Good news as inflation drops in March
The national inflation rate has dropped – which is good news for businesses and homebuyers.
UK inflation as measured by the Consumer Prices Index (CPI) fell to 1.6% in March from 1.7% in February, according to the Office for National Statistics (www.statistics.gov.uk).
It is the lowest since October 2009 and the third consecutive month to remain below the Bank of England’s 2 % target rate.
The ONS says falling petrol prices played a key part in the drop.
The rate of Retail Prices Index (RPI) inflation also fell to 2.5%
All this means that the Bank of England (www.bankofengland.co.uk) is less likely to increase interest rates from their historic low of 0.5 % – which is good news for homebuyers.
Some experts say that we won’t now see an increase in interest rates rise until summer or autumn next year.
So now is the time to strike if you are looking for a new home.
We provide all types of property services – including surveys and structural engineering work – so don’t hesitate to get in touch.
You can always give our friendly and knowledgeable staff a ring on 023 92697193 for a no obligation chat about our services – or by all means email us at [email protected] or find out more at www.mcandrewmartin.com
The national inflation rate has dropped – which is good news for businesses and homebuyers. UK inflation as measured by…