September Inflation Figures
It has been announced that the Consumer Prices Index inflation rate for September 2007 was 1.8% which is the same as the previous month.
This will be reassuring for anyone struggling with increased repayments on loans and mortgages following the steady rate rise increases we have had over the last year or so. It makes it even less likely that there are any further increases in the Bank Rate in the near future.
Money is more expensive and less easily available currently due to the credit crunch. Oil prices are currently very high at $86 barrel and food prices are on the increase due to growing world demand. It would seem that the easy credit and spend, spend, spend, era is now over and we shall have to wait and see if the stock markets of the world continue to rise. It seems unlikely since reduced consumer borrowing and spending must surely filter through to reduce company profits and consequent company values. We live in interesting times.
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