Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
Jack Monroe Exposes Shocking Reality of Inflation
Reading Time: 2 minutesIn Keeping with Jasmine Birtles questioning of the reported inflation rates, mother and cook Jack Monroe has issued a sobering warning that the government claim that the cost of living has only gone up by 5% needs to be investigated for inaccuracy.
Monroe posted a Twitter thread saying how “infuriated” they were that the figure “grossly underestimates the real cost of inflation as it happens to people with the least”. Monroe went on to say that they shop at “one of the Big Four” supermarkets and that the cost of living has increased dramatically since this time last year.
They tweeted: “This time last year, the cheapest pasta in my local supermarket was 29p for 500g. Today it’s 70p. That’s a 141% price increase.”
The cheapest rice used to be 45p for a kilogram bag, but Monroe said: “Today it’s £1 for 500g. That’s a 344% price increase as it hits the poorest and most vulnerable households.”
They continued: “Baked beans: were 22p, now 32p. A 45% price increase year on year.
“Canned spaghetti. Was 13p, now 35p. A price increase of 169%.
“Bread. Was 45p, now 58p. A price increase of 29%.”
The price of inflation has been questioned
Monroe said these prices are completely unfair on people with lower incomes, who were affected much more deeply than high earners.
Follow-up tweets said: “An upmarket ready meal range was £7.50 ten years ago, and is still £7.50 today,” which highlights how “gourmet” food options that could only be afforded by the wealthy are not affected, and how this is grossly disproportionate. said it was unfair – as those on lower incomes were hit much harder than those who earned more.
“One high-end store’s ‘Dine In For Two For £10’ has been £10 for as long as I can remember,” Monroe added. “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).”
Interesting article.
Jack is so right.