Inflation woes

RoseandJoan

I know most countries are battling with rising inflation and stagnant wages, here in the UK the energy regulator has just announced an 80% increase to the domestic energy price cap with a further increase likely in three months time.

I guess I will be shopping my closet for the medium term but my heart goes out to those who are already struggling.

3 years ago

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24 replies

Latest reply was from Helena

Stagiaire Fash

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Firewood and coal for home furnaces are in grocery stores, as every fall. I usually think of them as luxury goods, for people who have a snuggly fireplace or stove in the living room basically for ambiance. I wonder if people will be snatching them up quickly this year, and using them for serious heating purposes.

3 years ago

RoseandJoan

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I believe Germany is in a similar place regarding fuel prices.

It's unbelievable really that the advice here has moved from, you can save money by switching to heat the person not the house!

3 years ago

Cardiff girl

Veteran

Oh RoseandJoan l am in the uk too and have just listened to the news.It’s so depressing straight after the pandemic isn’t it.l really don’t know how some people are going to cope over the winter.
Prehaps we are going to have to set up a little UK corner of YLF for shopping your closet posts as like you l can’t see that new clothing purchases are going to be a priority for many people this year.My daughter also mentioned the Xmas lights and how people probably won’t afford to light up their houses this year and it got me thinking what a cold and dark winter in more ways than one it’s shaping up to be.

3 years ago

rachylou

Veteran

Oh wow. That’s staggering. My grocery bill has tripled. I am also laying out more for power while actually using less…

3 years ago

LJP

Veteran

I saw a tv news piece about the UK energy costs and was horrified . I don’t know how people on low incomes can deal with this - on top of rising food costs and gas costs . I’m super aware of these issues and actually find ostentation and luxury consumption in bad taste right now . I do realize those consumers absolutely don’t care what I think - but with the disappearance of the working middle class and inflation at an all time high , many of us have to adjust our spending . I’m fortunate to still have a job , and my husband has a great retirement penSion from Air Canada , but many aren’t so secure . My heart goes out to those in the UK . Yes , I’m a closet socialist

3 years ago

RoseandJoan

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Cardiff Girl, exactly, I can only imagine the mental health crisis that will come about as a result of this.

Rachy, it's so frustrating, you can use a lot less but the standing change has increased so it's going to cost more. I hear you on the grocery bills too.

Lisa, I completely agree.

3 years ago

Anonymous

Yikes- that's awful! Honestly in a lot of cases the companies that are raising the prices so much are having record profits- so it's just predatory behavior.

Luckily here the gas didn't stay at $5 a gallon, but I've definitely noticed higher prices for groceries and things. I buy as much from the farms as I can, which saves me money and keeps the money local.

3 years ago

Angie

(website)

Fashion Stylist

I saw, Jules. It's extreme and terrible. My London family will NOT be pleased

Lots of things in Seattle have gone up 25% to 40% in the last year. It cost $75 to fill up my car. It used to cost $45 (not that long ago!). We barely drive, which helps.

Groceries, eating out, home renovations, real estate, cleaning services, water, Uber, repairs, rent, gardening services = VERY expensive in Seattle.

3 years ago

SarahD8

Veteran

It's so awful -- especially with energy prices in the UK and Europe.

Cardiff girl I know I have been talking about getting & spending quite a lot on the forum recently, but I LOVE a good shop your closet challenge. (I've been leaning in to my Girl on the Moors persona lately but Modern Land Girl still resonates and you know the land girls are ALL about resourcefulness.) How can we show solidarity to you all in a way that might be a bit of fun too?

3 years ago

RoseandJoan

Veteran

Sarah, a shop your closet challenge would be great fun but please don't feel bad about your purchases, your favourite stores are needing a boost too, particularly your local boutiques.

Use it or lose it. Shop local.

