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Inflation and US comics

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Tjm86:
I know I'm not the only one that dabbles in American imports and I doubt this is going to come as a major surprise but .

Diamond have finally succumbed to the combined pressures to put up import prices

The 7.5% increase is towards the upper end of inflation at this moment in time but with the dollar doing as badly as it is right now it could be worse.

Personally this is going to be the final nail in the coffin.  Down to the last couple of titles but my order is now a fraction of the size for the same price it was a decade ago.  I do wonder how much damage this is going to do to an already struggling sector.

Jim_Campbell:

--- Quote from: Tjm86 on 25 July, 2022, 02:01:50 PM ---The 7.5% increase is towards the upper end of inflation at this moment in time but with the dollar doing as badly as it is right now it could be worse.

--- End quote ---

I'm afraid you've got that the wrong way round with the dollar — the sterling has been steadily sliding since 2016 and is currently schlepping around the $1.20 mark, which makes imports from the US more expensive. A $3.99 book at an exchange rate of, say, $1.48* would have worked out at £2.70. At the current $1.20 rate, the same book comes in at £3.32.


*Which is what it was the day before the EU referendum. Why, yes, I have picked that date completely at random. ;-)

Tjm86:
Sorry Jim, I worded that badly but that was exactly the point I was angling for.  You're right, it is sterling that is tanking against the dollar*.  Not to mention that it is having a major impact on the import price and therefore the price paid in our LCS'.

Given the short to medium term prospects with the economy this doesn't look like a situation that is going to improve any time soon (if ever). 

*the trajectory of sterling against the dollar has been fairly consistent for the best part of 20 odd years.  In fact you'd have to go back to 1985 to find a time when sterling was doing as badly as right now.  To be fair since 2016 it has wavered between 1.40 and 1.20 but that has to be compared against a range of 1.40 to 2.00 of the previous decade.  Of course it could well be purely a coincidence that the referendum coincided with this change, just as it is totally coincidental that Dover is currently gridlocked on the first day of the school holidays with new customs arrangements in place.

Jim_Campbell:

--- Quote from: Tjm86 on 25 July, 2022, 03:48:11 PM ---Sorry Jim, I worded that badly but that was exactly the point I was angling for.
--- End quote ---

Right. Understood!


--- Quote ---*the trajectory of sterling against the dollar has been fairly consistent for the best part of 20 odd years.  In fact you'd have to go back to 1985 to find a time when sterling was doing as badly as right now.
--- End quote ---

It dipped under $1.19 a couple of days back, and it's only been lower twice in the last fifty years — briefly in 2020 and, as you say, for about a week in 1985.

As someone who gets maybe two-thirds of their income in USD, this is actually fantastic news (the difference between $1.48 and $1.19 is effectively a 24% pay rise)… except that it's not, because of the reasons for it. I'd happily have lived with a $1.40+ exchange rate, and not left the EU. :-(

Proudhuff:
The few yank comics I currently get are oversized, either in content or size, so are a bit more pricey but yeah, the way things are I'll not be taking a punt on anything unknown or usual, which I have in the past.

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