Inflation rate jumps to 2.9%

mattheman · 19 Jan 2010 at 13:31

http://news.bbc.co.uk/1/hi/business/8467305.stm

Not long now for base rate rises, and mortgages to rise, next month it'll be much higher, because it'll take into account the vat rise.

UK inflation rose at its fastest annual pace for nine months in December.

The Office for National Statistics said Consumer Price Index (CPI) inflation rose 0.6% last month, with the annual rate up to 2.9% from 1.9% in November.

That was the biggest monthly rise in the annual index since records began and exceeded the City's expectations for an increase to 2.6%.

mattheman · 19 Jan 2010 at 13:55

vonhelmet said:
Hahahaha!

Go on, tell me another one!

As if the plebs are going to give up their 80 inch TVs and Sky subscriptions.

they would if they cant afford it.

mattheman · 19 Jan 2010 at 14:22

The Mad Rapper said:
For you and a lot of other people. That said, perhaps such rates would force a return to prudence and a firm grasp of our finances. There does need to be an end to the cycle of cheap credit.

No we are going to see the 2nd crash come into play, and its a big one.

mattheman · 19 Jan 2010 at 14:24

platypus said:
People can always afford the luxuries.

no they can't if they could afford it they wouldnt buy in on CC.

mattheman · 19 Jan 2010 at 14:27

scorza said:
That's right - Black Wednesday and all that.

A lot of people in this country would be in major trouble if mortgage rates went to 8%, which is why they won't go up that far.

For anyone interested in what the analysts think about these inflation figures instead of OMG HYPoR INFLATION! hysteria: http://www.bloomberg.com/apps/news?pid=20601102&sid=aflF03pD5les

The whole 2% is just a farce.