So who has noticed inflation biting?

Originally Posted by Chrismc

The only problem is, even though I transferred the money in Sterling and she wants to withdraw in Sterling, her own bank does not have any Sterling at all so they are trying to get her some from another city for her by Tuesday, so she can exchange it at Bank No 2 because she needs it to take to Kiev with her Tuesday evening.

Originally Posted by GentleGiant

Never mind the FSU, what about inflation here??

The government can lie all they like about the official figures, but petrol has gone up by 30% in 12 months, electricity and gas by 50%!!!!

Originally Posted by Chrismc

So how does the exchange rate fit into all this, well being from the UK the exchange rate has not changed that much for 12 months or more, so we get less for our money as prices over there rise, but while I was there I saw the USD had dropped overnight against the Grivna by almost 50 cents, so the USD is doing badly there too.

Originally Posted by Spakoyna

Yeah...Inflation is pretty much WW now. I shutter to thing of what the prices will be like when my wife and I go for a visit next year. Last time we were in Russia the exchange rate was close to 29R/$. Now the official exchange rate is under 24R/$. Add that to inflation and I'm sure we are in for major sticker shock. Her mom complains quite a bit about how the prices of essentials such as food, etc. have gone up. Sure wish we could convince her to come here for a visit! My wife's been working on her for a year! Her feet are firmly planted on Tera Russia!

Originally Posted by GentleGiant

Never mind the FSU, what about inflation here??

The government can lie all they like about the official figures, but petrol has gone up by 30% in 12 months, electricity and gas by 50%!!!!

Originally Posted by deccie

I don't think we are in a normal inflationary cycle. I think we are pretty close to a stagflation situation which is actually very difficult for central banks to fight.

I was listening to some economists on the internet radio the other day warning that commodities was going to be the next "bubble" market. It's like the oil price. The underlying "demand" based price is more like $70-80 USD a barrel. All that money that has come out of the stock markets and real estate markets has found a new home in commodities and forced up prices artificially as a result.

Originally Posted by Seaview

Well... Pounds are not popular in FSU. When I need them I call a bank to order them and they deliver a desirable sum in a week or so.

Of course, there is a chance to call into a bank and buy 50-150 GBP but if you need more, it's better to order them in advance.

Originally Posted by Spakoyna

You are absolutely correct here. Investors are driving up the prices of all comodities. The irony of the oil thing is we are padding the accounts of the so called terrorist regions...Middle East,Venezuela,Nigeria,etc. I am hoping the US will finally take that major step to get away from foriegn oil. Although I can afford the gas prices I am trying to use as little as possible. I feel if everyone does the same(which it seems many are doing) the long term effect of this run up will cost them dearly with loss of futures sales. The good thing is it will do wonders for the environment if the end result is to finally break free from fossil fuels!

Originally Posted by OzGuyLooking

Wouldn't it be great if this happened, but unfortunately I don't think it will in my lifetime. The problem here isn't just the regular person on the street buying petrol but industry buying diesel and other forms of energy production. Break the manufacturers and transports reliance on diesel and you may get a change come through environmentally. Break energy industries reliance on products such as coal, gas and nuclear and you might see a change coming.

Concerning global inflation another aspect is people moving to the Euro. I checked the exchange rate yesterday and the Euro to Aussie is about 1-0.56 and the Euro to US is about 1-0.65. Items that used to be charged in US currency are now being charged in Euro's, if the Euro continues to climb in value against the US$ then prices will go up relatively for those who are traditionally linked to the US$. The more countries that move towards the Euro means more things will be charged in Euro's in the primary market pushing up the value of the Euro against other currencies such as the US$ and the Japanese Yen (both of which the AU$ is nearly back to parity with). It is the same situation that occurred in the mid to late 80s when the Yen was the currency people moved to and most countries imported products from Japan. We had better hope that the Europeans don't corner the manufacturing markets as well.

Originally Posted by Spakoyna

Fingers crossed...there is actually some talk going on on the industrial level. I just read an interesting article this morning about a small town in Wyoming that has Ozone levels competing with La and a few others. I believe the population is something around 75! The problem is the equipment they are using for the natural gas wells. They are doing all sorts of creative things to preempt the government from coming down on them.

Originally Posted by Spakoyna

Yeap,Yeap, and Yeap to the rest!

Originally Posted by OzGuyLooking

Spak, until they stop talking and actually doing nothing will change. They have been talking since the early 70s, I remember doing an assignment at school in 1975 on it. The time for talking is over, the time for preventative action is nearly gone, the time for putting up with the damage we have caused is rapidly hurtling towards us.

Originally Posted by OzGuyLooking

Lol.

Sorry for taking it off the inflationary track and onto the environment but they are linked anyway.

Originally Posted by blucatz

Mike, fuel here is up to $4.27 a gallon, you might be in for a big surprise when you get home and get ready to fire up those trucks of yours for the summer work season. I also think gas will hit $4 a gallon by the time I get back from Russia, its at $3.75 now.

Originally Posted by Sparky114

Hi Blu

You think yours is expensive over there try nearly $10 a gallon here in the uk for fuel

Mark

Originally Posted by blucatz

I know you guys pay more over there Sparky, but on the same note, you make more money over there for the same job as over here. Your truck drivers are paid differently than we are and make more $$ per year. Plus, most of the cost of your fuel is in the form of stupid taxes. We just have to admit that it is OPEC that is really running this planet and they stick it to us every chance they get.


2 Days to my in

Originally Posted by Sparky114

ps. Is there a link here to your story? still trying to get enough time to post mine here!!!!

Mark

Originally Posted by Chillidog

for you Aussie's sorry, site I was on was stating no data available

Originally Posted by alfie

Redhawk

The average wage in England is about £2500 GBP per month. My monthly bills (i live on my own) including utility bills, fuel, mortgage & food comes to about £600 GBP per month. If your friend is a doctor or something then i can believe they are earning £10,000 a month, but they must be living in a mansion to be paying that amount out a month.