Will the price of food and other things go down aswell then?
Something I am going to have to look into is how this will effect fixed rate saving ISAs, I know that my bank offers a pretty nice one now and if the interest rate is likely to go up in August, does that mean I should wait to see if the banks increase their interest too for saving accounts?
While it all sucks and I aint got much, might as well try to claw back at least some of the loss to inflation with what I can set aside.
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On a side point, I hope it will mean a major drop in food price inflation as even if it drops by half, we are still looking at what, 10-20% across a lot of products? IIRC I remember reading many food types went up by a shocking 30-40% this last year (and working in a store, I can say I have watched some even double in price for my company at least, though not universally true, still painful).
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Will the price of food and other things go down aswell then?
Something I am going to have to look into is how this will effect fixed rate saving ISAs, I know that my bank offers a pretty nice one now and if the interest rate is likely to go up in August, does that mean I should wait to see if the banks increase their interest too for saving accounts?
While it all sucks and I aint got much, might as well try to claw back at least some of the loss to inflation with what I can set aside.
​
On a side point, I hope it will mean a major drop in food price inflation as even if it drops by half, we are still looking at what, 10-20% across a lot of products? IIRC I remember reading many food types went up by a shocking 30-40% this last year (and working in a store, I can say I have watched some even double in price for my company at least, though not universally true, still painful).