The BBC is reporting that consumer inflation (RPIX) has risen to 5.2%, its highest level in 16 years. Much of the rise is due to increased energy prices. However it's expected to fall again due to decreased demand and the fall in the price of oil.
The BBC highlights an interesting point - pensions usually rise by 2.5% or RPIX, whichever is higher - so this increase could leave it facing a hefty bill, which is unfortunate since it has just given all our money to the banks.
The BBC highlights an interesting point - pensions usually rise by 2.5% or RPIX, whichever is higher - so this increase could leave it facing a hefty bill, which is unfortunate since it has just given all our money to the banks.
