davemercedes
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Frontstep said:
It's difficult when you have a rigid mindset to accept facts that don't accord with your narrow view.
As I pointed out above everything isn't rosy especially for some retailers but we need to remember everything was not perfect before the referendum and hasn't been good since the Banking crash.
Brexit hasn't happened yet so we all have some waiting to do perhaps many years before we get a clear view.
Currency markets ups and downs have been with us since the dawn of time.
Shrinkflation has been blamed on our Brexit vote, low interest rates,some even attributed Marmite gate to it !!!!
I don't see it as a narrow mindset when the pound fell badly the day after the Brexit vote and a year later it's still down. So much for the "ups and down"s - we are still down and paying more. It will be interesting to see the results in the next week or so - because reportedly the £ has had it's best result for 10 months - how long do you think it will stay up?
The lower £ was supposed to be good news for exporters but as the business reports have shown we missed the boat there and Germany which has always managed to trade around the world (the D-Mark was trading at 2.5: £1 not long before they went into the Euro) and they have stayed as the top EU exporter. So even though I and other people are subsidising our exporters (at the supermarket till) they haven't exactly won the big prize have they?
But the currency experts who make a living out of our falling currency... now they've got a narrow mind set and doing nicely thank you. UK Inflation is currently 2.9% - it was virtually nil in the days before the referendum. Just after the referendum vote the BOE said rising inflation was coming with a headline rate of 2%... I think we will hit 4 or 5% by the end of the year even though we have just had the best rate for 10 months but that's largely due to the dollar failing to hold up. That in turn is now causing exporters raw material costs to rise. Don't forget that Unilever blamed the £/$ rate for increasing the price of Marmite in their spat with Tesco!
Denying the link between the Brexit vote and the latest "Shrinkflation" (which suppliers claim is due to being hit by currency issues) seems ludicrous to me - the Office of National Statistics tracked 2500-odd lines over the last year and reported on the "pay more for less" situation. As you say, it was a trick that was in use before - but at a much lower volume and in any case - so what? - The volume of shrunken packs in the past was much lower and it certainly doesn't make it any better at the till -does it? - I know it doesn't because I pay the bills.
So far as waiting goes Ciaran, we have a small possibility of USA helping us out of trouble but the problems forecast and derided as "Project Fear" are already here - rising prices and falling quality - just look at the quality and prices of veg in the supermarkets already - in that respect just wait and hope that the Sainsbury's ex-CEO "damning" forecast comes true!
It's difficult when you have a rigid mindset to accept facts that don't accord with your narrow view.
As I pointed out above everything isn't rosy especially for some retailers but we need to remember everything was not perfect before the referendum and hasn't been good since the Banking crash.
Brexit hasn't happened yet so we all have some waiting to do perhaps many years before we get a clear view.
Currency markets ups and downs have been with us since the dawn of time.
Shrinkflation has been blamed on our Brexit vote, low interest rates,some even attributed Marmite gate to it !!!!
You keep saying "wait"...but what if we wait and you are wrong, what will you say then? Is it not possible to discuss this without the brexiters getting on their high horses and calling the rest of us...moaners?
I don't see it as a narrow mindset when the pound fell badly the day after the Brexit vote and a year later it's still down. So much for the "ups and down"s - we are still down and paying more. It will be interesting to see the results in the next week or so - because reportedly the £ has had it's best result for 10 months - how long do you think it will stay up?
The lower £ was supposed to be good news for exporters but as the business reports have shown we missed the boat there and Germany which has always managed to trade around the world (the D-Mark was trading at 2.5: £1 not long before they went into the Euro) and they have stayed as the top EU exporter. So even though I and other people are subsidising our exporters (at the supermarket till) they haven't exactly won the big prize have they?
But the currency experts who make a living out of our falling currency... now they've got a narrow mind set and doing nicely thank you. UK Inflation is currently 2.9% - it was virtually nil in the days before the referendum. Just after the referendum vote the BOE said rising inflation was coming with a headline rate of 2%... I think we will hit 4 or 5% by the end of the year even though we have just had the best rate for 10 months but that's largely due to the dollar failing to hold up. That in turn is now causing exporters raw material costs to rise. Don't forget that Unilever blamed the £/$ rate for increasing the price of Marmite in their spat with Tesco!
Denying the link between the Brexit vote and the latest "Shrinkflation" (which suppliers claim is due to being hit by currency issues) seems ludicrous to me - the Office of National Statistics tracked 2500-odd lines over the last year and reported on the "pay more for less" situation. As you say, it was a trick that was in use before - but at a much lower volume and in any case - so what? - The volume of shrunken packs in the past was much lower and it certainly doesn't make it any better at the till -does it? - I know it doesn't because I pay the bills.
So far as waiting goes Ciaran, we have a small possibility of USA helping us out of trouble but the problems forecast and derided as "Project Fear" are already here - rising prices and falling quality - just look at the quality and prices of veg in the supermarkets already - in that respect just wait and hope that the Sainsbury's ex-CEO "damning" forecast comes true!