 bags for £4.20.  Factor in that petrol is also going up, more blatant profiteering.

[Stillearly]

I took my summer duvet to the dry cleaners today ... £29 .... it was £26.40 for my winter one in May , up 10% it's almost cheaper to just buy a new one 555 

just checked ..new one £36 at Dunelm  😲

[Pumpuynarak]

7 hours ago, Stillearly said:

I took my summer duvet to the dry cleaners today ... £29 .... it was £26.40 for my winter one in May , up 10% it's almost cheaper to just buy a new one 555 

just checked ..new one £36 at Dunelm  😲

My 2 sons in the UK keep telling me about the rising costs of everything, i can't quite believe the prices they're quoting me  

[Butch]

The cost of insuring some cars is thru the roof. It's almost impossible to get insurance cover on a Range Rover sport and some other selected models in London now, and those with on street parking are looking at quotes of £6000 according to some sources!.

fuel on the increase which is hitting customer costs. Energy has decreased though.

My Car insurance went up by a few quid only, but I live rurally and do limited miles anyway, less than 5k per year nowadays.

 

[gs joe]

On 9/3/2023 at 9:53 PM, Butch said:

Stuff is still going up despite what the media says.

Shredded Wheat now £3.50 for a big box. Chicken fillets are now £2.80 in my local Tesco, they used to be £1.80. Chicken wings, 1kg was £1.35 is now £2.20. eggs, WTF happened to the cost of eggs?. A tray of 15 was £1.49, now a tray of 10 is £1.80.

It's bloody ridiculous, we're getting shrinkflation on top of inflation and profiteering from the Supermarkets. Crisps are also ridiculous, the wankers at Walkers have made their previously 24 bags for £3.70 into 22 bags for £4.20.  Factor in that petrol is also going up, more blatant profiteering.

Have noticed the not only a price increase on fresh fruit and vegetables 

the quantity has gone down ,

reports in the press of an increase in supermarket shoplifting, ,

[Pumpuynarak]

7 hours ago, gs joe said:

Have noticed the not only a price increase on fresh fruit and vegetables 

the quantity has gone down ,

reports in the press of an increase in supermarket shoplifting, ,

Yep i've been reading about self checking out (is that the correct terminology) and shoppers cheating the system which i believe is not that difficult to do.

[Stillearly]

6 hours ago, Pumpuynarak said:

Yep i've been reading about self checking out (is that the correct terminology) and shoppers cheating the system which i believe is not that difficult to do.

Some of it will be down to error , they are basically putting untrained people ( customers) on the checkout ... although they do random checks ... I think I've been checked two or three times in the last couple of years and they only rescan around five random items ...

but hard economic times will also make people take opportunities if presented..

[KhunDon]

17 hours ago, Butch said:

The cost of insuring some cars is thru the roof. It's almost impossible to get insurance cover on a Range Rover sport and some other selected models in London now, and those with on street parking are looking at quotes of £6000 according to some sources!.

fuel on the increase which is hitting customer costs. Energy has decreased though.

My Car insurance went up by a few quid only, but I live rurally and do limited miles anyway, less than 5k per year nowadays.

 

Just re insured 1 of our cars. A diesel C4 bought new in 2017 and which has 11k miles on the clock. 
We do less than 1,500 miles in it per year, (it’s my pub car)the rest of the time it just sits on the drive. 
Last year it was £163 fully comprehensive, this year it’s £297! 
The world has gone fucking mad. 😡

[Butch]

2 hours ago, KhunDon said:

Just re insured 1 of our cars. A diesel C4 bought new in 2017 and which has 11k miles on the clock. 
We do less than 1,500 miles in it per year, (it’s my pub car)the rest of the time it just sits on the drive. 
Last year it was £163 fully comprehensive, this year it’s £297! 
The world has gone fucking mad. 😡

That's a kick in the nuts. I have been very lucky this year, but some guys at work are looking at big increases, especially on the German stuff, even run of the mill Audi A4's and BMW320's etc.

They're scalping us basically. They know It's a legal requirement and they take the bloody piss.