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Slightly lost in the midst of everything else that’s going on right now was the news this week that inflation rose to 5.4% in December, its highest rate for 30 years.
The 5.4% figure prompted Jack Monroe – the @BootstrapCook – to share some figures about the ‘real cost of inflation as it happens to people with the least’.
And it’s a hugely important and enlightening thread about the ‘real cost of the cost of living price rises’.
1.
Woke up this morning to the radio talking about the cost of living rising a further 5%. It infuriates me the index that they use for this calculation, which grossly underestimates the real cost of inflation as it happens to people with the least. Allow me to briefly explain.
— jack monroe (@BootstrapCook) January 19, 2022
2.
This time last year, the cheapest pasta in my local supermarket (one of the Big Four), was 29p for 500g. Today it’s 70p. That’s a 141% price increase as it hits the poorest and most vulnerable households.
— jack monroe (@BootstrapCook) January 19, 2022
3.
This time last year, the cheapest rice at the same supermarket was 45p for a kilogram bag. Today it’s £1 for 500g. That’s a 344% price increase as it hits the poorest and most vulnerable households.
— jack monroe (@BootstrapCook) January 19, 2022
4.
Baked beans: were 22p, now 32p. A 45% price increase year on year.
— jack monroe (@BootstrapCook) January 19, 2022
5.
Canned spaghetti. Was 13p, now 35p. A price increase of 169%.
— jack monroe (@BootstrapCook) January 19, 2022
6.
Bread. Was 45p, now 58p. A price increase of 29%.
— jack monroe (@BootstrapCook) January 19, 2022
7.
Curry sauce. Was 30p, now 89p. A price increase of 196%.
— jack monroe (@BootstrapCook) January 19, 2022
8
A bag of small apples. Was 59p, now 89p (and the apples are even smaller!) A price increase of 51%.
— jack monroe (@BootstrapCook) January 19, 2022
9.
Mushrooms were 59p for 400g. They’re now 57p for 250g. A price increase of 56%. (This practise, of making products smaller while keeping them the same price, is known in the retail industry as ‘shrinkflation’ and its insidious as hell because it’s harder to immediately spot.)
— jack monroe (@BootstrapCook) January 19, 2022
10.
Peanut butter. Was 62p, now £1.50. A price increase of 142%.
— jack monroe (@BootstrapCook) January 19, 2022
11.
These are just the ones that I know off the top of my head – there will be many many more examples! When I started writing my recipe blog ten years ago, I could feed myself and my son on £10 a week. (I’ll find the original shopping list later and price it up for today’s prices.)
— jack monroe (@BootstrapCook) January 19, 2022
12.
The system by which we measure the impact of inflation is fundamentally flawed – it completely ignores the reality and the REAL price rises for people on minimum wages, zero hour contracts, food bank clients, and millions more.
— jack monroe (@BootstrapCook) January 19, 2022
13.
But I guess when the vast majority of our media were privately educated and came from the same handful of elite universities, nobody thinks to actually check in with anyone out here in the world to see how we’re doing. (Fucking terribly, thanks for asking.)
— jack monroe (@BootstrapCook) January 19, 2022
14.
Every time there’s a news bulletin on the rising cost of living, I hope that today might be the day that that some real journalism happens, and someone stops to consider those of us outside of the bubble. Maybe today might finally be that day.
— jack monroe (@BootstrapCook) January 19, 2022
15.
(But seeing I’ve been banging on about this for a decade now, it’s probably not going to be. Thanks for reading anyway, I appreciate it.)
— jack monroe (@BootstrapCook) January 19, 2022
16.
And just to add:
– an upmarket ready meal range was £7.50 ten years ago, and is still £7.50 today.
– a high-end stores ‘Dine In For Two For £10’ has been £10 for as long as I can remember.
– my local supermarket had 400+ items in their value range, it’s now 91 (and counting down)— jack monroe (@BootstrapCook) January 19, 2022
17.
The margins are always, always calculated to squeeze the belts of those who can least afford it, and massage the profits of those who have money to spare. And nothing demonstrates that inequality quite so starkly as tracking the prices of ‘luxury’ food vs ‘actual essentials’.
— jack monroe (@BootstrapCook) January 19, 2022
18.
To return to the luxury ready meal example, if the price of that had risen at the same rate as the cheapest rice in the supermarket, that £7.50 lasagne would now cost £25.80.
Dine In For £10 would be £34.40.
We’re either all in this together, or we aren’t.
(Spoiler: we aren’t)
— jack monroe (@BootstrapCook) January 19, 2022
19.
Now, picture if you will, the demographic of the voter who has kept the current Party in power for the last 11 years. Imagine the Chancellor having to explain to them that their precious microwave dinner now cost almost four times what it did yesterday.
Yeah, didn’t think so.
— jack monroe (@BootstrapCook) January 19, 2022
20.
I mean of all the things, the Prime Minister claiming that he’s cutting the cost of living while the price of basic food products shoot up by THREE HUNDRED AND FORTY FOUR PERCENT is the one I’m properly angry enough to riot over.
— jack monroe (@BootstrapCook) January 19, 2022
And just a few of the many things people were saying about it.
Important thread on #thecostofliving by @BootstrapCook https://t.co/pHxTgwrlLy
— Nigella Lawson (@Nigella_Lawson) January 19, 2022
This is an extraordinary description of what has happened to your supermarket receipts 🙀👏. Absolutely love @BootstrapCook https://t.co/r43skdBPGk
— Dr Xand van Tulleken 🏳️🌈 (@xandvt) January 19, 2022
The real cost of the cost of living price rises: https://t.co/8GM8PpjAUD
— David Schneider (@davidschneider) January 19, 2022
Please read this👇, Jack is a true champion, hero and explainer of real life ♥️ https://t.co/YDvr55Gq34
— Tom Kerridge (@ChefTomKerridge) January 19, 2022
You really should read this. https://t.co/EfHQVkbq2j
— Russ Jones (@RussInCheshire) January 20, 2022
Jack’s thread is absolutely on the money… https://t.co/hg7gi1o3lL
— Ian Rankin (@Beathhigh) January 19, 2022
Interesting. https://t.co/r55CeiQZzl
— Hugh Grant (@HackedOffHugh) January 19, 2022
Many asking me if I've seen this from Jack. Yes. Its a brilliant visceral example of the sadly long known fact that inflation is often regressive, hitting those-with-less more. It does get coverage, but is often lost. This makes it plain. Worth a read. https://t.co/cyLfgPmIJM
— Martin Lewis (@MartinSLewis) January 20, 2022
Thread on the real cost of inflation to those with little money. Being poor is expensive https://t.co/OYgCgI8TBl
— Samuel West 💙 (@exitthelemming) January 19, 2022
Important thread 👇 https://t.co/lvSKMrdk2f
— Sue Perkins 💙 (@sueperkins) January 20, 2022
Anyone who watches their grocery spend knows this is true. https://t.co/XBbErGafXj
— Dominic Minghella (@DMinghella) January 19, 2022
Last word to Jack Monroe.
3.5 MILLION people have read this thread. Thanks everyone for your support and collective fury – keep it going! (And please, if you’re in a position to help out the millions of people who will have no choice but to turn to food banks, please text TRUSSELL 5 to 70085 to donate £5) https://t.co/vUYM3SgPaG
— jack monroe (@BootstrapCook) January 20, 2022
Follow @BootstrapCook on Twitter here!
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The post Jack Monroe’s thread about the true cost of inflation ‘as it happens to people with the least’ is an important read appeared first on The Poke.
Source: ThePoke
