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UK inflation increases even more to 4.5% during August
14/09/2011
The UK government’s targeted rate of inflation rose once again in August after prices of clothing, footwear, petrol and energy rose.
In July the Consumer Price Index (CPI) inflation was at 4.4% and rose to 4.5% in August and the Retail Price Index increased from 5% to 5.2%.
The Bank of England targeted rate of CPI is 2% and it is expected to return to this level with the next 2 years. But, this increase in inflation rate is being blamed on the increase of VAT to 20% at the beginning of this year and prior increases in energy prices by several banks.
It is believed that inflation will drop by the end of this year and drop even more rapidly next year to resume at its normal rate. But, in the meantime if you are worried about rising inflation and how it may affect you, your pension and your family then there are equity release plans which can help free up some money from your house to help your grandchildren, top up your pension or simply free up some much needed funds.
If you are 55 years and over and a homeowner and want to find out more about how you can free up some money from your home or even lower your interest rates on any existing plans contact the right equity release company for advice on how equity release plans can help you.
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