Sharp rise in prices in coming weeks
+ Reply to Thread
Page 3 of 7 FirstFirst 1 2 3 4 5 ... LastLast
Posts 21 to 30 of 63
  1. #21

    Richer than sasguru

    DimPrawn is a fount of knowledge

    DimPrawn's Avatar
    Join Date
    Jul 2005
    Location
    Brexit Britain
    Posts
    32,640
    Thanks (Given)
    266
    Thanks (Received)
    721
    Likes (Given)
    4218
    Likes (Received)
    3541

    Default

    Quote Originally Posted by GB9 View Post
    What percentage of the price of a litre of petrol is down to the oil price and hence subject to both the price of oil and the change in Cable?

    I'm sure you must know being an economics genius.


    Sorry, the economic genius is a bit fick 'innit.
    Patiently waiting for the much publicised and feared Brexit Doom.....

  2. #22

    Better than AtW

    sasguru - scorchio!


    Join Date
    Jul 2005
    Posts
    33,807
    Thanks (Given)
    19
    Thanks (Received)
    300
    Likes (Given)
    132
    Likes (Received)
    872

    Default

    Quote Originally Posted by GB9 View Post
    What percentage of the price of a litre of petrol is down to the oil price and hence subject to both the price of oil and the change in Cable?

    I'm sure you must know being an economics genius.
    I'm sure even you can work it out. Actually I'm not.
    Roughly, whatever % sterling fell against the dollar is the extra we have to pay, over and above the rise in oil price.
    And because oil is used in manufacturing and transport of all goods, all goods are more expensive.

    HTH, BIKIW.
    "The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is."

    Winston Churchill

  3. #23

    Double Godlike!

    BlasterBates - scorchio!

    BlasterBates's Avatar
    Join Date
    Jul 2005
    Location
    Trump University
    Posts
    11,120
    Thanks (Given)
    66
    Thanks (Received)
    230
    Likes (Given)
    407
    Likes (Received)
    793
    Author of the best seller "How to get Poor quickly"

  4. #24

    Richer than sasguru

    DimPrawn is a fount of knowledge

    DimPrawn's Avatar
    Join Date
    Jul 2005
    Location
    Brexit Britain
    Posts
    32,640
    Thanks (Given)
    266
    Thanks (Received)
    721
    Likes (Given)
    4218
    Likes (Received)
    3541
    Last edited by DimPrawn; 15th February 2017 at 13:56.
    Patiently waiting for the much publicised and feared Brexit Doom.....

  5. #25

    Better than AtW

    sasguru - scorchio!


    Join Date
    Jul 2005
    Posts
    33,807
    Thanks (Given)
    19
    Thanks (Received)
    300
    Likes (Given)
    132
    Likes (Received)
    872

    Default

    Quote Originally Posted by DimPrawn View Post


    Sorry, the economic genius is a bit fick 'innit.
    Yeah so the wholesale price rises and the fact that £1 will now buy less oil wil not affect the price at all?
    Ok then, lets ignore the evidence because it conflicts with your beliefs.
    Dumbkopf.
    "The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is."

    Winston Churchill

  6. #26

    Godlike

    Mordac - scorchio!

    Mordac's Avatar
    Join Date
    Jul 2005
    Location
    Civilisation-ish
    Posts
    5,676
    Thanks (Given)
    79
    Thanks (Received)
    287
    Likes (Given)
    612
    Likes (Received)
    1146

    Default

    Quote Originally Posted by sasguru View Post
    Well not a surprise, I suppose.
    I'm Ok though I'm wealthy, so will hardly notice it.
    And for those who have caused it, let's just say the best lessons are those learnt at first hand


    From the Times today :


    "Consumers should brace themselves for a sharp rise in the price of everyday goods in the coming weeks as retailers’ hedging contracts against a fall in the pound come to an end, analysts warn.

    About 75 per cent of the currency hedges put in place by retailers and wholesalers, which offer short-term insurance against swings in sterling, had expired by the end of last year, according to World First.

    The foreign exchange company said that many of the UK’s importers signed hedging contracts shortly before the referendum because of fears that the value of the pound would experience sharp volatility.

    The survey was based on the company’s clients, but Jeremy Cook, chief economist at World First, said he would be surprised if it did not apply widely.

