21/04/2009 by bill.

The UK Retail Price Index was -0.4% in March the first time it has been negative for 48 years.

The Consumer Price Index (CPI) which excludes housing costs including mortgage payments remained above the government target of 2.0% but was down to 2.9%.

Most experts expect the rate of inflation to fall further over coming months.

Many people will feel that their personal experience is that prices are increasing not decreasing. You will find a link to a useful personal inflation calculator and other money tools tools on moneyjungle.net.

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15/10/2008 by bill.

The latest consumer price index show inflation now running at 5.2%. This is driven in part to higher food and fuel prices and is expected to fall in coming months provided recent falls in world oil and commodity prices is sustained and as demand falls.

But for many of us the real rate of inflation will be much higher than the official statistics.

The Office for National Statistics has produced a useful Personal Inflation Calculator to allow users to work this out for themselves.

The headline retail price index hit 5% this month and this is the rate that the government is likely to use when calculating pension rises for 2009.

Click here for more useful money tools.

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10/09/2008 by bill.

Falling oil prices are not only important to us in terms of the cost of filling our cars but should help underpin lower UK inflation rates and therefore interest rates. Oil prices also impact on food prices and on every thing else we buy. Even home energy prices benefit because gas prices are linked to oil prices.

Provided world oil prices do not soar again, economists are forecasting that UK inflation will fall back to around 2% pa in 2009, this should mean significant cuts in interest rates over the next few months. This will be welcomed by borrowers especially those seeking to get a mortgage for the first time but savers will suffer and now may be a good time to look at fixed rate savings accounts, ISAs and savings bonds.

For more about selecting the right savings account for you see moneyjungle.net

Posted in Inflation, Oil prices, Interest rates, Energy bills, Savings | Print | 1 Comment »