Inflation

JimmyVik · 09-05-2022 12:57pm

This inflation is starting to bite alright. Started feeling the effects of it.

Did a bit of cost saving at the weekend in the name of inflation. Squatting in the p[arents house at the moment but paying all the bills, so I feel the pain. At least i dont have to pay rent somewhere else.

I'll do another bit of analysis this weekend on spending.

The results this week were - and im making the phone calls to cancel / change now today.

Cancelled Sky.

Changed mobiles for everyone in the house to cheapest option i could find.

In contract on electricity and gas at the moment but i already know where we are going when thats up. Same with phone and internet.

Changed holiday plans from centerparcs to a foreign holiday.

Cancelled the shed we had ordered. Dont need it that much.

Cancelled all charity donations and anything that s not a digital subscription too straight away.Went through all of the streaming subs that were creeping up. Then had a look at the digital one and ended up cancelling Netflix and Amazon prime (that will help us with not ordering sh!te online as much). Just keeping Disney channel for now.

I ordered an ariel i will put up at the weekend for saorview too.

Decided to drive the extra km to aldi and lidl for shopping and drive straight past tesco. Jesus the prices in Tesco are running away with themselves. Cant imagine what Dunnes is like now because even a couple of years ago they were getting expensive.

If my company even attempts to bring us back to the office im just quitting. Either i'll look for a new job after a while or i will go traveling for the year. Ideally i would like to just retire after that. We will see how it goes.

Spotify is on the chop list too, but not sure yet. Im the only one who uses it, so i might go down to a single sub.

So far though ive been able to save a lot just by looking at spending. I think i'll get it down even more.

UsBus · 09-05-2022 3:46pm

https://www.boards.ie/discussion/comment/119031114#Comment_119031114

Ya seen it myself recently, popped in to pick up 2 Fish & chips from the local takeaway last Friday eve, €19......Not setting foot in there again. Paid €16 for 2 rolls and coffees recently as well. These are West of Ireland prices as well. Am done with takeaways and petrol station impulse lunches as much as I can bar the odd treat. I'm aware of Covid and inflation but it really feels a complete rip off at this stage.

The garages that invested in massive shops to get people in from the pumps will soon be feeling the pain I reckon. People are really copping on to their spending.

combat14 · 09-05-2022 3:47pm

https://www.boards.ie/discussion/comment/119035937#Comment_119035937

dont fly and save even more :)

PokeHerKing · 09-05-2022 4:34pm

https://www.boards.ie/discussion/comment/119033532#Comment_119033532

If you're price sensitive you should be avoiding supervalu at all costs.

dalyboy · 09-05-2022 4:39pm

https://www.boards.ie/discussion/comment/119037053#Comment_119037053

Have you checked the comparison between holidays abroad and holidays in Ireland ? Overall I’d say you’d save 40% abroad vs Ireland (and that’s before you count in guaranteed sun to boot)

09-05-2022 4:50pm

For a long time people were scoffing at those who suggested that a massive reduction of discretionary spending was imminent, citing the fact that coffee shops and cafes were all full.

I think it’s clear now people are waking up to the cost of a coffee or a breakfast, just to throw out those examples. People who I speak to are genuinely worried, as I am. And that discretionary spend is completely off the table for now. It’s going to be really tough for hospitality in Ireland

Viscount Aggro · 09-05-2022 5:29pm

Barbers are joining in the price rises.

EUR 20 for a dry cut these days.

Is it the sensual experience they are paying for?

People will be cutting their own shortly.

NIMAN · 09-05-2022 5:36pm

https://www.boards.ie/discussion/comment/119037340#Comment_119037340

While it is tough to see businesses struggle, Ireland's tourism and hospitality sector sometimes is its own worst enemy.

They have been bogging their arms in for years now, it was always far too expensive a country to stay and eat in. If the coffee shops sorted out their prices and stopped fleecing people, I'm sure they would still hold on to enough customers to make decent profits.

Chickens coming home to roost?

Cluedo Monopoly · 09-05-2022 5:39pm

You ain't seen nothing yet I reckon. I also see a sharp recession starting in Q4.

Cluedo Monopoly · 09-05-2022 5:42pm

https://www.boards.ie/discussion/comment/119026776#Comment_119026776

Our pre Covid sovereign debt makes it even worse. A few tough years ahead.

riclad · 09-05-2022 5:43pm

Europe is voting to stop buying oil from russia , this is increasing energy prices , all factory's use energy to make goods, the cost of a basic container has gone up by 5 times, costs in transportation goods has gone up, so since the pandemic inflation has risen. Many factory's in China have closed or reduced production since the pandemic. Its not just the supply of money that causes inflation. Its also the rising cost of oil gas diesel energy . Every truck needs diesel or petrol to run. Most goods are moved by container from China or other country's.