    He added: “We are starting to see people saying, ‘We didn’t protect ourselves nearly as much as we wanted to or should have done’, and now they are having to go back to customers and say, ‘Well, it’s 16 per cent or even 20 per cent more now than it was last year.’ ”

    The annual rate of inflation jumped to 1.8 per cent in the year to January, according to the Office for National Statistics, up from 1.6 per cent in December and the highest level since June 2014. Mr Cook believes that the sudden end of hedging contracts for many companies would lead to a rise.

    He said: “We are only just at the beginning of the pick-up of inflation. We think it could hit 3.5 per cent by the end of the year. Retailers couldn’t put prices up at Christmas but will now be having a fairly frank conversation with customers.”

    Concerns about higher inflation stem from the sharp fall in the value of the pound against other currencies since Britain voted to leave the EU. A weaker pound drives up the cost of imports such as food and fuel.

    The potential rise in the cost of goods is a concern for the government because it is likely to start squeezing living standards. Economists also believe that the rate of inflation will be close to 3 per cent by the end of this year, which would leave households worse off in real terms as their pay will not rise at the same rate.

    Households have been largely protected against the fall in the pound, with inflation being affected more by a rise in petrol prices and food prices not falling as greatly as last year.

    The price of oil has risen sharply over the past year, from $33 a barrel to about $55 today. The average price for petrol at the pump is £1.20 and £1.22 for diesel. One retailer said petrol sales had “fallen off a cliff” last month as a result.

    Prices charged at the factory gate for manufactured goods rose by 3.5 per cent in the year to January, the largest increase since January 2012."
    It gets worse, Sterling has fallen against the Swiss Franc so the alternative option will cost more as well.
    His heart is in the right place - shame we can't say the same about his brain...

  7. #27

    Richer than sasguru

    DimPrawn is a fount of knowledge

    DimPrawn's Avatar
    Join Date
    Jul 2005
    Location
    Brexit Britain
    Posts
    32,640
    Thanks (Given)
    266
    Thanks (Received)
    721
    Likes (Given)
    4218
    Likes (Received)
    3541

    Default

    Quote Originally Posted by Mordac View Post
    It gets worse, Sterling has fallen against the Swiss Franc so the alternative option will cost more as well.
    For the Bremoaners, I'd gladly pay for them to go.

    Patiently waiting for the much publicised and feared Brexit Doom.....

  8. #28

    Better than AtW

    sasguru - scorchio!


    Join Date
    Jul 2005
    Posts
    33,807
    Thanks (Given)
    19
    Thanks (Received)
    300
    Likes (Given)
    132
    Likes (Received)
    872

    Default

    Quote Originally Posted by Mordac View Post
    It gets worse, Sterling has fallen against the Swiss Franc so the alternative option will cost more as well.
    Sterling is in a select group of currencies :

    http://www.economist.com/blogs/freee...16/10/sterling



    Mind you we're not as bad as the Malawian Kwacha The Mongolian Tugrik, however, did not lose as much.

    Stop now, my ribs are hurting.
    Last edited by sasguru; 15th February 2017 at 13:59.
    "The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is."

    Winston Churchill

  9. #29
    GB9
    GB9 is offline

    Super poster

    GB9 's job has never been outsourced


    Join Date
    May 2012
    Location
    Mainly on a train
    Posts
    3,060
    Thanks (Given)
    82
    Thanks (Received)
    100
    Likes (Given)
    292
    Likes (Received)
    556

    Default

    Quote Originally Posted by d000hg View Post
    You need to read it in a right-leaning newspaper before you're ready to accept a weak pound means imported goods will cost more?




    Maybe we should all be filling our cellars and pantries (you do all have cellars and pantries I hope?)
    I'm saying the independent puts a left wing pro remain slant on the news in the same way the express puts a right wing slant on its take of the news.

    Other than petrol I have yet to see price increases.

  10. #30

    Better than AtW

    sasguru - scorchio!


    Join Date
    Jul 2005
    Posts
    33,807
    Thanks (Given)
    19
    Thanks (Received)
    300
    Likes (Given)
    132
    Likes (Received)
    872

    Default

    Quote Originally Posted by GB9 View Post

    Other than petrol I have yet to see price increases.
    Jeez, FFS. It's not that difficult to understand, even for you.
    That Times article is saying that hedging is coming to an end and so we will see a rise in prices over and above what we have seen to date.
    "The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is."

    Winston Churchill

+ Reply to Thread
Page 3 of 7 FirstFirst 1 2 3 4 5 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Content Relevant URLs by vBSEO 3.6.0 ©2011, Crawlability, Inc.