Pain it also causes. The background to this is high inflation, we have a sequencing that Around The World, particularly sticky, or at least has been here in the uk. That is why the bank has been increasing Interest Rates to try and curb the spending and get that Inflation Rate down. Should they continue to do that today, on the one hand, we have an Inflation Rate in the uk that has been easing a little, and when you dig into some of the details, to look at Producer Price inflation, thatis look at Producer Price inflation, that is further down the supply chain, that is the price is that manufacturers and factories might be paying, suggestions are it could be coming down quite significantly now. On the other hand, headline inflation, 7. 9 , still four times the Bank Of Englands 2 target. When you strip out energy and food, which can be equally volatile core inflation, they are still not falling by enough, wage growth remains quite high as well, and then there are wage comparisons, and in
Responsibility for the fact that inflation in the uk is much higher than it is in comparable countries. In the us, it is 3 . In the eurozone it is 5. 3 . And yet, here in britain, inflation remains stubbornly at 7. 9 because of a decade or more of mismanagement by the conservative party. Lets talk to our work and money reporter peter ruddick. What does this mean for people with mortgages . It what does this mean for people with mortua. Es . , what does this mean for people with mortua. Es . , , what does this mean for people with mortauaes . ,. Mortgages . It was widely expected but unfortunately mortgages . It was widely expected but unfortunately that mortgages . It was widely expected but unfortunately that will mortgages . It was widely expected but unfortunately that will not but unfortunately that will not prevent the pain from hurting. Lets break this down, for people on a variable or a tracker rate mortgage, which tracks the Bank Of England base rate, they will see immediate im