“Inflation is still far too high, it’s taken us all a bit by surprise. Obviously, it’s a good thing it’s coming down.”
Richard Walker says Iceland is still trying to hold back inflation on it’s shelves but adds Brexit delivery and Covid haven’t helped.
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Inflation is far too high, despite the recent drop in figures
By Richard Walker
Inflation has been a significant concern for many economies around the world, and despite a recent drop in figures, it remains alarmingly high. In fact, the decline in inflation figures should not be seen as a positive development, but rather as a temporary reprieve in a worrying trend that could have severe consequences for consumers and businesses alike.
Official statistics may show a slight drop in inflation rates, but the reality is that the cost of living is still increasing at an unsustainable pace. Consumers are feeling the pinch as their purchasing power continues to erode due to rising prices. Basic necessities such as food, housing, and transportation are becoming increasingly unaffordable for many families, pushing them into financial hardship.
Moreover, the impact of high inflation extends far beyond the household budget. Businesses are struggling to cope with rising input costs, which ultimately affect the prices they charge consumers. This creates a vicious cycle, as businesses are forced to either reduce their profit margins or pass on the increased costs to customers, exacerbating the burden on already cash-strapped households.
Furthermore, high inflation erodes the value of savings and investments. Savers are not only earning less on their deposits, but they are also losing purchasing power as the rate of inflation outpaces interest rates. This deters people from saving, leaving them vulnerable to unexpected expenses or economic instability.
The recent drop in inflation figures should also be viewed with caution. It may be tempting to interpret it as a sign that the problem is being solved, but it is crucial to understand the underlying factors driving the decline. Temporary factors, such as government interventions or supply chain disruptions, can temporarily alleviate inflationary pressures, leading to a decrease in short-term figures. However, this does not address the structural issues that contribute to sustained high inflation.
To tackle high inflation, governments and central banks must adopt decisive and targeted measures. One of the key drivers of inflation is excessive money supply, which fuels demand and drives up prices. Therefore, a prudent monetary policy that focuses on controlling the money supply is crucial. Governments must also address the root causes of inflation, such as structural inefficiencies, bottlenecks in the supply chain, or excessive market concentration that allows companies to engage in price-gouging.
In addition, governments should implement measures to alleviate the burden on consumers and businesses. This could include targeted social assistance programs, investment in infrastructure to improve productivity and reduce costs, and regulatory measures to promote competition and discourage monopolistic behavior.
Addressing high inflation requires a comprehensive and multi-faceted approach. It is not enough to rely on short-term fixes or temporary reprieves. Governments and central banks must take immediate action to curb inflation and ensure a stable and sustainable economy for the benefit of all. Failure to do so could have dire consequences for the well-being of individuals and the overall health of the economy.
Still don't get why people who voted for brexits are not paying more taxes? . Why does everybody have to pay for brexits.
Best case is the UKs stagnation.
Prices won't really go down significantly over the next five years or so, there are key global shifts in process that affect prices and those won't change.
Brexit tw t
His company is struggling for one main reason. I used to shop there because it was fairly cheap. Now I shop in Aldi which is cheaper, and has a wider range of products. His business , his shops, look a bit 1970's now. He's falling behind the opposition. That's his problem. Brexit , pandemic, all lame excuses. Most CEO's concentrate on their business's, he should do that rather than appear on the media all the time. Give this, Question Time etc. a miss and work on your business model.
Too many people needs housing, food and energy. Overpopulation caused by uncontrolled immigration.
Add on top of that the loss of ukrainian aggricultural produce and cheap russian energy, and it turns out europe is in a whole lot of trouble.
They had to closes business across the Europe. I saw many shops closed in EU because of Brexit. He must be naive to be supporting Brexit, which has ruined his company.
Or what a shame
We left the EU?
In Ireland prices have gone down since Brexit. Supply chain is cheaper, excess production for English speaking paperwork not taken up
He does not believe a word he is saying
It's like the UK sanctioned itself.
Unsubscribed. What kind of Pro RUSSIA ahat us rhis Times. Right wing nut job here.
Why would anyone who us working class shop at Iceland
This guy is not for the people
BOYCOTT
I dont remember all you remoaners warning people about covid and a full scale war in Europe. Considering you all seem able to see into the future why didnt you warn us thick leave voters ?
It would be good to introduce your guest
He wants people who are grateful to be offered a job. Does his company not benefit from hiring a new employee aswell? I presume it does, else he wouldn't be offering to pay them a wage in return. We see this behavior across the British economy, where businesses expect people to bow at their feet simply for the opportunity to be considered for a job, with employment conditions which are favourable to them and not the potential employee, even though the vacancy being filled benefits the company too. We hire ex-convicts because we can recruit enough people from the general population. And I believe everything everyone tells me because no one is ever disingenuous.
The head of a supermarket didn't realise putting up barriers to trade with your closest trading partners would add cost and increase prices. He should be stocking shelves if he didn't know that would happen.
The corporate media ignoring the sanctions on russian energy which has been the real reason due to cost of living crisis that hitting most of the world.
We have supply side inflation on
Energy
Food
Housing
Labour
The government is doing fk all to improve supply in any of these areas in fact its actively making it worse with
Fossil subsidies of 100s of billions no meaningful windfall tax
Running down farming on a race to a deregulated supply side low standard bottom
Removing building targets
Points based immigration giving us middle managers and consultants instead of Workers
And for thier final trick letting the BOE use a demand side tool to push the economy into recession and pretend its not their fault current projections are 6,5% rates post xmas
Happy new year Tory fanboys
'we operate in an industry of pisstakers so if everyone else is doing it so can we'
"We're opening new shops" says the Brexit supporter as he closes more shops.
"The Times reported us claiming a higher than £117 million profit," says the Brexit supporter, while he adds that he would prefer reporters called this "cash". Ok so, cash profits of higher than £117 million, then.
"Brexit went fine," says the Brexit supporter, explaining the difficulties put down to Brexit as people buying too much loo roll during Covid, while not mentioning the hundreds of discontinued items in his stores due to being unable any longer to import them and the consequent super-inflationary mark-up he has placed on the remaining items to keep his profit margins up to shareholders' expectations.
"Brexit went fine," says the Brexit supporter, as he explains how he's now resorting to Wagner Group recruitment tactics just to find enough workers to keep the enterprise going.
Is there anyone honest left in Britain at all?
Nothing to do with the weather. Who is this TOTAL LOSER?
ENTIRELY the fault of the GUTLESS British People, who UNANIMOUSLY FAILED to stand up to lockdown
do these figures on inflation take into account the shrinking of the contents of many supermarket goods ? if not then i'd like to suggest the real level of inflation is at least 30 percent higher
That drop in inflation WILL turn back into a rise if we don't see another 0.5% rate rise by the Bank of England soon!
… as a German – I always applauded
to the British Courage to Exit the EU
the EU as a demonic self destructive Bureaucracy
of Incompetent unwanted self styled Politicians
this must be de constructed!
The wonderful British People are more Europeans
than most in the EU
who only joined as Parasites
to bleed the EU Bureaucracy and feed their corrupt Politicians
The Swiss are the Example how to hande this compromise
Join Switzerland as a British Kanton and you live well!
The Swiss speak more proper English than most Brits do…
The one time he didn't answer honestly was over brexit, you could see him thinking it and he almost wanted to say aloud 'It's been an unmitigated disaster and I wholly regret it happened!'
This guy seems very genuine. He also batted away her barbs with aplomb.