What has the fuel price done about cost of living so far? UK here and I haven’t really noticed anything changing. My mortgage continues to get cheaper relative to inflation, electricity has increased by so little it’s also dropped relative to inflation. Not really noticed much change in the price of food either, we still spend less than £30 a week between the 2 of us.
Almost all of the cost of living is housing with everything else pretty much being pocket change in comparison. Just after I bought house prices appear to have started stagnating which is a bit annoying for the timing of it but should help bring the relative cost down for new buyers if it continues.
Sure, but its a tiny fraction of the total cost and diesel has only gone up a little bit. So maybe my oats cost a single penny more now? Oh no, they barely cost anything anyway.
Wew lad. It was 3.70 one year ago. Now it’s averaging 6.20 in the US. That’s a 60% increase.
maybe my oats cost a single penny more now?
My guy, you are in for the worst shock of your life within the next 6 months, lol. You are so blissfully unaware I honestly don’t want to pop that bubble. I hope you have a good week.
you are in for the worst shock of your life within the next 6 months,
Heard that one before. Diesel has only gone up 40% here in the UK. Even if diesel was 100% of the cost (it isn’t), that’s a 40% increase in my oats? I mean realistically I would notice it in the shop and then continue to not care. Still doesn’t really sound like that big of a problem compared to the cost of housing tbh.
Quick edit: mentioned before about house pricing potentially dropping/stagnating here, is that happening elsewhere or is it still rising uncontrollably? Still short term but I hope it spreads into a longer term trend everywhere as that seems like it would help people a lot.
Maybe your just really really really bad at noticing things. maybe “but it’s not happening to me personally” is a terrible and inaccurate assessment of the global economy. Just food for thought.
it’s only a 40% increase in the price of every good that requires transportation
No, it isn’t. Fuel isn’t 100% of the cost of products, it isn’t even 100% of the cost of transporting them as you have workers and maintenance costs too. Fuel is actually a pretty minor cost of products overall.
Oil has an outsized impact on how inflation is measured, so prices not growing faster than inflation when oil prices are high still leaves lots of room for them to grow rapidly. As well as that, for most people, things going up in price is already a problem whether or not inflation is higher, especially when inflation’s so far above the target rate of 2%. If it was just a short blip of inflation being above 2%, then it wouldn’t be so bad, but because it was really high for a while, lots of people already burned through any buffer they had.
Even in absolute terms I don’t really see much difference in things I buy. Mortgage is much more than everything else combined and its a fair bit lower than it was 3 years ago in absolute and relative to inflation value.
The only stuff I kinda want that is going way up is stuff like GPUs or memory. Which let’s be honest, you can live without just fine.
What has the fuel price done about cost of living so far? UK here and I haven’t really noticed anything changing. My mortgage continues to get cheaper relative to inflation, electricity has increased by so little it’s also dropped relative to inflation. Not really noticed much change in the price of food either, we still spend less than £30 a week between the 2 of us.
Almost all of the cost of living is housing with everything else pretty much being pocket change in comparison. Just after I bought house prices appear to have started stagnating which is a bit annoying for the timing of it but should help bring the relative cost down for new buyers if it continues.
Literally every single thing that consumers use on a daily basis needs diesel to get to them. Oil goes up, diesel goes up, everything goes up.
Sure, but its a tiny fraction of the total cost and diesel has only gone up a little bit. So maybe my oats cost a single penny more now? Oh no, they barely cost anything anyway.
No, it is a large portion of the total cost.
Wew lad. It was 3.70 one year ago. Now it’s averaging 6.20 in the US. That’s a 60% increase.
My guy, you are in for the worst shock of your life within the next 6 months, lol. You are so blissfully unaware I honestly don’t want to pop that bubble. I hope you have a good week.
Heard that one before. Diesel has only gone up 40% here in the UK. Even if diesel was 100% of the cost (it isn’t), that’s a 40% increase in my oats? I mean realistically I would notice it in the shop and then continue to not care. Still doesn’t really sound like that big of a problem compared to the cost of housing tbh.
Quick edit: mentioned before about house pricing potentially dropping/stagnating here, is that happening elsewhere or is it still rising uncontrollably? Still short term but I hope it spreads into a longer term trend everywhere as that seems like it would help people a lot.
Maybe your just really really really bad at noticing things. maybe “but it’s not happening to me personally” is a terrible and inaccurate assessment of the global economy. Just food for thought.
Unless he’s living unabomber style in a shack in the woods I’m sure he’ll figure it out pretty soon, lol.
Right, it’s only a 40% increase in the price of every good that requires transportation
Before you factor in corporations taking advantage of the demand to gouge prices, which as surely as the sun rises, they will.
Don’t forget a 40% increase in the price of transporting fuel, which means fuel transport is less profitable which then has knock on effects as well
No, it isn’t. Fuel isn’t 100% of the cost of products, it isn’t even 100% of the cost of transporting them as you have workers and maintenance costs too. Fuel is actually a pretty minor cost of products overall.
I dunno if this will put things in perspective, but this is by far the worst oil shock in history, lol.
I don’t buy oil though, and as I said already housing is vastly more expensive than anything else. Oil isnt making housing more expensive.
I hope that guy doesn’t have any dependents 😂
Please stop lmfao, that’s too funny Hahaha.
Oil has an outsized impact on how inflation is measured, so prices not growing faster than inflation when oil prices are high still leaves lots of room for them to grow rapidly. As well as that, for most people, things going up in price is already a problem whether or not inflation is higher, especially when inflation’s so far above the target rate of 2%. If it was just a short blip of inflation being above 2%, then it wouldn’t be so bad, but because it was really high for a while, lots of people already burned through any buffer they had.
Even in absolute terms I don’t really see much difference in things I buy. Mortgage is much more than everything else combined and its a fair bit lower than it was 3 years ago in absolute and relative to inflation value.
The only stuff I kinda want that is going way up is stuff like GPUs or memory. Which let’s be honest, you can live without just fine.
Yeah what modern person needs a computer anyway?
Exactly. Its clearly a luxury that you can manage without or getting a cheaper lower spec one
Like stoves, right? Just use the microwave
Huh? No, loads of people don’t even own PCs anymore.
GPUs and memory go in things that aren’t PCs, too.
inflation is trending up it’s nowhere near peak 2022 levels, but 2022 also had increases in wages to offset it.