Inflation, retail price index, bank of England rate ???

Discussion in 'Current Affairs' started by YouAreHavingALaugh, Feb 17, 2009.

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  1. So we are reading headlines of how they are all coming down and will come down further, examples the reasons are lower fuel costs per barrel,
    lowere VAT and the BoE base rate at 1%.

    Well I am sorry why is it then that fuel at the pumps has actually crept up the last few weeks,

    The cost of a weekly shop has not changed that much and food prices are not coming down,

    The base rate does not affect that great a % of people.

    Gas and electricity costs to the consumer are far higher even after recent cuts in respect to the actual cost of fuel, even compared to the last 18 months when fuel costs per barrel were high

    so your day to day living costs are not changing that greatly and are actually still increasing in some areas

    Or cynically is it a reason as all the pay review boards get ready to annouce pay deals very soon.
     
  2. I don't know about the others.But oil is traded in dollars, the pound has lost about one third of it's value against the dollar in the past 12 months. So that maybe the reason why we have not seen much change in the price we pay for oil :cry: .
     
  3. janner

    janner War Hero Book Reviewer

    There doesn't seem to be any cheaper loans around, I took out a car loan about a year ago, with the BoE rate dropping so much since I thought I'd be able to take out another loan at a better rate, use that to pay off the original loan and so be better off, haven't found a better rate to date.I don't believe that the average man in the street is benefitting from the BoE rate drop, some, but not all, mortgage rates have dropped, but the main beneficary (sp) is the banks who are continually dropping interest rates to savers but taking very little action on the loan rates
     
  4. The reason I believe fuel has gone up because the actual suppliers are trying to get a £1 a litre again as it means far more profit for them. I understand in away they want to make more profit but when the price per barrel is so cheap it should be still coming down it does annoy me a little when I use the works van alot travelling to see clients.
     

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