Inflation rate jumps to 2.9%

Can't exactly say I would be sad to see interest rates go up a bit, might start earning a tad more interest on my savings. Mortgage holders have had their break through the recession, lets start rewarding the savers again please.
 
scorza said:
Really? Last time all it did was result in massive queue's outside banks and building societies.
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That was when the pound took a dive and we had several rises in one day. That was a bit of a one off.

The late 80's was when mortgage rates were last "properly" at 15%. Good advice I was given by my parents was not to borrow a mortgage we could afford at current rates (around 7.95% then) but only borrow enough that you could still afford you mortgage if rates doubled eg 15%

A lot of people would be in major trouble in this country if they did rise to 15% again.
 
Greebo said:
That was when the pound took a dive and we had several rises in one day. That was a bit of a one off.

The late 80's was when mortgage rates were last "properly" at 15%. Good advice I was given by my parents was not to borrow a mortgage we could afford at current rates (around 7.95% then) but only borrow enough that you could still afford you mortgage if rates doubled eg 15%

A lot of people would be in major trouble in this country if they did rise to 15% again.
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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
 
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
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We don't need expert opinions thank you, we can manage with our own just fine!!! Now, what about those immigrants, they can surely fit in somehow into the subject. Let's have a think..
 
mr_x_plosion said:
Does this mean even higher petrol prices on the way? 112.9 per litre is already way too high.
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I'd imagine the price of petrol will rise in the coming months yes.

platypus said:
I remember reading an article (can't find it at present) that said petrol would be up on average 15p by April.
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It was an article in the Daily Fail just after Christmas that said they expect petrol to be £1.25 by the end of the year with the various increases in VAT, fuel duty etc. Sad times.

:(
 
britboy4321 said:
Bit of both. OPEC is really, truly, an evil organisation.
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I'd happily let the world screw my country over for the price of its main commodity! :rolleyes:

Oh wait, I already do.. I live in Scotland! :D

All I can say is thank the lord I have around £20k left to pay on the mortgage and that's it done. Been paying into it a lot for years, couldn't quite do the 'pay off in two years' though.

Screw banks and screw being depedent on them. :)
 
Jonny69 said:
Petrol is getting expensive because it's getting scarce. That's what all this peak oil talk is about.
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anticonscience said:
Is it really getting scarce? Or have they just slowed down production to inflate the price?
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britboy4321 said:
Bit of both. OPEC is really, truly, an evil organisation.
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Not sure how much Opec is to blame for this one. The price of a barrel of oil is half of what it was in July 2008 (it has been rising recently but has fallen all week) yet the price of a litre of petrol is not half of what it was in July 2008.:confused:

July 2008 - £1.18 per litre (national supermarket average)
Dec 2009 - £1.06 per litre (national supermarket average)

So it's 10% less when it should really be 50% less and around 53p per litre.

So I'm guessing it's the fuel/refinery companies are keeping the majority of the extra difference (some has gone in duty and vat increases of course but Dec was still 2.5% less VAT than July 2008 so would offset some of the tax increases anyway).

Easy for them to let OPEC take the blame as most people do when they hear that the price of a barrel of oil is rising and hence next week the cost of petrol at the pump increases.

The truth is they never dropped the price of petrol to as low as they should have done. AFter all Shell has to try and keep making its £20billion and Bp it's £10billion annual profits which is hard to do if the price of crude drops unless you don't drop your pump price by as much as you should. ;)
 
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It's only a matter of time before The Sun start a campaign about the cost of fuel duty, the truckers will then threaten to block the roads, and then the supermarkets will lower the prices.

then the government (be that Tory or Labour or Brand X) will then up duty some more to raise prices again.

I really wish I could get rid of my car.

:(
 
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