UK inflation live updates: UK inflation rate jumps to 3.5% in April as higher household bills kick in

23 comments

1. I get the sense that all these economists have no idea what they are doing and are just making stuff up.

2. Great just what everyone wanted.

   If I remember right the Office for National Statistics predicted it would be 2.6% so looks like they need to recalculate because it’s becoming a joke.

   My annual wage increase isn’t even close to what inflation is hitting.

3. Why did the Bank of England lower interest rates recently when they predicted 3.5% this month and their target is 2%?

4. But some will still be claiming Labour are doing a good job for the economy and how they’re so much better than the tories. The sad reality is yes they are better organised but I certainly don’t feel my life has gotten any better.

5. Energy prices are way to high we pay the most for electricity in Europe the Government really need to get a grip of that as long as we are paying big energy bills Inflation will be difficult to get on top off.

6. I think the constant pining for no or low wage growth to curb inflation is basically simping for the rich and corporations

   So the people who respond to high inflation with “but my wages aren’t going up” are perfectly entitled to

7. Got an idea – put an end to most bills going up by inflation + 2.5% every April

8. I don’t know why we aren’t all going crazy about this anymore.

9. Nationalise energy and water. They’re a big driver of inflation and increased living costs. A handful of companies are holding our economy hostage.

10. If you haven’t worked this out yet, there’s no helping you – it’s every man and woman for themselves, and no one is coming to the rescue.

    You will either sink or swim.

    Time to make your mind up.

11. Money creation = more inflation as there is more money in the system, and everything costs more as your money is worth less.

    Money is created via printing it (bank of england) or by loaning (commercial banks). The Bank of England sets the interest rates, which thus sets the cost of borrowing.

    Interest rates are low atm, so the cost of borrowing is low. Hence, everyone keeps borrowing money (mortgages, business loans etc etc) and putting more and more money into the system.

    Governments create money when they sell bonds (the process in how governments borrow money). Currently, the uk government bonds are doing well and everyone is funding government borrowing. Uk government borrows money to cover its cost.

    So to tackle inflation, you have to reduce money in the system. The top methods in doing so are.

    1. Raise interest rates.
    2. Taxation to remove money from the system.
    3. Lower government spending.

    So lads….. what’s it going to be?

12. So what we are saying is inflation isn’t caused by wage increases but greed

13. BoE has egg in their face with the interest rate reduction now imo.

14. So my wage has not met inflation for years, now and this morning I am being told that this has now increased even further.

    Literally just been told no pay rises again this year

15. WE’VE HAD TOO MANY BOOSTS FOR REEVES. 

    TIME FOR SOME BLOWS TO REEVES!

16. The amount of Economic illiteracy in this thread is astounding. Clearly we need this shit taught in schools. Or at least kids being taught not to speak on things they know little about.

17. So about as expected, 0.2% higher due to April bill increases and global events.

    Still on course for lower interests rates again this year.

18. Very odd, given the majority on this forum were shrieking how Reeves and Labour have been doing the right thing and if you disagreed you were a reform bot or a tory bot.

19. The water bill rise has been undercovered imo. A 26% *average* rise across the country is insane. 

    Mine is now over £800 and it’s mostly sewerage. 

    What do they imagine my response is going to be when they ask me to cut back on my water use? (Especially as there’s been a water leak at the end of my road for 5 years that they don’t seem capable of fixing despite having the road up every 6 months).

20. Labour policies increasing inflation well I never /s

21. Meanwhile the company I work for won’t even give cost of living payrises because there’s not enough money to go around (still hiring though)

22. Remember guys uk gdp growth 0.7% in first three months 😮

23. Not doing well on that ole “we’ll sort the cost of living crisis” Rachel from Accounts said ….

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