Cost of Living - Shrinkflation is speeding up at an alarming rate

[tamzzy]

May I point out the big mac index https://truflation.com/marketplace/uk-big-mac
Since 2010 for the UK, essentially the purchasing power of the GBP per the big mac index, has halved

BOE calculator seems to think inflation during the same time is "only" 50% (the conspiracist in me feels that whatever basket of goods they'll use to massage the figures)
But for the common folk, I think +100% is probably nearer to the truth

 

[arknor]

Looked at booking a hotel in the States today - by coincidence I turned out some old papers at the weekend and found my bill for the same hotel from 10 years ago - the amount per night they want now is almost exactly 300% more than back in 2014....needless to say my wages didnt increase by 300% during the same period.

isn't that more to do with the Dollar now being a lot more valuable versus the pound than it was 10 years ago.

About 20 years ago it was something like £1 = 2USD

but our country has been mis managed for decades


but if your 10 year old hotel booking is in dollars, then the above is null and void.

 

[Mint8]

No - I was comparing the actual dollar per night rate then to now.

When you convert it to GBP it seems even worse of course but actually only to an extent because of the exchange rate - back then was 1.52 (what I got when I paid my bill) versus 1.30 now.

 

[checjb]

I was at a training course the other day with work, looking at strategy deployment. The guy puts up a sanitised example from a real company that works in "vehicle propulsion systems". Their goal was to increase profits by 50%. How did they look to achieve this? By re-engineering their tech so that instead of 2 replacements during they lifecycle of a vehicle, the components wear quicker and need to be replaced 3 times. Boom! 50% increase.
I was shocked but he pointed out that GE (General Electric) did this years ago and it became the industry norm. That's why a GE fridge from 30 years ago is probably still going but a new one lasts a maximum of 8 years.
Explains so much.

 

[Richie]

BOE calculator seems to think inflation during the same time is "only" 50% (the conspiracist in me feels that whatever basket of goods they'll use to massage the figures)

I believe the last basket of goods included airline flights which, between it and something else (cars I think), brought the inflation figure down.... Sorry but since when should an airline ticket be in the "basket of goods"

 

[Kelt]

I was at a training course the other day with work, looking at strategy deployment. The guy puts up a sanitised example from a real company that works in "vehicle propulsion systems". Their goal was to increase profits by 50%. How did they look to achieve this? By re-engineering their tech so that instead of 2 replacements during they lifecycle of a vehicle, the components wear quicker and need to be replaced 3 times. Boom! 50% increase.
I was shocked but he pointed out that GE (General Electric) did this years ago and it became the industry norm. That's why a GE fridge from 30 years ago is probably still going but a new one lasts a maximum of 8 years.
Explains so much.

Planned/built in obsolescence, been around for donkeys years.

Look up light bulb planned obsolescence.

 

[BUDFORCE]

I believe the last basket of goods included airline flights which, between it and something else (cars I think), brought the inflation figure down.... Sorry but since when should an airline ticket be in the "basket of goods"

Yup luxury cars and private jet charters are down, inflation is down, all you peasants stop complaining........