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Factory Gate Prices Up Nearly 6 Percent
27/07/2011
In June, it was reported that the price of manufactured goods rose faster than expected. The increase in the price of raw materials rose to 17% (from 16.1% in May) and the inflation for goods leaving factories rose to 5.7% (up from 5.4% in May).
The Bank of England continue to report that the rate of inflation is 4.5%, more than 2% higher than the target. They have continued to keep the interest rate low as it is not believed that the economy is strong enough to sustain a rise in the cost of borrowing.
Markets now suggest that a rise in the interest rate is unlikely until next summer.
Homeowners aged over 55 years who are worried about rising prices and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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