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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
Consumer price inflation hits 5.2 per cent
Figures released today show that inflation as measured by the Consumer Price Index is running at 5.2% in September up from 4.7% in August.
The increase is mainly due to higher energy costs, and it is thought that with prices of energy now falling back, inflation has probably now reached its peak. Once the energy price reduction feed through in the next few months the index should start to go back towards target.
The Retail Price Index (RPI) is currently running at 5% up from 4.9% in August, and it will be this figure that is used to calculate the increase in pensions. So we have one group that will be happy as they should get sharply rising pensions at a time of falling inflation. However it will of course not bring pensions back to previous levels in real terms.
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