Inflation and interest rates.

I've just heard that the official rate of inflation in the UK is now 4.2%. I've not done any online checking, but I seem to remember last time it was approaching 5% ten or twelve years ago, savers could offset this by being able to get almost that rate on a savings account. What is the savers rate today? Less than sweet ** I think. Yet just try going overdrawn or be late paying off a credit card... Rates for that never seem to go down...

Also on the radio today after announcing the inflation rate, the percentage increase in six major areas were listed, electricity, gas, air fares, petrol, housing and raw materials. I worked out the average of these six, 17%..
Could someone tell me what other major outgoing we spend on has either stayed the same or gone down in order to bring the inflation rate to only 4.2%?
Al.

For most households the mortgage is the biggest outlay. Mortgage rates haven't changed so that would help get inflation down to 4.2%

Maybe you're right Paul, when housing was mentioned, house prices and rent were the specifics. Mind you, wait till the next council tax bill drops on the mat...
Al.

The CPI at 4.2% doesn’t include housing costs, but the CPIH does and that is at 3.8%. I don’t know if hosing costs are the only difference between the two.

I know if I had a mortgage I would be looking to fix it as soon as possible.

Mike

Well fuel is at the highest  price since oil price was double it is now.!!
So a major increase for many of us.

Micky

I like a beer now and again, but usually at home, or if out, with a meal where the cost is lost in the bill. However on Monday we went to Bakewell on the bus, and while my better half was looking around the market, I thought it's a sunny day, I'm not driving, I'll just have a pint in the pub's beer garden. 
My pint of draught bitter was slowly hand-pulled, I was smacking my lips in anticipation as I handed over a fiver, expecting change... Imagine my shock when I was asked for another 70p....
Now I know Bakewell is a bit of a tourist hotspot, but this is the north, small town, small pub, out of season...
As I was slowly sipping this liquid gold, I reflected on my first pub pint 53 years ago.. 1s/10d, or round about 9p... Those better at maths than me can work out the percentage rise in that time...
Al.

Well you weren't in Wetherspoons then!

I guess Wetherspoons was the reason I was shocked, whenever we go out just for a drink, it's always to a 'spoons'.
Al.

bikeralw wrote:I like a beer now and again, but usually at home, or if out, with a meal where the cost is lost in the bill. However on Monday we went to Bakewell on the bus, and while my better half was looking around the market, I thought it's a sunny day, I'm not driving, I'll just have a pint in the pub's beer garden. 
My pint of draught bitter was slowly hand-pulled, I was smacking my lips in anticipation as I handed over a fiver, expecting change... Imagine my shock when I was asked for another 70p....
Now I know Bakewell is a bit of a tourist hotspot, but this is the north, small town, small pub, out of season...
As I was slowly sipping this liquid gold, I reflected on my first pub pint 53 years ago.. 1s/10d, or round about 9p... Those better at maths than me can work out the percentage rise in that time...
Al.

Is it really 53 years since you bought a round??????

bikeralw wrote:I like a beer now and again, but usually at home, or if out, with a meal where the cost is lost in the bill. However on Monday we went to Bakewell on the bus, and while my better half was looking around the market, I thought it's a sunny day, I'm not driving, I'll just have a pint in the pub's beer garden. 
My pint of draught bitter was slowly hand-pulled, I was smacking my lips in anticipation as I handed over a fiver, expecting change... Imagine my shock when I was asked for another 70p....
Now I know Bakewell is a bit of a tourist hotspot, but this is the north, small town, small pub, out of season...
As I was slowly sipping this liquid gold, I reflected on my first pub pint 53 years ago.. 1s/10d, or round about 9p... Those better at maths than me can work out the percentage rise in that time...
Al.

Hi Al,
Commiseration on the price of your pint, myself and the woman-in-charge were staying in Glen Nevis campsite on Monday and ate in the very nearby restaurant. Nice meal just on the slightly expensive side but not too bad until I paid closer attention to the detailed bill.
Five pounds for a pint of, admittedly, very tasty local beer!
I can remember the prices that you quote and I have to add that five pounds would have been more than my wages were then for a week.
The beer was good though...

bikeralw wrote:... I handed over a fiver, expecting change... Imagine my shock when I was asked for another 70p...

Just goes to show! Living in the centre of a city, I wouldn't bat an eyelid if asked for £5+ for a pint, that's just the going rate (I wouldn't darken the door of a 'spoons if you paid me - there are altogether too many good pubs for that.) 

As for that funny money, I missed all of that nonsense by a couple of days!

Tommy.

Weegie wrote:

bikeralw wrote:... I handed over a fiver, expecting change... Imagine my shock when I was asked for another 70p...

Just goes to show! Living in the centre of a city, I wouldn't bat an eyelid if asked for £5+ for a pint, that's just the going rate (I wouldn't darken the door of a 'spoons if you paid me - there are altogether too many good pubs for that.) 

As for that funny money, I missed all of that nonsense by a couple of days!

Tommy.

I'm obviously a bit more.....erm...mature, what would that be in Groats 

Yes, £5+ is the going rate and another vote for not using Wetherspoons. The last time I was surprised at the price of a pint was in a lovely little pub, on a short walk from the Knaresburgh club site.........because it was so cheap!

We have plenty of pubs around here who offer bitter at 2.50/3.00 (usually John Smiths) other than spoons. We rarely if ever go to a pub just for a drink but will go to a spoons for lunch when on tour, cheaper than buying a sandwich in a cafe and includes a drink (soft drink at lunchtime for us if driving).

Paulmold wrote:We have plenty of pubs around here who offer bitter at 2.50/3.00 (usually John Smiths) other than spoons. We rarely if ever go to a pub just for a drink  but will go to a spoons for lunch when on tour, cheaper than buying a sandwich in a cafe and includes a drink (soft drink at lunchtime for us if driving).

I agree Paul. Nowt wrong with a 'spoons', always good beer, and usually located in interesting huge old buildings that would be derelict if it wasn't for 'spoons'. Now I know the arguments that they can put other local pubs out of business, but in hard times they bring employment to town centres and make going out affordable.
Al.

I bought a large portion of chips the other day (to share of course) £4.20.
Thats me on a diet then.
Pete

Spuds have gone up, oil is going up (cooking), gas has gone up, wages have gone up, NI has gone up

Net result, chips are up

Went to another chippee the following week and a large chips was £3.60.

Pete

bikeralw wrote:I like a beer now and again, but usually at home, or if out, with a meal where the cost is lost in the bill. However on Monday we went to Bakewell on the bus, and while my better half was looking around the market, I thought it's a sunny day, I'm not driving, I'll just have a pint in the pub's beer garden. 
My pint of draught bitter was slowly hand-pulled, I was smacking my lips in anticipation as I handed over a fiver, expecting change... Imagine my shock when I was asked for another 70p....
Now I know Bakewell is a bit of a tourist hotspot, but this is the north, small town, small pub, out of season...
As I was slowly sipping this liquid gold, I reflected on my first pub pint 53 years ago.. 1s/10d, or round about 9p... Those better at maths than me can work out the percentage rise in that time...
Al.

I make it 8.1% pa