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Inflation Rises to Highest Level in 20 Years
06/04/2011
The Retail Price Index (RPI) which is used as a measure of inflation rose to its highest level this month in 20 years to 5.5%. The Consumer Price Index (CPI) which is the Government's preferred measure of inflation rose by 4% to 4.4% in February, the highest that it's been in 2 years.
Given that wage increases are at approximately 2% the newly announced figures will be a further blow to family finances.
The Office for National Statistics said that the steep increase was due to increases in the price of fuel, food and clothing.
Homeowners aged over 55 years who are concerned about the level of inflation and would like to know how much money the value of their property could release to help increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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