Gosling's Grouse: A pasty parable

GOSLING'S GROUSE

Lawrence Gosling analyses products which are coming in for growing criticism and asks whether there is such a thing as a bad asset class.

Well, you guessed it – my £2.33 PPI payout did not win me the EuroMillions lottery, so I am back. Part of my winnings went towards a pasty on holiday, but it was a bit of an eye-opener to see how rising commodity prices have affected the price of pasties since last summer. Well that is how an economist would look at it. I prefer to think of it as local bakeries guessing how much they can get away with charging for the eight weeks of the summer until they go back to competing with Greggs for the rest of the year. As I regret just how many pasties I consumed over the past few weeks , I ...