UK: Food inflation rises to 18.2% as it hits highest rate in over 45 years

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by mytailorisrich on Friday March 24, 2023 @12:00PM (#35290952)

There is something called price elasticity of demand, which is how much demand reacts to changes in price.

Here we're discussing food... People have to eat so demand for food, at least staples, does not change much when prices rise as long as people can afford to pay (and by and large currently they can).

It should also be noted that in developed countries the price of food has collapsed as a proportion of people's income over the last 100 years. So the reality is that even if prices double demand will probably not change much apart from some arbitrages (go to cheaper brands/supermarkets, drop in demand of a few luxury items and non food items).

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Re:UK: Food inflation rises to 18.2% as it hits highest rate... by dangwhy on Friday March 24, 2023 @01:44PM (#35292821)

> People have to eat

People in west vastly overestimate how much they have to eat.

We wouldn't have health epidemic if people can just stop eating all the time.

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Re:UK: Food inflation rises to 18.2% as it hits highest rate... by slaymaker1907 on Friday March 24, 2023 @04:21PM (#35294909)

This is complete nonsense. Yes, people overeat, but it only takes a small surplus of calories to put on weight.

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Re:UK: Food inflation rises to 18.2% as it hits highest rate... by dangwhy on Friday March 24, 2023 @08:42PM (#35297750)

you really think americans are eating 'small surplus' ?

Last year that number was 3600 ( fda recommendation is 2000, for reference )

imagine what will happen to food prices if americans cut their consumption by half.

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