Concern over inflation in London/UK

Dear Ladies,

I have been staying in London for 4 years now but never have seen the unprecedented rise in cost of living which has happened few months back owing to turmoil in global ecomony.Being from a banking background, I might sound little esoteric but in layman's terms are we all experiencing the pinch of the recession with our grocery, telephone, electricity bills.My carefree shopping trips have been reduced to on-need-basis spending trips .Now I think twice before buying anything.My heart sank the other day when London was rated the most expensive city in Europe and has become costlier than most of the US major cities.Newspapers flashing headlines of city economy and splurge of tax payers hard earned money.What do you ladies feel has happened to the beautiful city and what is in store for us in future ? Do you feel that the cost of living in and around London has increased of late ?

-Sabitha K

Hi Sabhitha
This problem is all over the world. We have already discussed on this matter. Especially the grocery prices have gone up too much. The cost of living through out the world has gone up.

Aruna ,

Thanks for responding.I wasn't aware that this has already been discussed at a global scale but your response reaffirms that everybody is feeling the hard punch of increasing groceries.

-Sabitha

hi Sabitha & Aruna,

U r rite,prices have gone high,not only groceries ,transportation also became more expensive(i used to commute by bus to work since am still under the process f learning driving) & bus ticket's cost are increased bcos f increase in fuel price.

i hav another experience too,my car driving instructor has stopped his tutions and started looking for full time jobs because currently he is unable to make a living from teaching driving, it has been a very quiet period for many other driving instructors, the situation is not helped with the credit crunch and fuel prices going up, everyone is cutting back on driving tuition.

Cheers,
Uma

Originally Posted by Sabitha_K

Dear Ladies,

What do you ladies feel has happened to the beautiful city and what is in store for us in future ? Do you feel that the cost of living in and around London has increased of late ?

-Sabitha K

Hi Sabitha:

Well prices seem to have shot over the roof. I remember the same situation developed around 2000 in the US, when the fuel prices were below a dollar and then suddenly we had get used to the idea of paying over a dollar to the gallon. Fast forward to 2008 here in the UK, the fuel again has gone over a pound to the gallon.

Earlier I used to happily go around the town as I please but now I plan my trips and try fit in as many errands as I can in one driving trip!

Just the other day, I went to our regular Indian grocery shop and was taken aback when a bag of boiled rice (10kg) costed £14.99 when about 3 months ago it used to be £10.99.

Bread when we first came here was about 80p a loaf and now it is £1.5. People are sure feeling the pinch. I was reading in the local paper about how one shopper moved to shopping in farmer's markets and smaller discount shops from supermarkets to cut down costs.

And with more and more banks falling apart, everyone compares the financial turmoil to the great depression. Sorry I went a little off track here.

Sindhu

Sindhu ,

It was good to see your post and most certainly not off track but you hit the nail on its head because I started this thread after buying a bag of sona masoori rice and was aghast at the increase in price.Since I dont drive , I still haven't felt the repercussions of the increasing fuel on my travel except for the increase of cost on my travel card.With most of the banks failing , it is dark and gloomy days for the rest of the year.I only hope that things get better atleast in the first quater of next year.

Uma ,

Sad to hear the experience with your driving instructor.I have also noticed that most of the kiosks and small shops in my area have been shut down as the owners are unable to manage them in these dire circumstances.

Yes true Sabitha that the prices are going over the roof for past few months. It is a global crisis. In India inflation rate officially is 12-13% but unofficially it is over 20%..Imagine that. In Bby Cauliflower is 100 rs kg, and potatoes 50rs. If that pinches to upper middle and middle class, what is going to happen to the people with lower income..?

In UK situaion is getting worst I think. The housing bubble has burst. All the High street banks are in very unstable shape. People are loosing their jobs. And the situation here wont recover in the near future thats what I hear. It is going to take good 3-4 years to get back to normal. Uk was on its own into recession bcoz of the credit crunch and situation at US is not helping at all.

Hi sabitha, sindhu,swapna and Uma

Perfect example for inflation: I have just been made redundant!!! As i told you mine is a Investment bank based in Canada, hence the whole QA team is being made redundant. Its such a shock for me as did'nt expect..

I am still on my maternity leave until Jan. but need to find another job ASAP. Feel so stressed!!! I know i will be ok in the job market, but going thr' all that process once agin is hell..Fingers-crossed hoping for the best!!!

Sorry, I wanted someone to share my feelings, felt like home here.. If I say these things to Ram he will be stressed too!!, So want to keep calm infront of him and pour out my stress here!!, sorry ladies..

Sravanthi ,

I am also sailing in the same boat if it is any comfort to you.I used to work for one of the top US security firms which filed bankruptcy 2 weeks back and now you know which one ..and yesterday there was an announcement that the dept I work for had 750 job cuts.It was a shock to us when we went to work on monday that we had all lost jobs. The initial shock is so difficult to digest and arrives at the most unexpected time.All I can say is be strong and don't lose hope.

Hi Sabitha, Thanks for the reply. Sorry to hear that u r in the same situation. But I appreciate your positive attitude. I am feeling better now, i know i can get other job but just going through the process again is tiresome. Specially with little one on hand.

Anyway, lets hope for the best.