Are interest rates going to go up anytime soon?

Wrabbit_3

Inflation rate (subjective), interest rate (objective) ?
I've often wondered if there isn't an issue with the inflation rate an individual experiences being unique to them, whereas an interest rate is the same for everyone.
For example, someone running a car may well have a different personal inflation rate compared to someone who doesn't.
So, to some extent, we can minimise the inflation we experience.

jimjames

Wrabbit wrote: »

Inflation rate (subjective), interest rate (objective) ?
I've often wondered if there isn't an issue with the inflation rate an individual experiences being unique to them, whereas an interest rate is the same for everyone.
For example, someone running a car may well have a different personal inflation rate compared to someone who doesn't.
So, to some extent, we can minimise the inflation we experience.

Inflation rate is definitely personal and I seem to remember that BBC had a personal inflation calculator on their website at one point. If you pay a higher amount of your income on fuel for example then you'll have higher personal inflation than someone who spends on electronic gadgets that might have dropped in price.

innovate

The ONS still maintains a personal inflation rate calculator
http://www.neighbourhood.statistics.gov.uk/HTMLDocs/dvc14/index.html