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It just keeps on rising...
Prices and inflations are rising and we consumers are getting tired. I was literally shocked when this local store was trying to charge me 5 euros for a bottle of water during my business tour to Europe.
Yes, it was a convenience store and there are probably cheaper alternatives out there. But being charged 5 euros for a bottle of water seemed like an outrageous price to me, even in this age of great inflation.
The little girl here is named Marnie and her video has become viral across the UK and now the world. 9 British pounds (equivalent to 11.5 US dollars) for two ice creams? That seems… absurd…
Even the kids are taking notice of how ridiculously expensive the cost of living has become. We don’t rage like she does in the video, but I am sure all of us can relate to her. Well, this is exactly how we feel every time we see price tags on… pretty much everything. Everything is going up like their only limit is the sky. (Or is it?)
See for yourself...
...but the man isn’t exceptionally greedier than other retailers. A source says that 3.50 euros is the average cost of a single cone with a flake nowadays in the UK. There is the rocketing cost of ingredients that he needs to amortize to the price even if the customers are 8-year-old little twins.
When prices rise, it disproportionately impacts lower-income consumers. They tend to spend a higher proportion of their income on necessities such as food than those with higher incomes. This means they have less of a cushion against the loss of purchasing power.
What do they do then? It’s simple, they cut back on small luxuries. That includes dining out at restaurants such as McDonald’s and enjoying coffee at Starbucks. Unlike many expect, the businesses that prize affordability as core competency suffer the most during high inflation. Unsurprisingly, both Starbucks and McDonald's are struggling to demonstrate their staying power and long-term growth prospects.
Some people say that the economy is doing fine – at least on paper, what a big disconnect. Most of us are stressed with the economy. Why? Because not everyone experiences the economy in the same way. Inflation can make the growth indexes look good and can fuel some sectors of the economy. But low-income households, those who are falling behind on prices, are usually the last ones to catch up.
...I am sure the poor girl will cut back on her ice-creams for a while...that's unless her parents decide to increase the pin money
