Cost of living squeeze in 2022

[Cobracc]

Wealth in the UK is very divided. There will be many who are very worried and genuinely scared they won't be able to pay the bills, heat their homes or even feed themselves and their families. Credit cards maxed out drowning in debt...

On the other hand people carried on working from home for 2 years. They have been saving and hoarding all that money which they were not able to spend or put off...holidays, cars etc. These people are now able to enjoy themselves after 2 years and splash the cash.

In terms of people cutting back on spending...I have not seen any evidence of a cost of living crisis yet.

[Deep Thought]

Cobracc said:

Wealth in the UK is very divided. There will be many who are very worried and genuinely scared they won't be able to pay the bills, heat their homes or even feed themselves and their families. Credit cards maxed out drowning in debt...

On the other hand people carried on working from home for 2 years. They have been saving and hoarding all that money which they were not able to spend or put off...holidays, cars etc. These people are now able to enjoy themselves after 2 years and splash the cash.

In terms of people cutting back on spending...I have not seen any evidence of a cost of living crisis yet.

Exactly this.

This cost of living crisis will not hit everyone equally.

And for many it won't be a crisis, it will be an inconvenience at most.

[m3jappa]

oyster said:

m3jappa said:

okgo said:

Well centre Parcs is rammed full currently. Also loads of school ages kids here so clearly they’ve been ripped from school too

We went to chessington last friday, it was absolutely fking rammed which partly ruined the day.

It did make me think of this thread as again.

With all respect, you wouldn't know if the park was 5% down on 2021 comparatives - it would appear rammed in both scenarios. Ancillary revenue might be taking a hit, like less spend in the gift shop.

Or perhaps Chessington revenue is not hit at all, and all the visitors are cutting back somewhere else.

I agree 100% no doubt, i was just amazed at the sheer amount of people and the ride times, especially for a weekday. I spoke to a woman while we queued for nearly 2 hours for the vampire ( i promised my daughter she would get a go on it) and she was saying she came a few weeks ago on a Saturday and it was noticeably busier this time.
All of the fast track tickets appeared to be sold out or unavailable too, but that could have been my mrs unable to use the app thing

[Mobile Chicane]

Cobracc said:

Wealth in the UK is very divided. There will be many who are very worried and genuinely scared they won't be able to pay the bills, heat their homes or even feed themselves and their families. Credit cards maxed out drowning in debt...

On the other hand people carried on working from home for 2 years. They have been saving and hoarding all that money which they were not able to spend or put off...holidays, cars etc. These people are now able to enjoy themselves after 2 years and splash the cash.

In terms of people cutting back on spending...I have not seen any evidence of a cost of living crisis yet.

I think it depends what 'type' of money you are talking about. An observation from a few years in hospitality:

Self-made: Premium trade / Sales / 'technocrati'.
A lot of PHers fall into this group. Happy to spend money, because they are always confident in their ability to make more.

'Old' money: Inherited it.
Every pound's a prisoner, on a whole-life tariff.

[poo at Paul's]

Diesel in short supply in Birmingham today, so ended up having to ge tit on the way home on motorway. And no regular diesel only super….2.23 per litre! I put 11 litres in to give me 100 miles home and it was over 25 quid!
That’s the limit I reckon. I’ll just not do the journey once it is over 25 p per mile on diesel.

[eldar]

poo at Paul's said:

Diesel in short supply in Birmingham today, so ended up having to ge tit on the way home on motorway. And no regular diesel only super….2.23 per litre! I put 11 litres in to give me 100 miles home and it was over 25 quid!
That’s the limit I reckon. I’ll just not do the journey once it is over 25 p per mile on diesel.

Over a tenner a gallon. Interesting times.

[Sway]

eldar said:

poo at Paul's said:

Diesel in short supply in Birmingham today, so ended up having to ge tit on the way home on motorway. And no regular diesel only super….2.23 per litre! I put 11 litres in to give me 100 miles home and it was over 25 quid!
That’s the limit I reckon. I’ll just not do the journey once it is over 25 p per mile on diesel.

Over a tenner a gallon. Interesting times.

Yet our base costs are low enough that we're selling to the US, where they're complaining massively about under $6/US Gallon...

Filled a Camaro hire car for under $50, which colleague was shocked at - but not for the same reason I was!

[Welshbeef]

poo at Paul's said:

Diesel in short supply in Birmingham today, so ended up having to ge tit on the way home on motorway. And no regular diesel only super….2.23 per litre! I put 11 litres in to give me 100 miles home and it was over 25 quid!
That’s the limit I reckon. I’ll just not do the journey once it is over 25 p per mile on diesel.

What diesel have you got? As our S Max diesel last fill £1.969 was roughly 30pence per mile

[brickwall]

eldar said:

poo at Paul's said:

Diesel in short supply in Birmingham today, so ended up having to ge tit on the way home on motorway. And no regular diesel only super….2.23 per litre! I put 11 litres in to give me 100 miles home and it was over 25 quid!
That’s the limit I reckon. I’ll just not do the journey once it is over 25 p per mile on diesel.

Over a tenner a gallon. Interesting times.

Government are in a real quandary about this.

