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There are signs of food price inflation.

This was on ZeroHedge today. It’s not the best article but does highlight that food prices are rising.

https://www.zerohedge.com/commodities/global-food-prices-rise-seventh-consecutive-month

I notice Intrepid Potash announced that they’d agreed significantly higher prices for Potash. Which again ties into the expectation of higher food prices.

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10 minutes ago, macca said:

Its been running riot for years

Cars for example

2008 VW Polo SE £5995

2020 VW Polo SE £16'995

Okay so it has a screen that cost £20 from China and a £5 blue tooth device..

But its not £11'000 more of car..

Inflation

B-b-but hedonic adjustment! 

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13 minutes ago, macca said:

2008 VW Polo SE £5995

I think that price is a little light but all the internet wants to do is flog me a used one.

Yep, got it, cheapest was the 1.2 E with the crappy 60PS engine at £6890.

SE had 4 more PS as well.

https://www.parkers.co.uk/volkswagen/polo/hatchback-2002/used-review/

Edited by Chewing Grass
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The 

8 hours ago, macca said:

Its been running riot for years

Cars for example

2008 VW Polo SE £5995

2020 VW Polo SE £16'995

Okay so it has a screen that cost £20 from China and a £5 blue tooth device..

But its not £11'000 more of car..

Inflation

I think we need another 'Rip off Britain' campaign like there was 21 years ago. 

New car buyers went to Europe to secure fairer prices on RHD models. However, it might be a bit trickier this time around. 

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When it builds it will be obvious. It isn't yet for the simple reason of artificially suppressed demand.

1. Main points

  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 0.6% in November 2020, down from 0.9% in October 2020.

  • The largest contribution to the CPIH 12-month inflation rate in November 2020 came from recreation and culture (0.24 percentage points).

  • Falling prices for clothing, and food and non-alcoholic beverages resulted in the largest downward contributions (of 0.17 and 0.09 percentage points respectively) to the change in the CPIH 12-month inflation rate between October and November 2020.

  • These were partially offset by upward contributions from games, toys and hobbies, and accommodation services.

  • As a result of the increased restrictions caused by the coronavirus (COVID-19) pandemic, 72 CPIH items were identified as unavailable in November, accounting for 13.9% of the basket by weight; the number has increased from eight in October but is down from 90 in April, the first full month of lockdown; for November, we collected a weighted total of 83.8% of comparable coverage collected before the first lockdown (excluding unavailable items).

  • The Consumer Prices Index (CPI) 12-month rate was 0.3% in November 2020, down from 0.7% in October.

 

https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/november2020

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21 hours ago, macca said:

Its been running riot for years

Cars for example

2008 VW Polo SE £5995

2020 VW Polo SE £16'995

Okay so it has a screen that cost £20 from China and a £5 blue tooth device..

But its not £11'000 more of car..

Inflation

2012 was about £10k

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I bought a Honda repsol Blade in 2007 for £7000.. I sold it 5 years later £5500

Now they are still selling for £5500, 2007 was a 1 year only model though,, should have kept it..

And a new fireblade is about 20k +

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