I'd not be overly worried about 3%ish. As long as wage and pension payouts rise with inflation. Knowing the cause(s) of where the rate is going, is more important.
Do you honestly believe some of the, well tosh, you write?
Just what do you think would happen with Labour in power spending money like water let alone McDonnels ' run on the pound' ?
From many of your posts I suspect you have little or no understanding of economics. Maybe read up a bit in your spare time (but go for non political learning) it can be quite interesting.
It's what happens when you print worthless money (or borrow it on a promise when you have no means of repayment other than IOUs). All governments do it, Mikey, not just Tory ones. This is because the UK is addicted to seeing its government spend money it hasn't got on things the public once never had but now cannot live without.
so there was no rampant inflation under a Labour government?
Must admit, am not impressed with the rise in the cost of a loaf - gone from 75p to £1, am not very good at sums, but even I know that's more than 3.1%
NJ, isn't that similar to the housing thingy?
Someone buys a house for £100,000 - someone comes along and says it's worth £300,000
so the owner (ahem) takes out some money against the inflated price, mortgage goes up and no means to repay?
(just wodering)
Sorry, Mikey, but I clearly remember the 70s and our mortage rate going sky high at a fast rate (about 15%). We were young, buying our first very cheap house. Had only second hand furniture and were living hand to mouth to the point where we were scrabbling about to find money for me to take a bus to work. Do you not remember? I have no idea what age you are.