Post
Topic
Board Economics
Re: UK inflation hits new high of 9.1% as food and energy price surge persists
by
wxa7115
on 01/07/2022, 17:35:53 UTC
I've lived in a country with high inflation rate, and I guess it made me pretty much insensitive to changes like this. I've been living in the UK since February, and if the prices got higher within this period of time, I didn't notice. They're very high, but that's because I compare them to a third-world country where I'm from. The 9% inflation, though, doesn't mean that the prices for goods went up by 9%. And you can see from this article that it's actually more like 4%, which, honestly, isn't easy to notice. If your average shop bill was 40 GBP, it would now be 42. Would you notice that?

Probably not unless you keep records, however even if I am not obsessive enough to create those records on my own, thanks to the technology and the fact you can order your groceries online those records do exist and sometimes I do take the time to look at them and I do notice that stuff is way more expensive now than it was just a year ago.

This is because as you say inflation does not impact each product in the same way, as there are some products that still have a very similar price while there are others that have become so expensive that I have just stopped buying them as they are no longer worth their price tag.