Todays Figures Show a Surprise Fall In Inflation
New Consumer Price Index (CPI) Figures released today have shown a surprise fall in inflation. Previously in February CPI showed inflation at 4.4% Today’s figures show it standing at 4%. However this is still above the Bank of England target of keeping inflation below 2%. It is believed that this fall has been caused by a recent trend from the supermarkets who have slashed their prices in order to get consumers through their doors.
Many Home Owners Keep a Keen eye on the UK inflation figures as the main defence against inflationary pressure is a rise in Interest rate from the Monetary Policy Committee. Our UK base rate has been sitting at a record low for some time now and many speculate that an Interest rate adjustment is just around the corner. The European Central Bank raised it’s core rate to 1.25% just earlier this month and many now expect a knock on effect here. For many who are looking to sell their house a rise in interest rates may be another woe as it will increase the cost of living for those on tracker mortgages. You may be desperate to sell before interest rates inevitably rise if this is the case and you require a quick sale then speak to us first, particularly if your considering selling unfavourably through an Auction.
Many people anticipate a rise in the base rate to be as early as next month, where there is another Monetary Policy Committee Meeting. It is particularly important note that in the month of May they will have their hands on the latest quarterly report which should provide enough data to warrant a rise. If you are planning on moving abroad or simply want a quick sale for whatever reason then do get in touch.
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