this post was submitted on 20 Dec 2023
13 points (100.0% liked)

United Kingdom

4108 readers
55 users here now

General community for news/discussion in the UK.

Less serious posts should go in !casualuk@feddit.uk or !andfinally@feddit.uk
More serious politics should go in !uk_politics@feddit.uk.

Try not to spam the same link to multiple feddit.uk communities.
Pick the most appropriate, and put it there.

Posts should be related to UK-centric news, and should be either a link to a reputable source, or a text post on this community.

Opinion pieces are also allowed, provided they are not misleading/misrepresented/drivel, and have proper sources.

If you think "reputable news source" needs some definition, by all means start a meta thread.

Posts should be manually submitted, not by bot. Link titles should not be editorialised.

Disappointing comments will generally be left to fester in ratio, outright horrible comments will be removed.
Message the mods if you feel something really should be removed, or if a user seems to have a pattern of awful comments.

founded 1 year ago
MODERATORS
top 2 comments
sorted by: hot top controversial new old
[–] autotldr@lemmings.world 2 points 11 months ago (1 children)

This is the best summary I could come up with:


A surprise fall in inflation in November has raised hopes that the Bank of England will begin cutting interest rates sooner than expected.

Meanwhile, the prices of a variety of baked goods, including white and wholemeal sliced bread, along with packs of cakes fell between October and November after rising a year ago.

Chef Seema Dalvi, at Dalvee restaurant in Poulton, Lancashire told the BBC that while price rises were slowing down "inflation is definitely killing us".

However, on Wednesday Martin Beck, chief economic adviser to the EY Item Club, said the Bank would now find it harder to justify its "high for longer rhetoric around interest rates".

Chancellor Jeremy Hunt said the latest inflation figures set the UK "back on the path to healthy, sustainable [economic] growth", but that the government would "continue to prioritise measures that help with cost of living pressures".

But Rachel Reeves, Labour's shadow chancellor, said "prices are still going up in the shops, household bills are rising and more than a million people face higher mortgage payments next year after the Conservatives crashed the economy".


The original article contains 918 words, the summary contains 181 words. Saved 80%. I'm a bot and I'm open source!

[–] tal@lemmy.today 2 points 11 months ago

Chef Seema Dalvi, at Dalvee restaurant in Poulton, Lancashire told the BBC that while price rises were slowing down “inflation is definitely killing us”.

Hmm. I wouldn't think that inflation would necessarily be especially bad from a restaurant's standpoint. It tends to be bad for importers and good for exporters. Restaurants don't export, but I wouldn't think that a lot of their costs would be imports, either -- I'd think that they'd mostly be domestic. Labor and such.

googles

Apparently Dalvee is an Indian restaurant.

https://www.google.com/finance/quote/GBP-INR?window=5Y

And it looks like over the past few years, despite the inflation, the pound has strengthened against the rupee. You wouldn't think that that'd be a problem from their position.

I guess maybe they could be importing ingredients used in Indian food from somewhere other than India. Like...okay, I guess rice is probably imported from somewhere else.

googles

Ah hah. From last year:

https://www.theguardian.com/food/2022/jun/22/rice-price-yorkshire-importer-costs

Rising prices of Italian rice have forced buyers to turn to Asia

Rice, along with pasta and bread, was one of the budget foods recent Office for National Statistics’ figures highlighted as increasing in price at a much faster rate than general inflation, with the cheapest rice option now costing 15% more than a year ago.