3 years ago

slim cat

Veteran

There is a rent increase as well for those who renting. Our complex is owned by some super rich guy who wants to recover $ "lost" ( or not earned ) during shutdown/pandemic.
We do what we can to balance it all out - electricity, rent, groceries and such.

3 years ago

Stagiaire Fash

Veteran

A SYC corner? I’d rather see SYC be the norm and the new purchases be relegated to a corner. But I did recently suggest, in my post about DIYing that shirt, a category for DIY. There have been some fabulous items posted by people who either made or significantly changed them. It’d be great to have them grouped together for inspo & ideas.

3 years ago

Jenni NZ

Veteran

What the heck is a “domestic energy price cap?” I have never heard of such a thing?

3 years ago

Stagiaire Fash

Veteran

Jenni, if you have an iphone, you can highlight that phrase, then click “look up” in the little strip that shows up (sometimes “translate” is an option too). It will give you a couple sites that explain the term, or you can choose a dictionary or web search. I often find it helpful.

3 years ago

RoseandJoan

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Hi Jenni, it's supposed to be the maximum price a provider can charge per unit of power. There's no cap on business gas and electric which is why they call it a domestic cap. The new price cap means the average household will pay around £3549 a year for their gas and electric. The scary thing is that it is anticipated to rise to over £6000 by April.

3 years ago

Stagiaire Fash

Veteran

A quarter of your budget for lights & heat! I see lots of roommates.

3 years ago

kkards

Veteran

I’m sorry that this is happening and going to impact so many. I have no words of wisdom, but like fashion flashes back to past decades, I’m finding myself more and more thinking back to the “energy crisis’ of the 1970s. Growing up in New England where at the time most homes were heated with oil, the shock of prices quadrupling was wide spread and felt by all. I hope that this time the problem is short lived, and that help is provide to the most needy in the interim

3 years ago

RoseandJoan

Veteran

KKards, I was born in 77 but given the number of strikes taking place and the threat of power outages over the winter it does feel like a return to the 70s

3 years ago

JAileen

Veteran

I’m so sorry this is harming the people that can least afford it.

I remember back in the late 70s when we had bad inflation. I was talking to an old college roommate. She was saving money for something. And I had just read that it made more sense to buy some kind of durable good and then sell it later, than to put money in a savings account. Because the interest rate in the savings account was lower than the inflation rate, you were literally losing money every month.

3 years ago

Jenni NZ

Veteran

Thanks RoseandJoan for explaining. It’s not something we have here. It was late last night when I asked and so I had not Googled. I think my iPhone is too old a model to do what Stag recommended, I just tried that and could not highlight the words. But your explanation was good and then I found a BBC site. Wow, it has gone up a lot. I calculated it out to NZ$ and I do think it is higher than what we pay here. Some of our households do get a Government payment called the “winter energy payment” to help with heating in winter for 3 months. It is fairly recent only in the last 5 years or less.

3 years ago

Minaminu

Veteran

I am in the UK too and worry about the next couple of months, I was reading an article about possible blackouts and heating rationing ( depending how cold it will be) which I have never experienced before. I worry about the elderly, many of them will not be able to afford basics and will financially struggle, a pension increase is well overdue for them.

3 years ago

Janet

(website)

Veteran

Yikes, that is just not manageable for so many people. And yes to what Suntiger said — the energy corporations are not suffering, the big shareholders are buying their third or fourth vacation homes while their customers choose between paying for heat or food. Grrr.

3 years ago

Cardiff girl

Veteran

SarahD8,absolutely no need to feel guilty about new purchases on my behalf.l love looking at other peoples buys almost as much as l enjoy buying stuff myself and this forum is abit of escapism so please carry on posting whatever takes your fancy and it’s very thoughtful of you to want to show support for others,l really appreciate it.

And besides l have just ordered something new,thermal leggings!

3 years ago

Helena

Veteran

It's such a scary and uncertain time, and of course too many people didn't have much latitude to start with Sending love to everyone affected ... for whatever that's worth (not much, I know)

3 years ago

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