Inflation

eddleston123

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I have recently received a few fishing brochures. The latest being 'Sportfish' which I received this morning.

The one thing they all have in common is price increases across the board. Now, in the main, I have no objection to this, what I am concerned about is the level of the price increases 5-10 percent, some a lot more.

I suspect that the manufactures are racking up their prices prior to Brexit negotiations, and I think that this may well be happening throughout manufacturing in general.

In a couple of months time when inflation figures are release for March, I think we'll all be in for a shock.

I'm glad that I purchased all my fishing tackle for the 2017 season last year.

I suppose, I shouldn't grumble too much as I will be getting a couple of quid extra in my state pension come April, that should take care of things!


Douglas
 

john young

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I have recently received a few fishing brochures. The latest being 'Sportfish' which I received this morning.

The one thing they all have in common is price increases across the board. Now, in the main, I have no objection to this, what I am concerned about is the level of the price increases 5-10 percent, some a lot more.

I suspect that the manufactures are racking up their prices prior to Brexit negotiations, and I think that this may well be happening throughout manufacturing in general.

In a couple of months time when inflation figures are release for March, I think we'll all be in for a shock.

I'm glad that I purchased all my fishing tackle for the 2017 season last year.

I suppose, I shouldn't grumble too much as I will be getting a couple of quid extra in my state pension come April, that should take care of things!


Douglas
It's because of the low pound, which has now dropped 20% in total as a result of the 'leave the EU' vote last June. And it won't end there.
 

themind

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The other thing to consider is the weakness of the pound. Anything being bought from overseas is costing sellers more to buy. Not every price increase is a seller trying to scalp anglers.

Maybe a trade member could comment on this.

Steve

---------- Post added at 01:09 PM ---------- Previous post was at 01:08 PM ----------

beat me to it!

Steve
 

BobP

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In the summer of 2015 I went to Austria for a few days. I got 1.18 euros to the pound. I see the current rate is around 1.12. Does this represent a 20% drop in the value of the pound? They must have done funny maths when John Young went to school.
 

themind

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In the summer of 2015 I went to Austria for a few days. I got 1.18 euros to the pound. I see the current rate is around 1.12. Does this represent a 20% drop in the value of the pound? They must have done funny maths when John Young went to school.

True but your only comparing against the Euro, Dollar has strengthened as well so anything coming out of the US or a US pegged contra will have increased more.

Steve
 

tobesfish

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In the summer of 2015 I went to Austria for a few days. I got 1.18 euros to the pound. I see the current rate is around 1.12. Does this represent a 20% drop in the value of the pound? They must have done funny maths when John Young went to school.

No...buthad you gone in May 2016 you would have got 1.32 euros. Currently you get 1.14 so that's a drop of 13.5% there or thereabouts. If your trip had been 10 years ago you would have received 1.5 euros so closer to 35-40%.

It may be news that most fiscal reporting dates are not always compared to that time BobP went to Europe for a few days! :D
 

Mr Notherone

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The tourist rate doesn't matter. For most of 2015 the EU rate to the pound was above 1.35 There was about a 20% fall last year that has since rallied to represent about a 15% drop. That is substantial to traders. The dollar / pound rate is also down about 15% on the average 2015 rate.

Surely no one would suggest that our currency did not weaken post the referendum. There has been no significant recovery.
 

kituza

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Sounds like you were scalped Bob.

The mid-rate was over €1.4/£1 frequently over Summer 2015.

Worth shopping around for a better rate next time.

In the summer of 2015 I went to Austria for a few days. I got 1.18 euros to the pound. I see the current rate is around 1.12. Does this represent a 20% drop in the value of the pound? They must have done funny maths when John Young went to school.
 

tobesfish

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Let's not forget that most of these rods are built in China too, GBP:CHY has weakened severely since last year too.

they probably are still sold out of the factories at similar prices but converted to sterling are more expensive.
 

aunt_maud

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You're getting off lightly if it's only a 10% increase.

I bought some Lie Nielsen tools for some windows I'm making. Their price went up by 30% in the space of two weeks just after the Brexit vote.
 

john young

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In the summer of 2015 I went to Austria for a few days. I got 1.18 euros to the pound. I see the current rate is around 1.12. Does this represent a 20% drop in the value of the pound? They must have done funny maths when John Young went to school.
Just read the exchange rate charts as I did.

And if you think part of Europe is the whole world they must have had funny maps when you went to school.
They didn't seem to teach you much about dates or statistics either, the comparison you posted is up to a year before the start of the comparison I made and is over a much shorter time - "a few days" rather than about ten months

Also see post #6 from tobesfish.
Why didn't you 'have a go' at him too?
 
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The dollar is worth more compared to the pound now. A lot of importers pay in dollars regardless of where the product derives from.
 

tbs

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Inflation at a five year high.
There is also a growing concern with regard to significant increase of foreign investors buying up UK companies at knock down prices due to weak pound against the Euro and the Dollar post EU Referendum.
Are we becoming the bargain supermarket of Europe ?
 

ifor

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With most items of fishing tackle imported into the UK and those items purchased in $$$ companies will have costs rise by 20%

Let's hope the dollar doesn't drop from its current trading value.

You will find some companies have took a hit and only increased prices by around 10%, if the dollar rate doesn't improve to around $1.30 then I fear you will see further increases
 
G

guest54

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The answer is simple, stop spending on anything other than the absolute essentials you need to survive. If they aren't selling us enough stuff, they'll drop the price, no profit in zero sales.
 

BobP

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Also see post #6 from tobesfish.
Why didn't you 'have a go' at him too?

Because he makes sense and you don't. I NEVER to use your favourite means of delivery, believe all I see in the papers or on the TV, and I certainly don't pay the slightest heed to the remoaners of whom you would appear to be one.

No-one knows what is going to happen re Brexit. You certainly don't and I don't claim to though we've had hundreds of posts on another thread claiming they THEY know, and all the government has to do is to listen to them and all will be well.

What I do is to trust the Government to get the best deal possible out of Europe, and I believe they will because not even the EU is so stupid not to realise that they need to trade with us more than we need to trade with them.

Theresa May has done a good job so far, and I for one hope she will go for an early election to get a really solid mandate for what she needs to do.

Is there REALLY anyone on here so blinkered as to think that Corbyn has the remotest chance of forming a government?
 

ifor

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Bumble54, in reality what will happen are tackle wholesalers in what is already an overcrowded tackle wholesalers UK sector, see how many people are trying to sell flies as one example, in reality some will cease to trade and already I'm hearing some retail tackle shops are closing.

I don't think anyone is currently profiteering, in fact very much the opposite.
 

aunt_maud

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Snip......

...because not even the EU is so stupid not to realise that they need to trade with us more than we need to trade with them.

Snip.....

Why do you believe this ?
 
G

guest54

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Bumble54, in reality what will happen are tackle wholesalers in what is already an overcrowded tackle wholesalers UK sector, see how many people are trying to sell flies as one example, in reality some will cease to trade and already I'm hearing some retail tackle shops are closing.

I don't think anyone is currently profiteering, in fact very much the opposite.

All traders use simple logic, in the late sixties Honda was asked why a particular motorcycle cost $600 in the USA, but £600 in the UK, their answer was that the American's won't pay more, the UK will. Don't remember the exchange rate then but it was a bigger differential than it is now.
Manufacturers sell their products all over the world and its not at a price set by the exchange rate but on what a market will bear.
 

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