Cheaper Food!

  wids001 13:51 17 Oct 2008
Locked

I have just heard on Dream 107.7 (Local Radio) that food in the shops will soon be cheaper because food inflation has dropped considerably.

Apparently, year on year, food inflation has dropped from around 11% to 5.5%!

Can someone correct me if I am wrong, but how is food going to be cheaper - surely these figures just mean that instead of food INCREASING by 11% it will now only be 5.5% DEARER than last year. If it is to actually come down then doesn't the rate have to be -% (negative).

Am I right or am I right!

  wee eddie 14:47 17 Oct 2008

Anyway, it would not do the "Great Unwashed" any harm to spend more on their food and less on their Sky TV and Digiboxes!

  Clapton is God 16:30 17 Oct 2008

Presumably the "Great Unwashed" you refer to are people from the North? click here

  natdoor 16:31 17 Oct 2008

If something cost £1.00 13 months ago and the year on year inflation is 11%, it will have cost £1.11 last month. If year on year inflation is now %5 it will cost 5% more than it cost 12 monts ago which, if price increases had been regular for the months 1 to 12, would mean that it no costs £1.06 to the nearest penny. Hence the price is lower than last month but not lower than a year ago. To get that you do need negative inflation.

  GRIDD 19:41 17 Oct 2008

3 things I noticed to be cheaper this week. Bread (down 22p), toilet roll (down 7p) and eggs (down 12p)... well the particular ones I buy anyway.

That's 41p saved up for my TV bill, wee eddie ;)

  I am Spartacus 19:58 17 Oct 2008

Having just had a bath I suppose I can safely watch TV now.

  peter99co 12:08 18 Oct 2008

The price of wheat has dropped recently. The eggs fall naturally! Toilet rolls are going downhill.

  lofty29 16:55 18 Oct 2008

peter99co
Don't you mean down the pan

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