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UK inflation sticks at five-year high

UK inflation sticks at five-year high

Our CEO, Stuart Law, commented...

It is likely that inflation has peaked at 3%, but will fall very slowly over the next year or two. This will provide little comfort to those losing money every day on their savings where the bank’s rate of interest is less than inflation."

The recent base rate rise will have also driven up borrowing costs, whilst not passing much on to savers so, with inflation perhaps falling slowly now from 3%, this rise may have been implemented prematurely.

Read more...

http://www.p2pfinancenews.co.uk/2017/11/14/inflation-steady-october/

https://www.theguardian.com/business/live/2017/nov/14/uk-inflation-cost-of-living-german-economy-growth-powers-ahead-business-live

 

- November 14, 2017