Inflation has fallen again - but is still far above the Bank of England's target rate of 2 per cent
Tracker mortgages follow the Bank’s base rate while standard variable rate mortgages generally do so too, meaning these won’t be immediately impacted by the inflation figure.Fixed-rate products are not affected by interest rate rises for those who are midway through their term, but rates can have an impact on the products offered to new customers and those.
“In the event inflation held or increased markets would have priced in higher and longer base rate rises which would have impacted lenders fixed rate pricing. Although food inflation has been falling in recent months, this does not mean food prices are decreasing. It just means they are increasing in price at a slower rate than before.pensions and those saving for them
, has warned that those who are taking out their pension also suffer in periods of high inflation because they often take out more with each withdrawal to cover their costs. To make matters worse, when people do withdraw too early in their fifties or sixties, that money is no longer there for them to invest later in their retirement.
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