Financial Pressures Continue to Mount

Just when you thought things couldn’t get any tighter in the household budget, they do. There was a wonderful article recently that uncovered the hidden rise in household bills. According to the article, during 2004 while inflation rose only 1.1%, council taxes rose by a whopping 11%. The cost of running a home rose by 5% during the same period.

The bad news is that recent increases in the UK consumer price inflation to 2.3% in July this year, the highest level since records began, fuelling worries that the economy does not need to be warmed up by reducing interest rates. The figure was in line with the Bank of England’s monetary policy committee. I guess that’s good news for the prognosticators.