UK - Are price rises just profiteering?

Question

Couldn't help notice today that the price of a packet of biscuits in Tesco today had gone up overnight from 50p to 73p. Which, doing the 'math', is a Zimbabwe sized rise of 46%.

I couldn't help but wonder, are these sudden and extreem price rises a real reflection of the rise in 'input' costs or, are many companies using the price hike hysteria as a gravy train to boost their profits? All abord the rip-off express?

Answer 1

Of course it is.But they know the stupid roly poly mum and dad with the rumpy pumpy kids will throw any chocolate and fat covered snacks into their trolley then not even look at the total on till as they punch in their pin number on the credit card (feels like it`s free food when you don`t hand over £20 notes)

Answer 2

could nt have said it better myself these Supermarkets love this so called rescessons they pay next to nothing for their stock their Warehouses are packed to the roof with supplies that they bought ages ago and the first chance they get they up the prices of their stock even though they paid a lot less for them THE RICH GETTING RICHER THEPOOR GETTING POORER  GREAT BRITAIN 2008

Answer 3

yes  ..Defoe   ...getting  angry  now  ..i  had  to wear  the   price  of  fuel  couldn't  pass  on   my  travel  cost  so  why  should  they .....they  the   retailers  keep  telling  us  their sourcing  local  but  charge  us   global  sorry  not   happy   ...so  definitely  rip  of  gravy train   now  fuel  lower ,are  prices  going  to  follow   not  in  my  lifetime

Answer 4

I put so much effort no into not being scammed my shopping bill is actually cheaper than last year

Dont tolerate it, shop elsewhere, make THEM loose out by finding a cheaper vendor

They can only charge what we are willing to tolerate and because of that  the consumer sets the prices in reality. If you dont like the price dont buy it there

You may thumbs down but you know the nature of the Beast, its capitalism that IS profiteering, they are not run on communist principals!

You have become dependent on the supermarket and you WILL pay for that.

Brew your own beer, (£3.00 for 13 pints), grow your own potatoes (free) and other fresh produce, make your own bread.

Until you take your power back you WILL be a victim

Make all the excuses you like for remaining a victim, I dont care but im dam sure as h**l im not!

Answer 5

The laws of supply and demand certainly do affect prices but I do believe companies are taking advantage of the recent hike in prices to make greater profits. I feel sure many of the petrol stations are doing this. The large supermarkets appear to adjust prices up and down on a promotional basis in competition against the other stores.

Answer 6

The UK has always been a rip off. Why else would Foreign Companies be falling over each other to buy out British Companies.

I could accept the rise in prices if this was simply done to protect profits - that I can understand. But when these companies then announce yet another record profit margin then I begin to smell a rat.

BP announced yet another 6% rise in profits for the last 3 months only this morning thanks to the rise in oil costs - that's what you call taking the p!ss, especiallly when many in the UK are struggling financially.

I can guarantee the profits of the major food chains and utility companies will show the same.

Answer 7

The prices of food are going up because of several adverse conditions affecting prices happening together,  firstly most of our food is delivered by trucks, Fuel costs have rocketted, mainly because the price of oil a barel of crude has gone up from 65 dollars per barrel to 140 dollers per barrel  because of the weak US dollar and because demand world wide is almost outstripping supply.  This also affects the price of Gas, what can de done, we pay virtully the highest prices for fuel in the world mainly because of Government greed and shortsightedness, greed because the Government tax our fuel twice they are not satisfied with one tax , they have to have two bites of the cherry, lower the taxes on fuel.

Secondly there is a food shortage because  countries as they get richer want more food and more fuel for that matter.

The food chain is hit by transport costs, the price of electricity  and gas has gone up so food production costs a lot more, whether is vegitables, chickens or fruit.

  our precious Government conventienly put a climate levy charge on energy

The came in to being in 2002 and last year they increased it because they thought they get more money from it,do you wonder prices are going up

If we look at France engergy costs are lower, fuel diesel and petrol is lower, as an indication of our Governments  constant greed, boat owners for years gone by have used red diesel as they do not go on theorad obviously our precios chancell Mr Dareling has now decreed that no more red diesel for them he can get more revenue by making them use the same diesel we put in our cars and trucks, just think what the affect is going to on people who live on boats  from 40p per litre up to 129 per litre  plain greed and nothing else

Answer 8

I stopped going to Tesco and started using local shops and

LIDL.The saving in £s is amazing.Supermarkets raise prices

whenever they like and after the offers come.Prices still higher than before.Getting rid of stock they made huge

profits on and selling the rest making more profit so called

cheaply.What they don't sell goes the dump land fill.Putting

our refuse collection up because there's no space.Boycott

Supermarkets and they would soon drop the prices.Tesco

knows i don't go which is why they send vouchers.(Had 3

lots since i stopped using them)

Answer 9

If you think 46% is bad don't buy cheese or you will have nightmares. With the fuel rises this is going to be one harsh winter and nobodies job is safe. You could find yourself nose pressed against Tesco's window doing a tiny Tim this Christmas.

Answer 10

Yes,

The Tax on Fuel, Goods, Gas & Electricy etc, has nothing to to do with the World Credit Crunch,

We pay pay the highest price for Fuel in Europe because of the Tax, ( and it's the same on all our goods )

It's the British Government who put all this Tax on our goods,

We are Taxed to death in this Country,

Answer 11

These companies are trying to bring down Gordon Brown's government so that they get Conservatives back in power.

hth

Answer 12

The government have been putting prices up by forcing costs to increase through their stealth taxation, especially the hauliers' transport costs.  

You are right though - their economic policies are about as sensible as Zimbabwe's.

Answer 13

I dont really know but suspect that companies are jumping on the bandwagon---there is no morality where profit is concerned