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Inflation rising - time for a rate rise?
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By (user no longer on site)
over a year ago
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Inflation in this country is a ticking time bomb. The huge increase in the cost of importing from the Far East is going to send inflation to crazy levels. Economically there’s fun times ahead |
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"I agree with others, that nothing will be done for quite some time. Can't have disquiet too soon, following all of the house purchases, at higher borrowing costs 
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Might be time to think about a remortgage with a fixed rate. |
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By *ebbie69Couple
over a year ago
milton keynes |
"Inflation is being watched by the BoE, the Fed, the ECB.
They all see it as a matter of concern but none intend to take any action yet. They are all waiting to see if its temporary. "
Indeed. Quite possibly temporary with lots of factors at play including that ship that blocked the Suez canal which caused problems. They will need to monitor closely as always though. As others say it needs to be kept in control |
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By (user no longer on site)
over a year ago
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"Problem is not much can be had from the far east at the moment. If it cannot be bought inflation can't grow. "
Oh it can it just is being bought with huge shipping increases and increased raw material increases. The cost to just the industries I’m involved in is causing wholesalers to massively increase prices which inevitably is impacting on prices to the end user |
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By *ebbie69Couple
over a year ago
milton keynes |
"Problem is not much can be had from the far east at the moment. If it cannot be bought inflation can't grow.
Oh it can it just is being bought with huge shipping increases and increased raw material increases. The cost to just the industries I’m involved in is causing wholesalers to massively increase prices which inevitably is impacting on prices to the end user "
Yes I see that too the other week of the shipping costs from the far east have gone up. Mostly blamed on the Suez problem but also the pandemic not helped |
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By (user no longer on site)
over a year ago
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"Problem is not much can be had from the far east at the moment. If it cannot be bought inflation can't grow.
Oh it can it just is being bought with huge shipping increases and increased raw material increases. The cost to just the industries I’m involved in is causing wholesalers to massively increase prices which inevitably is impacting on prices to the end user
Yes I see that too the other week of the shipping costs from the far east have gone up. Mostly blamed on the Suez problem but also the pandemic not helped"
The Suez Canal exasperated the problem but it was already crazy prices before that happened. Shipping rates that were $2-3k 12 months ago are now hitting rates in excess of $20k. |
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By *ercuryMan
over a year ago
Grantham |
"Problem is not much can be had from the far east at the moment. If it cannot be bought inflation can't grow.
Oh it can it just is being bought with huge shipping increases and increased raw material increases. The cost to just the industries I’m involved in is causing wholesalers to massively increase prices which inevitably is impacting on prices to the end user
Yes I see that too the other week of the shipping costs from the far east have gone up. Mostly blamed on the Suez problem but also the pandemic not helped
The Suez Canal exasperated the problem but it was already crazy prices before that happened. Shipping rates that were $2-3k 12 months ago are now hitting rates in excess of $20k. "
I've heard that the Chinese shipping agents have set a cartel up to fix prices? |
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By (user no longer on site)
over a year ago
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Surely it’s the shipping lines that benefit from the vastly increased rates ?
It’s a nightmare scenario for shipping agents also. Mine in the UK has had to take on extra staff as what was once a simple procedure has now become a huge hassle. |
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By *ostafunMan
over a year ago
near ipswich |
"Surely it’s the shipping lines that benefit from the vastly increased rates ?
It’s a nightmare scenario for shipping agents also. Mine in the UK has had to take on extra staff as what was once a simple procedure has now become a huge hassle. "
Its the container prices that have gone through the roof and as china own and make the vast majority of these they can control the price. |
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By (user no longer on site)
over a year ago
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You mean the cost of the actual manufacture of the container itself ? No that’s incorrect, it’s the cost of the actual shipping on the vessel that’s gone through the roof. To ship it from port to port |
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By *ostafunMan
over a year ago
near ipswich |
"You mean the cost of the actual manufacture of the container itself ? No that’s incorrect, it’s the cost of the actual shipping on the vessel that’s gone through the roof. To ship it from port to port "
No i didnt say anything about the cost of making them although they are deliberately not making as many as needed to keep the price high, the cost of hiring a container has gone through the roof due to several things, more demand due to covid, empty containers being in the wrong place and to a small extent the ship being stuck in the suez.
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By *ostafunMan
over a year ago
near ipswich |
"You mean the cost of the actual manufacture of the container itself ? No that’s incorrect, it’s the cost of the actual shipping on the vessel that’s gone through the roof. To ship it from port to port "
No i didnt say anything about the cost of making them although they are deliberately not making as many as needed to keep the price high, the cost of hiring a container has gone through the roof due to several things, more demand due to covid, empty containers being in the wrong place and to a small extent the ship being stuck in the suez.
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By *amish SMan
over a year ago
Eastleigh |
"Problem is not much can be had from the far east at the moment. If it cannot be bought inflation can't grow.
Oh it can it just is being bought with huge shipping increases and increased raw material increases. The cost to just the industries I’m involved in is causing wholesalers to massively increase prices which inevitably is impacting on prices to the end user "
Nice problem to have, some of my suppliers just can't get the raw material, so to me it does not matter how high the cost. |
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By *ackal1Couple
over a year ago
Manchester |
Doesn’t bode well for replacing EU trade with global trade does it. Not much security of supply or price out there.
It’s the shipping lines that are profiting on this at the moment. They learnt the lesson of over capacity a few years ago and are now ripping off shippers no matter what your size. |
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By *bernath OP Couple
over a year ago
Gloucestershire |
Heard about the shipping container prices, it sounds like a plausible argument.
Shows how reliant we are on imports to meet consumer demand.
Makes you think about how much this country is at the mercy of economic factors which are beyond our countries control, or so we are led to believe. |
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By *ackal1Couple
over a year ago
Manchester |
"The EU is experiencing the same supply issues as the UK - not a UK far east issue, but global. Why do you think German car makers are reporting new car supply delays, and reductions in shifts. "
If we import from Germany or in fact export the cost can double but then you get to a point economically where you can send your own truck to collect or deliver. Goods to and from the Far East can double, triple quadruple and what’s your alternative. You have no choice but to pay or don’t trade.
Yes we all including Germany import from the Far East but the U.K. imports far more of everything.
Markets closer to home are and will always be more costs effective despite the nonsense being thrown out by this government about great new opportunities on the other side of the world.
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" Markets closer to home are and will always be more costs effective despite the nonsense being thrown out by this government about great new opportunities on the other side of the world. "
True when comparing costs (although not always, depending on sector and product)
I’m quite surprised by your view that encouraging business to expand in to overseas markets (on the other side of the world) is nonsense.
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