Where does the government get their inflation figures from?
August 18, 2008 on 9:46 am | In Debt Management, Remortgages
They just don’t seem to match recent price increases. On the front page of the Telegraph’s business section today there are details of inflation and it appears to be running between 4.4% and 5.3% but how on earth do they come to that when gas and electric have gone up 35%, water is going up similarly, food is going up 13% (although I may be wrong on that depending on where you shop I suppose), fuel fluctuates daily etc.
Have any of you been able to remortgage recently? There’s another major hit to your pocket (if you can get a remortgage that is).
The thing is that previously, before the downturn in the economy, and the arrival of the recession (sorry, not quite yet but mark my words, recession very soon) the good times rolled. We binged on credit to buy luxury items and now, with rising prices we look like we will be binging on credit for basic living needs – however will credit be still available?
Prices are rocketing, wages are decreasing (in real terms) we can’t remortgage for better deals, credit card and loan debts can’t be readily consolidated by remortgage as home prices plummet. It is grim reading ……
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