Consumer inflation reaches 5.2%

  peter99co 09:49 14 Oct 2008
Locked

The UK's benchmark inflation rate hit 5.2% in September, official figures have shown, with energy bills behind much of the rise.

click here

  peter99co 10:02 14 Oct 2008

Pensions usually increase by 2.5% or headline RPI, whichever is higher - meaning the government faces paying out billions more in benefits and pensions. If there is any left in the kitty!

  newman35 11:48 14 Oct 2008

But the forecast is that it will drop dramatically in the new year (as fuel prices will not rise by 50% again) and should be back at 2% or less by this time next year.
The recession will keep inflation down, by causing unemployment and decreased spending.

  Jak_1 12:11 14 Oct 2008

Should see a reasonable rise on my forces pension then as that is index linked. That is if the chancellor doesn't muck things up again like he did last time!

  Condom 17:27 14 Oct 2008

Yep I think the Pension % is worked out on the November figures so I hope it doesn't drop too much by next month as it will improve my Pension even if I don't get the increase until next May. After next month it can drop as much as it likes.

  TopCat® 17:28 14 Oct 2008

Here's another view on the inflation situation. click here


What goes up must come down? We'll no doubt get the answer to that in a few years time. TC.

  peter99co 19:21 14 Oct 2008

I think the Pension % is worked out on the October figures.

  peter99co 19:24 14 Oct 2008

September's Retail Prices Index (RPI) figure - used to work out benefits and state pensions for the coming year - rose to 5% from 4.8% a month earlier.

  Condom 19:46 14 Oct 2008

Even better then. Just a pity I have to wait until May for my 5% rise in my Pension. Help pay for my ticket back to the far east for some warmth and no doubt higher electricity bills for my air-con.

  Jak_1 20:10 14 Oct 2008

The actual figure used is the RPI at the end of September. That was stated in the covering letter to me from the Paymaster General after the last increase. So The percentage rise in pensions should be 5.2%.

  bluto1 21:26 14 Oct 2008

Whatever the pension rise will be I'll welcome it, as long as it's not the same as the infamous £0.75p that messrs. Blair and Brown once gave us.

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