Jun 17, 2008
Highest rate since Labour came to power in 97.
Hard times ahead?
No suprise there then.
You bet your bottom dollar its going to be hard times ahead! Reading the details of the letter from the BOE to Captain Darling they predict inflation rising to 4% before the year is out before stabilising next year. I think its a case of batten down the hatches and ride out the storm as best you can. Borrowing money at the moment dosent seem like the best idea unless you have a good disposable income.
I count myself lucky in that my new job I started 3 months ago now gave me a 50% pay rise, and given i've also reduced my motoring expenses by sadly saying goodbye to my A4 3.0 qs. Given we were already just able to afford to pay the mortgage & put food on the table we're a lot more comfortable now, although I intend to save as much as possible for the day it starts pissing it down really really hard! Plus all being well should be getting married Dec/Jan time so will need some pennies for that!!
My advice if you already havent done so is save yourself a small lump sum for emergencies as its only going to get worse this year. Last thing you'd want is the boiler to go bang for instance in Nov & your broke having just done the weekly shopping run!!
i thought that an independant (newspaper) study recently rated the "actual" rate of inflation up around 15% anyway...
i've all but resigned myself to the fact that every news bulletin i hear means i have to reach further into my pocket.
oxygen tax? i hear thats next week....
hmmm 3.3% seems low tbh, I know my disposable cash is dissapearing quickly but with a young family I was expecting it to tbh
I notice the biggest factors in inflation are rising fuel costs and food prices. I daresay the fuel cost contributes a chunk to food cost.
The solution? One might look to bring price of fuel down rather than jack up interest rates.
I think there is one measure of inflation that includes mortgage rates, so if interest rates go up, so will that measure of inflation.
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