|
< back to news stories
Inflation increases to three-year high of 5.2%
02/12/2011
Consumer prices index inflation increased from 4.5 per cent in August to 5.2 per cent in September, the hihest rate in thee years.
The increase, which was higher than expected, was affected by the increase in utility bills by the major suppliers.
The rising cost of living puts further pressure on households but is good news for those on pensions and benefits as the September CPI will be used to determine next April's rise in the basic state pension, although they will not necessarily see any improvement in their standard of living.
However, as savings rates fall even more behind inflation, those with savings will also see their nest-eggs shrink faster.
Homeowners aged over 55 years who are worried about rising inflation 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.
|