As I said already we in the Uk are set to have our already high utility bills rise 54 % on the 1st of April which will mean the average households' energy bill will rise by approx £1700 annually ... and we're already affected by sky high petrol and diesel prices, which is not only troubling us at the pumps, but in many other ways. Produce growers are having to throw away tons of stock because they now can't afford to heat the greenhouses, so Peppers, cucumbers et al are being dumped..
metal prices have shot up in price, making car repairs and the price even of metal needed for canning food has shot up...which ultimately means higher prices for the consumer, even if the products are available..
Today Andrew Neil a very respected journalist in the Daily mail says this..
Russia and Ukraine supply 30 per cent of the world’s wheat exports, 20 per cent of corn exports and 80 per cent of sunflower oil exports.
As these supplies are disrupted, there’s a global food crisis in the making.
You can already see its first manifestations. Countries as different as Serbia and Indonesia have barred exports of grain and cooking oils, thus making global shortages worse.
Flour is now being rationed across the Middle East, especially in Egypt, which relies on Russia and Ukraine for 80 per cent of its wheat.
There is panic buying of sunflower oil in Turkey, where it is widely used for cooking.
Nor is this situation likely to get better any time soon. There will be precious few seeds sown this spring in Ukraine’s rich, black soil.
And the consequences of this will soon be seen in your local supermarket, where food prices are set to soar.
This is a particularly cruel cost-of-living crisis because it involves the biggest price rises in things we can’t do without.
Heating your home and putting food on the table are not discretionary spending or optional extras. The scope for belt-tightening is strictly limited when prices start to soar. You just have to pay up.
That’s why it’s especially painful for less well-off households, which already spend a large chunk of their after-tax income on fuel and food. Some simply won’t have the cash to afford the rising prices.
But the brutal manner in which Russia is fighting the war means Putin will be a global pariah for the foreseeable future. Sanctions will be impossible to end when we’ll be calling for his arrest as a war criminal.
Which, in turn, means high energy prices are here to stay. Even if the war results in sensible changes to our absurd energy policies and obsession with net-zero, they will bring no short-term relief.
Households could face astronomic fuel bills and the repayment of their loans in 2023.