Whether you wish to measure it as RPI or CPI inflation is on the up, something which we haven’t seen at these levels for quite sometime.
The difficulties with inflation will be the impact on those living on fixed incomes and young families with mortgages.
With the Bank of England’s economists charged at keeping inflation at levels set by George Osbourne each year, interest rates will definitely increase if not this coming month then next. Interest rate increases will be yet another burden needing to be absorbed in to households monthly budgets as salary increases in both private and public sectors will be unheard of for this year and possibly even next.
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