| Eat Out to Help Out Impact on Economy... 16:23 - Sep 16 with 990 views | Dubtractor |
As part of my job I need to keep track of a number of national indices that impact on contract inflation, and I noticed on today's latest publications that the eat out to help out scheme has absolutely hammered the inflation figures - the 12 month figure for CPI for example is now at 0.2%, which is a big drop from the already low 1.1% figure for the previous month.
Does anyone with a better handle on national finances know what the potential impact of that is? The scheme has obviously been great for those participating pubs and restaurants, but is it to the detriment of the economy overall?
edit: obviously this is pretty dull stuff. Also, this isn't meant to be a leading post to pop at the govt, I'm interested to know if there are unintended consequences here. [Post edited 16 Sep 2020 16:24]
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| Eat Out to Help Out Impact on Economy... on 16:42 - Sep 16 with 932 views | catch74 |
I can’t help with an answer but fascinated it’s had such a large impact.
Sales were rung in as normal, so the companies that reduced their prices - McDonalds, Wetherspoons etc etc will have had the impact, amazing how much of an effects the hospitality sector has had. |  |
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| Eat Out to Help Out Impact on Economy... on 16:43 - Sep 16 with 928 views | factual_blue |
I am hoping for a jump to 15% in September.
The September index gives my pension rise for next April.
#selfishbastard
#learningfromthetories |  |
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| Eat Out to Help Out Impact on Economy... on 16:50 - Sep 16 with 914 views | Pinewoodblue |
| Eat Out to Help Out Impact on Economy... on 16:43 - Sep 16 by factual_blue |
I am hoping for a jump to 15% in September.
The September index gives my pension rise for next April.
#selfishbastard
#learningfromthetories |
We should do well out the triple lock but not until wages recover. The wage link isn’t indexed it is a straight percentage increase from one year to the next. Looks like we will have to put up with 2.5% next April |  |
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| Eat Out to Help Out Impact on Economy... on 17:31 - Sep 16 with 837 views | HARRY10 |
The intent was to clear the food that was building up in the freezers - some of it up to 18 months old. The space was needed as contracts would have long been in place supply x amount of (say) chicken at regular intervals, but it was not being sold.
In the guts of those who will always look at the price rather than the quality,
As to the effect of settling the figures for benefit etc increases I doubt it will make much difference - nor will it to the BOE. It was a one off so will be treated as such. |  | | |
| Eat Out to Help Out Impact on Economy... on 17:33 - Sep 16 with 832 views | Swansea_Blue |
I know it's not the focus of this thread, but it had a it of an impact on the number of Covid cases too didn't it? |  |
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| Eat Out to Help Out Impact on Economy... on 19:54 - Sep 16 with 735 views | gordon |
Isn't that headline inflation figure just calculated based on the price of a basket of goods including some food / meal items etc. I don't think it necessarily has much overall significance, beyond the extra gov borrowing needed to reimburse participating places and is more of a statistical anomaly. |  | | |
| Eat Out to Help Out Impact on Economy... on 22:47 - Sep 16 with 596 views | Melford |
We went crazy, that last bank holiday Monday of the scheme we did what we'd normally do in 2 weeks trade in one day and it's completely dropped a cliff since then. It certainly brought everybody out to eat, but it's probably why we have the big rise in Covid cases since then. |  |
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| Eat Out to Help Out Impact on Economy... on 23:05 - Sep 16 with 564 views | Dubtractor |
| Eat Out to Help Out Impact on Economy... on 19:54 - Sep 16 by gordon |
Isn't that headline inflation figure just calculated based on the price of a basket of goods including some food / meal items etc. I don't think it necessarily has much overall significance, beyond the extra gov borrowing needed to reimburse participating places and is more of a statistical anomaly. |
CPI is much more than just a basket of goods, it is based on a pretty wide range of things in the economy.
It could just be a statistical anomaly though! | |
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| Eat Out to Help Out Impact on Economy... on 23:33 - Sep 16 with 524 views | HARRY10 |
| Eat Out to Help Out Impact on Economy... on 23:05 - Sep 16 by Dubtractor |
CPI is much more than just a basket of goods, it is based on a pretty wide range of things in the economy.
It could just be a statistical anomaly though! |
It is one of the variables factored into the BoE's decision on setting the base interest rate, others are
Wage rates — rising wages can cause both cost-push and demand-pull inflation.
Rate of economic growth compared to long-run trend rate
Commodity prices — rising oil prices may cause inflation.
Consumer spending levels
Investment levels
Consumer confidence.
that's not the complete picture though
in this case it was about emptying storage facilities to stock up for the shtshow that will hit after Jan 1st
most of the stuff recently eaten could not be repackaged for the retail market - so rather than dump it, it was fed to greedy dimwits,
any thought that it was to give a boost, should have easily been worked out by asking on Sept 1st
now what ? | | | |
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