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Mervyn King Warns Inflation Is Set to Rise to 5 Percent
31/05/2011
It was recently reported in the National Press that Mervyn King, Bank of England governor, has warned that there will be a continued squeeze on household incomes as the rate of inflation, currently at 4%, is expected to raise to 5% by the end of this year.
This increase in the cost of living has been caused by surging energy prices. The only way that the inflation rate will fall to more manageable levels is if the rate of interest is raised in line with market expectations from the third quarter of this year.
Homeowners aged over 55 years who are worried about 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.
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