Food price inflation - misleading media reports

[sherlock]

Headlines this morning saying that food prices have fallen for the first time since 2021.

Food price inflation fell slightly but was still at 6.9% for January, so prices still rising.

This, along with the constant attacks on Labour, show the media Tory support in election year is now in full swing....

 

[h_m_boro]

As the BTO song goes ".....you ain't seen nothing yet".

Their war chest will be used to spread lies, misinformation on a scale I don't think this country has seen.

Just have to hope the public are paying little attention and it's too late for the Tories....bar one or two solid blue seats.

They really are a bunch of despicable b*stards aren't they, aided and abetted by our sh*thouse media.

 

[1finny]

Headlines this morning saying that food prices have fallen for the first time since 2021.

Food price inflation fell slightly but was still at 6.9% for January, so prices still rising.

This, along with the constant attacks on Labour, show the media Tory support in election year is now in full swing....

I’ve just read the BBC report - at best it’s misleading but I’m minded to think it’s a deliberate lie.
It’s really poor

 

[Unravel_Morrison]

Strictly speaking the food figure, which is food and non alcoholic drinks (no, me neither) did fall back but it was down to stock clearance after a poor Christmas period.

 

[BeanBeany]

Unless it's deflation then the price you pay is still going up and you are worse off unless you have had a pay rise that is higher than that % rise. So to say that food inflation has fallen is correct but misleading to claim it as a win for the general public

 

[Low_Key]

i'm certain the supermarkets are taking the **** on the food prices and using the "inflation issue" as a cover to ramp up profits

 

[sherlock]

Strictly speaking the food figure, which is food and non alcoholic drinks (no, me neither) did fall back but it was down to stock clearance after a poor Christmas period.

The rate of inflation on food may have fallen very slightly, but prices are still rising, so the headlines are lies.

 

[Jonny Ingbar]

i'm certain the supermarkets are taking the **** on the food prices and using the "inflation issue" as a cover to ramp up profits

Some recent independent economic research in the US has attributed over 60% of inflation to corporations and big business artificially inflating prices, rather than being driven by economic climate.

Capitalism is very much a religion now isn't it.

 

[Unravel_Morrison]

The rate of inflation on food may have fallen very slightly, but prices are still rising, so the headlines are lies.

No, food and non-alcoholic drinks fell by 0.4%. In actual cost, not inflation.

 

[sherlock]

No, food and non-alcoholic drinks fell by 0.4%. In actual cost, not inflation.

Misleading. As are the headlines.

Food price inflation has dropped from 8% to 7%.

Prices are still rising. Nothing in the weekly shop is coming down.

People won’t see any difference from a weirdly calculated 0.4% decrease.

 

[1finny]

i'm certain the supermarkets are taking the **** on the food prices and using the "inflation issue" as a cover to ramp up profits

You are ‘certain’ - wow.
Despite the fact the CMA investigated this very issue late last year and concluded supermarkets are doing their best to hold prices back.
They went on to say large multi national suppliers were the problem.

 

[Unravel_Morrison]

I understand that, agree with your general views but as with everything you need to look at it more closely.

You shouldn't decry figures that are true any more than deny figures that are untrue.

Its dead easy to explain the food deflation, it is just the stuff left over from Christmas that didn't sell, so they dropped the prices.

 

[Decent_Left]

Misleading. As are the headlines.

Food price inflation has dropped from 8% to 7%.

Prices are still rising. Nothing in the weekly shop is coming down.

People won’t see any difference from a weirdly calculated 0.4% decrease.

It’s cherry picking

The basket costs 7% more than in Jan 23

But

The basket costs 0.4% less than in Dec 23

Feels about right given the Worldpanel numbers

But on a £100 shop your only saving pennies on the same shop in December but spending pounds more on the same shop in January

 

[r00fie1]

It's a bit like saying oil prices rose due to the war in Ukraine, then BP announced massive record profits - banked in a tax haven.
Of course, the value of the average income is falling.
They don't want you to understand that.
Keep the public in the dark and treat them with contempt £££££££££

 

[Soutra]

Misleading. As are the headlines.

Food price inflation has dropped from 8% to 7%.

Prices are still rising. Nothing in the weekly shop is coming down.

People won’t see any difference from a weirdly calculated 0.4% decrease.

From the Guardian -

***Offering consumers some respite amid the cost of living crisis, the latest figures showed food and non-alcoholic drink prices fell at a monthly rate of 0.4% in January – the first monthly decline since May 2021, driven by price cuts for bread and cereals, cream crackers, sponge cake and chocolate biscuits.***

 

[sherlock]

From the Guardian -

***Offering consumers some respite amid the cost of living crisis, the latest figures showed food and non-alcoholic drink prices fell at a monthly rate of 0.4% in January – the first monthly decline since May 2021, driven by price cuts for bread and cereals, cream crackers, sponge cake and chocolate biscuits.***

Still misleading.

A 0.4% drop in a single month won’t be felt by customers. At all.

A 7% current overall food inflation rate over a full year will absolutely be felt.