Reduction in inflation in April 2023 - what is the time lag for indebted UK consumers benefitting from this (or not)?
One of the aspects of taking "a healthy dose of cynicism” is that you are forever trying to balance positive and negative headlines with what that really means to the many people with problem debt and, from a horizon scanning perspective, when this will take effect.
The Office for National Statistics (ONS) headline says that "CPI rose by 8.7% in the 12 months to April 2023, down from 10.1% in March; on a monthly basis, CPI rose by 1.2% in April 2023, compared with a rise of 2.5% in April 2022".
Ofgem and the Bank of England are predicting that energy prices are coming down. British Gas wrote to me this week and said that energy prices are coming down in July 2023. Yet my bills are still going up, including my mortgage, communications/broadband subscriptions and weekly shop. The cost of fuel seems to vary from county to county, where some are ...
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