MSE News: Inflation hits 17-month high

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The Consumer Prices Index hit 3.7% last month, driven by rising food costs and tax hikes ..."

Read the full story:

Inflation hits 17-month high

poppy10_2

Incidentally, while CPI has hit a 17-month high, RPI has hit a 19-year high - the last time RPI was this high (5.3%) was in June 1991.

The surge is due to the fact that both house prices and monthly mortgage payments were falling last year, due to the housing crash and slashed interest rates by the BoE, whereas now house prices are rising and monthly mortgage payments are static or slightly rising.

artha

poppy10 wrote: »

Incidentally, while CPI has hit a 17-month high, RPI has hit a 19-year high - the last time RPI was this high (5.3%) was in June 1991.

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Does this mean that on the main site we will see "best savings rates" at "6.3% - Tax Free" ? Let's not go there again

Sceptic001

How about: Best savings rates: RPI (5.3% last year) + 1%

steady__eddie

Things are looking slightly rosier then for my Leeds Inflation Buster ISA then which I was too lethargic to close last year.
I wonder if my luck will be in and this trend will continue until July the 31st ?

daviedee

same with me my leeds inflation buster isa matures may 31st

artha

artha wrote: »

Does this mean that on the main site we will see "best savings rates" at "6.3% - Tax Free" ? Let's not go there again

Sure enough it's there on the main site