UK inflation: £15 spending power 15 years ago and now

Retro

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Food is getting a bit expensive nowadays, isn't it? The difference is really obvious when directly compared like this.


Food and drink.jpg

Price rises since 2008

Petrol: 103.9p a litre - 138.9p today

Pint of beer: £2.30 - £4.21 today

Cinema ticket: £7.66 - £10.75 today

Fish and chips: £2.43 a portion - £9 today

Lotto ticket: £1 - £2 today

Pint of milk: 42p - £1.05 today

Can of coca cola: 45p - 95p today

1kg bag of sugar: 85p - £1.11 today

Dozen eggs: £2.47 - £3.26 today

Pound of bananas: 88p - £1.01p today


 

Retro

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As if this wasn't bad enough, brexit is making the situation a whole lot worse. So much for the lies about being better off out of the EU.

It seems a long time ago that Jacob Rees-Mogg famously predicted that Brexit would cut the cost of food “significantly”.

Since then we’ve seen food inflation hit almost 20%, its highest level since 1977, with some staples jumping by up to 67%. This has largely been driven by steep energy prices, following Russia’s invasion of Ukraine, poor weather conditions and Brexit - which the London School of Economics says has caused a third of food inflation since 2019. Input costs, such as fuel and fertiliser, have also risen significantly, as well as key ingredients such as cereal crops and rapeseed oil.

And leaving the EU is likely to continue having an impact on food prices as time goes on and more red tape is put in place. While, at the same time, farmers have raised concerns about the UK’s food security - saying the government is not doing enough to support home-grown produce.

Now farmers tell me that “the days of very, very cheap food are over”.
I never thought food was cheap, but clearly it's gonna get way more expensive than it already is.

 
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