On the one hand:
- Lots in government really don’t like motoring - ICE cars are polluting, traffic-generating machines. They’d much rather people took public transport or drove EVs. High fuel taxes are “good” because they nudge people towards more ‘desirable’ behaviours
- Fuel duty is a nice little earner for the Treasury. £26bn per year isn’t to be sniffed at.

On the other hand, it’s clear high fuel prices really sting households, and the broader economy. Even at todays prices, tax is ~50% of the cost. Like it or not, a lot of homes and businesses are completely reliant on cars/vans/trucks, and if these costs go up then they’ll cut back elsewhere.

How much of a hit to its revenues and its green credentials is gov’t prepared to take to help out the consumer and the economy? I suspect the answer is ‘not much’.

[poo at Paul's]

Welshbeef said:

poo at Paul's said:

Diesel in short supply in Birmingham today, so ended up having to ge tit on the way home on motorway. And no regular diesel only super….2.23 per litre! I put 11 litres in to give me 100 miles home and it was over 25 quid!
That’s the limit I reckon. I’ll just not do the journey once it is over 25 p per mile on diesel.

What diesel have you got? As our S Max diesel last fill £1.969 was roughly 30pence per mile

That is in a Passat Blue mo. It is quite good on the juice.

[Deep Thought]

poo at Paul's said:

That is in a Passat Blue mo. It is quite good on the juice.

I'd an older one of those some years back. A 2010 one, last of the 2.0TDI before they went to the 1.6. Was absolutely brilliant on fuel.

[kiethton]

Throttlebody said:

Biggy Stardust said:

Throttlebody said:

The cost can ‘fall’ relatively though, ie from period to period. Brings down the average. Also well worth understanding.

Please stop.

Sure.

Nationwide Jun data is out soon. Should be interesting.

Data's out....

"Monthly, house prices are still growing, with a seasonally adjusted 0.3% uptick from May to June"

[MissChief]

I really didn't think it would happen to me in my 'normal' car. Its a 428i Gran Coupe. I hit the prepaid card limit. Was just under a quarter of a tank too. Admittedly it was Super Unleaded but it still hurt to see £99. Where are the fuel riots? The refinery blockades?

[oyster]

Welshbeef said:

poo at Paul's said:

Diesel in short supply in Birmingham today, so ended up having to ge tit on the way home on motorway. And no regular diesel only super….2.23 per litre! I put 11 litres in to give me 100 miles home and it was over 25 quid!
That’s the limit I reckon. I’ll just not do the journey once it is over 25 p per mile on diesel.

What diesel have you got? As our S Max diesel last fill £1.969 was roughly 30pence per mile

That's 29mpg.
Bit pointless having a diesel if that's all you're getting.

[Square Leg]

kiethton said:

Throttlebody said:

Biggy Stardust said:

Throttlebody said:

The cost can ‘fall’ relatively though, ie from period to period. Brings down the average. Also well worth understanding.

Please stop.

Sure.

Nationwide Jun data is out soon. Should be interesting.

Data's out....

"Monthly, house prices are still growing, with a seasonally adjusted 0.3% uptick from May to June"

That’s a crash, surely?

[oyster]

kiethton said:

Throttlebody said:

Biggy Stardust said:

Throttlebody said:

The cost can ‘fall’ relatively though, ie from period to period. Brings down the average. Also well worth understanding.

Please stop.

Sure.

Nationwide Jun data is out soon. Should be interesting.

Data's out....

"Monthly, house prices are still growing, with a seasonally adjusted 0.3% uptick from May to June"

I was dreading such numbers - not because of the numbers themselves, but because TB will take that as 'falling' prices!!

[Deep Thought]

Square Leg said:

kiethton said:

Throttlebody said:

Biggy Stardust said:

Throttlebody said:

The cost can ‘fall’ relatively though, ie from period to period. Brings down the average. Also well worth understanding.

Please stop.

Sure.

Nationwide Jun data is out soon. Should be interesting.

Data's out....

"Monthly, house prices are still growing, with a seasonally adjusted 0.3% uptick from May to June"

That’s a crash, surely?

They would have been expecting a greater increase than that so this is clear evidence that house prices are down.

[tighnamara]

Deep Thought said:

They would have been expecting a greater increase than that so this is clear evidence that house prices are down.

Are you sure, an expected increase not being seen doesn't show house prices are down, only that the increase is not so high.

What you mean is that the increase on value declined last month, the value can't be down if it never actually reached that value.

[Deep Thought]

tighnamara said:

Deep Thought said:

They would have been expecting a greater increase than that so this is clear evidence that house prices are down.

Are you sure, an expected increase not being seen doesn't show house prices are down, only that the increase is not so high.

What you mean is that the increase on value declined last month, the value can't be down if it never actually reached that value.

No, no, no.

This is clear evidence that house prices are crashing.

Well thats how Throttle Body will spin it anyway.

[PeteinSQ]

MissChief said:

I really didn't think it would happen to me in my 'normal' car. Its a 428i Gran Coupe. I hit the prepaid card limit. Was just under a quarter of a tank too. Admittedly it was Super Unleaded but it still hurt to see £99. Where are the fuel riots? The refinery blockades?

Came on here to see if you were all talking about it. There's apparently a nationwide one planned for the 4th July - just had an all company email about it.