Pussyhands · 09-05-2022 5:48pm

Everything has gone up. That 3 donuts for 2.50 in lidl has gone up to 2.60

Pussyhands · 09-05-2022 5:52pm

https://www.boards.ie/discussion/comment/119037541#Comment_119037541

I've gone from a short back and sides, scissors on top to blade all over. 10 euro v 23 euro.

combat14 · 09-05-2022 5:56pm

https://www.boards.ie/discussion/comment/119037340#Comment_119037340

desserts seemed to have rocketed from a fiver to 8 euro 50

value for money seems to be a thing of the past .. looks like it is time for the consumer to vote with their feet ..

Pussyhands · 09-05-2022 5:56pm

Things are going to get real messy in the coming months. There's already cafes closing down because of staff shortages and price rises.

People say just pay people more but then they have to up prices to pay for all the increase in electricity, labour. Then when prices go up people won't pay it.

And then with all the Ukrainians filling up the hotels and guesthouses.. Where are the supposed tourists going to stay? There's probably people looking at booking here and put off by the prices.

PokeHerKing · 09-05-2022 5:58pm

Takeaway coffee are a rip. Most places are charging 3e a pop!

Sierra Oscar · 09-05-2022 6:00pm

https://www.boards.ie/discussion/comment/119037665#Comment_119037665

And an awful lot of people are paying those prices for their coffee. Cafes are as busy as ever.

Indestructable · 09-05-2022 6:01pm

I bought a clippers during the pandemic, it'll be back to that for me. 20 euro for a cut ain't good value.

SuperBowserWorld · 09-05-2022 6:03pm

The bust is going to get bustier.

Ubbquittious · 09-05-2022 6:04pm

https://www.boards.ie/discussion/comment/119037635#Comment_119037635

I am growing a pony tail. With the pre booking and queues after the covid I couldn't be arsed anymore. Besides the pony tail in fits nicely with the free-spirited image I'm trying to cultivate for myself

Ubbquittious · 09-05-2022 6:05pm

https://www.boards.ie/discussion/comment/119037576#Comment_119037576

They went to absolute town on it during the staycation years. If they're lucky they'll make hay this year but long term doent look great

09-05-2022 6:08pm

https://www.boards.ie/discussion/comment/119037670#Comment_119037670

The guy who owns my local coffee shops tells me spend per person is way down.

Pussyhands · 09-05-2022 6:18pm

https://www.boards.ie/discussion/comment/119037670#Comment_119037670

That's because everyone thinks everyone else is still living as normal.

When people realise they're the ones getting ripped off and everyone else is being sensible they'll not want to be the odd one out getting ripped off.

There's a lot of keeping up with appearances going on nowadays

Sierra Oscar · 09-05-2022 6:27pm

https://www.boards.ie/discussion/comment/119037738#Comment_119037738

I'm not so sure. Supply chain issues are a major factor in driving current inflation, but so is consumer spending. People have been spending money in a big way since Covid restrictions have eased.

To be honest, I thought things would have eased off significantly by now but there's still no sign of a let up. Big, big numbers in Dublin City centre socialising again this weekend after a bank holiday weekend. Large numbers of tourists in the city too. The Central Bank have indicated that spending is likely to ease off later in the year and return to a more stable pattern, but we've some people expecting a collapse in consumer spending. I wouldn't be so sure.

One issue I see is that with inflation savings are being eroded significantly. Interest rate rises are lagging behind the rate of inflation and the ECB has been slow to act. People will not see any incentive for saving for some time yet. This in turn could actually continue to fuel inflation. There's an incentive for people to spend what they have.

Don't get me wrong, a huge cohort of people will struggle with a cost of living crisis. However on the other hand there are whole industries that are awarding pay rises to match inflation. Everyone is not feeling this cost of living crisis equally.

Pussyhands · 09-05-2022 6:29pm

https://www.boards.ie/discussion/comment/119037576#Comment_119037576

Our hospitality sector were the ones who supported the segregation of society based on vaccine status. Never forget that.

They were happy to keep young people who were not yet given access to a vaccine, out of their premises...while they were happy for the young unvaccinated people WORK inside their premises. No sympathy for them.