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by making credit more expensive, it hopes households will cut back on spending. at 5.25% uk interest rates are now at their highest in 15 years, piling the pressure on mortgage borrowers and businesses. but on wednesday, an indication they might finally be having an effect on inflation. our economics editor faisal islam reports from plymouth in the west of england. the price of fish has been rising for two years, the latest figures show it is up 7% on last year but it was closer to three times that at the beginning of 2023. for this plymouth fishing fleet under the cost of business is a skyhigh. the cost of business is a skyhigh the cost of business is a s hiuh. ~ . . skyhigh. we are all feeling it, aren t we? skyhigh. we are all feeling it, aren t we? the skyhigh. we are all feeling it, aren t we? the employees i skyhigh. we are all feeling it, | aren t we? the employees and general public and the trawlers, there is only so far can go with the field going up, it ....
through a benefits assessment. we can see there. if interest rates go up again today, here at this free debt advice centre, sabrina says things will get even busier. with an additional rate rise, we are absolutely going to see more homeowners struggling to keep up with the pace of those mortgage increases. the bank of england has voted to raise rates 1a times in a row, going from 0.25% to 5.25%. they re hoping that higher interest rates make people spend less, and so shop prices start to fall. the better inflation numbers than anticipated yesterday mean that the bank of england has now a greater chance of keeping rates steady. it means that the bank of england s plan is working. inflation is falling in line with the expectations of the bank of england. and that s a good sign. rising food, petrol, energy costs, rent, mortgage costs are things that everybody ultimately has to pay. so, therefore, it isn t a case of over commitment. oftentimes, it isjust that expenditures a ....