BOOM inflation incoming
Discussion
Current electricity supplier wants to increase our variable rate annual electricity bill from £1,279 to £1,875
£50 month and a 47% increase in one go...
and no this isn't a change from a fixed traiff to variable- this is their change in variable pricing!
Also noticeable just how much food has increased.
suspect the back end of this year is going to be tight for many.
£50 month and a 47% increase in one go...
and no this isn't a change from a fixed traiff to variable- this is their change in variable pricing!
Also noticeable just how much food has increased.
suspect the back end of this year is going to be tight for many.
PugwasHDJ80 said:
Current electricity supplier wants to increase our variable rate annual electricity bill from £1,279 to £1,875
£50 month and a 47% increase in one go...
and no this isn't a change from a fixed traiff to variable- this is their change in variable pricing!
Also noticeable just how much food has increased.
suspect the back end of this year is going to be tight for many.
Out of interest, do you have a smart meter? I understand that many suppliers are punishing customers that refuse one with much higher variable rates and no opportunity for a cheaper fixed price deal.£50 month and a 47% increase in one go...
and no this isn't a change from a fixed traiff to variable- this is their change in variable pricing!
Also noticeable just how much food has increased.
suspect the back end of this year is going to be tight for many.
I was out of the U.K. quite a bit during the pandemic and it struck me on my return just how much more expensive everything was.
House wise prices have gone nuts
Council tax up considerably
Electric bills up considerably
Gas up
Petrol up considerably
Pint at the pub was up a quid
Food was up both in shops and restaurants
Not heard of many getting pay rises. Going to be a squeeze on many once the COVID savings pots are depleted.
House wise prices have gone nuts
Council tax up considerably
Electric bills up considerably
Gas up
Petrol up considerably
Pint at the pub was up a quid
Food was up both in shops and restaurants
Not heard of many getting pay rises. Going to be a squeeze on many once the COVID savings pots are depleted.
anxious_ant said:
No surprise here really, with all the excessive borrowing.
Expect BoE to announce interest rate increase Q3.
I hope the interest rate goes up. Fed up of getting zero interest on my savings. It'll hit borrowers hard no doubt but it's a bitter pill that needs to be swallowed as the relentless level of borrowing on the basis of cheap/free money has been crazy and we've all become far too addicted to it. Expect BoE to announce interest rate increase Q3.
ARHarh said:
That's the least of you worries, just wait till they have to put up interest rates to control inflation. With current rates they could easily double you mortgage interest.
Or they carry on manipulating the bucket of goods to measure inflation and stick their head in the sand. Knowing that even modest interest rate rises would cause havoc to many and cause a house price crash that no political party want on their watch. Backed into a corner.
Shnozz said:
Or they carry on manipulating the bucket of goods to measure inflation and stick their head in the sand. Knowing that even modest interest rate rises would cause havoc to many and cause a house price crash that no political party want on their watch.
I think that is more likely TBH. My real inflation rate has been much higher than the headline rate for some time, and I don't think I am unusual. But I feel that they are running out of options - what "real world" consumer goods are not going up in price right now?We’re on a smart meter. Fixed tariff has just come to an end and the very best we could find was an increase of £60 per month over what we have been paying. Most of the other quotes were coming in at £80-£100 more expensive.
Add to that the recent 1.25 % NI and removal of the £20 from UC, there are going to be a lot of people on low incomes starting to struggle, mainly due to Covid and Brexit combined.
It’s another reason for saving and buying with cash rather than taking out borrowing imho. Cannot bear the thought of taking on debt the way things seem to be going.
Add to that the recent 1.25 % NI and removal of the £20 from UC, there are going to be a lot of people on low incomes starting to struggle, mainly due to Covid and Brexit combined.
It’s another reason for saving and buying with cash rather than taking out borrowing imho. Cannot bear the thought of taking on debt the way things seem to be going.
biggles330d said:
I hope the interest rate goes up. Fed up of getting zero interest on my savings. It'll hit borrowers hard no doubt but it's a bitter pill that needs to be swallowed as the relentless level of borrowing on the basis of cheap/free money has been crazy and we've all become far too addicted to it.
Nice. You get free money and balls to everyone trying to get by 
Classic PH
wormus said:
We’re on a smart meter. Fixed tariff has just come to an end and the very best we could find was an increase of £60 per month over what we have been paying. Most of the other quotes were coming in at £80-£100 more expensive.
Add to that the recent 1.25 % NI and removal of the £20 from UC, there are going to be a lot of people on low incomes starting to struggle, mainly due to Covid and Brexit combined.
It’s another reason for saving and buying with cash rather than taking out borrowing imho. Cannot bear the thought of taking on debt the way things seem to be going.
Yep, it’s the new triple lock for those on low incomes.Add to that the recent 1.25 % NI and removal of the £20 from UC, there are going to be a lot of people on low incomes starting to struggle, mainly due to Covid and Brexit combined.
It’s another reason for saving and buying with cash rather than taking out borrowing imho. Cannot bear the thought of taking on debt the way things seem to be going.
Higher NI
Reduced UC
Higher Gas&leccy.
I feel this is only the beginning of what’s to come and as always it’s those that have the least to give will have the most to lose.
Cue nonsense about Sky packages and iPhones…..
hucumber said:
biggles330d said:
I hope the interest rate goes up. Fed up of getting zero interest on my savings. It'll hit borrowers hard no doubt but it's a bitter pill that needs to be swallowed as the relentless level of borrowing on the basis of cheap/free money has been crazy and we've all become far too addicted to it.
Nice. You get free money and balls to everyone trying to get by Classic PH
PHR was where it was at
hucumber said:
biggles330d said:
I hope the interest rate goes up. Fed up of getting zero interest on my savings. It'll hit borrowers hard no doubt but it's a bitter pill that needs to be swallowed as the relentless level of borrowing on the basis of cheap/free money has been crazy and we've all become far too addicted to it.
Nice. You get free money and balls to everyone trying to get by Classic PH
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