UK Inflation Rises to a 40 Year High of 9%

Fat_Dragon

Fat_Dragon

Well-known member
www.bbc.co.uk

UK inflation hits 40-year high of 9% as energy bills soar

UK inflation rises to its highest rate for 40 years in the year to April, jumping to 9% from 7%.
www.bbc.co.uk

The main price shifts over the year to April:

• Natural gas - 95.5%

• Electricity - 53.5%

• Motor fuels - 31.4%

• Furniture and maintenance - 10.7%

• Restaurants and hotels - 8%

• Food and non-alcoholic drinks - 6.7%


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Cue another interest rate rise to really help out this ever growing inflation and to help out us during the worst cost of living crisis in living memory.

On the positive all that money we’ve all got stashed under the mattresses we can now put in the bank and start saving.

I’ve said it before and I’ll say again this countries economic policy is fooked
 
Pak_Doo_Ik said:
Cue another interest rate rise to really help out this ever growing inflation and to help out us during the worst cost of living crisis in living memory.

On the positive all that money we’ve all got stashed under the mattresses we can now put in the bank and start saving.

I’ve said it before and I’ll say again this countries economic policy is fooked
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The thing is we have to respond to other nations increasing their interest rates. If we don’t we hamper import/exports as the pound would be weaker. The BoE are stuck between a rock and hard place

The world needs to realise that raising interest rates isn’t going to inflation, as said in another thread is a global problem, but if everyone raises interest rates no one benefits from it
 
BoroFur said:
Liz Truss is telling Oil and Gas companies not to agree to a windfall tax but to invest their excess profits instead 🤔
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Invest in massive dividends. The likes of BP made thousands of job cuts only two years ago because they were spooked by low oil prices due to COVID. As recently as April 2020 they were confidently claiming Brent Crude would never go beyond $50 a barrel again!
 
GazC_MFC said:
The thing is we have to respond to other nations increasing their interest rates. If we don’t we hamper import/exports as the pound would be weaker. The BoE are stuck between a rock and hard place

The world needs to realise that raising interest rates isn’t going to inflation, as said in another thread is a global problem, but if everyone raises interest rates no one benefits from it
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I understand that and I have to say I love the rhetoric the tories are pumping out, first it was Covid’s fault, then the war in Ukraine and finally the BoE. Also add in to this it is global issue and not just our problem, in fact it’s everybody’s fault but not the tories.

Increasing interest rates is doing nothing to keep costs down of our imports from what I have seen and maybe we should try a weaker pound as keeping the pound competitive isn’t really having the desired effect at the moment.

But what do I know, I’ll leave it to the experts as they are seem to be doing a cracking job so far
 
Pak_Doo_Ik said:
I understand that and I have to say I love the rhetoric the tories are pumping out, first it was Covid’s fault, then the war in Ukraine and finally the BoE. Also add in to this it is global issue and not just our problem, in fact it’s everybody’s fault but not the tories.

Increasing interest rates is doing nothing to keep costs down of our imports from what I have seen and maybe we should try a weaker pound as keeping the pound competitive isn’t really having the desired effect at the moment.

But what do I know, I’ll leave it to the experts as they are seem to be doing a cracking job so far
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This is the problem with this government, the blame everything and then threaten to change it to true detriment of the British public.

We have the least democratic government we’ve had in my lifetime, the go around threatening independent bodies etc etc
 
It seems the Tories on the board seem to miss these sort of threads, somewhat bizarrely.

Add to the mix over £400m per week lost due to Brexit, the absolute mess in NI, the massively increasing poverty in this country and the speedy erosion of our democracy and its plain to see how much this government have fkd over the huge majority of the British people.

Still, the board Tories will always fall for the dead cat.

Some a couple of weeks ago were having Starmer hung, drawn and quartered even though he's not been proven to have done anything wrong, yet will turn and deflect from the numerous scandals this Government finds itself perpetually engulfed in.
 
One of the worse traits of this government (and believe me there are thousands you could choose) is their ability to perform a U turn weeks and months to far down the line. It is looking increasingly likely that there will be some sort of windfall tax imposed on energy companies, how many weeks/months have labour and other opposition parties been calling for this. An emergency budget of some sort is being drip fed in to the media, yet every day they do nothing causes the public more harm.

It is all just a game to them and they will do something when they think it will have the biggest political impact rather than when it will do most good.

The met need to get their finger out and issue some more fines so that the Tory propaganda machine can get in to full effect and we might see some financial help coming our way!!!
 
the worrying thing is we are nowhere near the end of this inflation - long way to go yet.

there wont be much new house building going on as there will be plenty available once the interest rates start to climb and good people find their mortgages doubled and tripled - history shows that is how capitalism works when inflation starts climbing.
 
Johnny Vincents Motorbike said:
the worrying thing is we are nowhere near the end of this inflation - long way to go yet.

there wont be much new house building going on as there will be plenty available once the interest rates start to climb and good people find their mortgages doubled and tripled - history shows that is how capitalism works when inflation starts climbing.
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Do you think rates will reach 9%. That’s what it’ll take for some peoples mortgages to double
 
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