Petrol prices push up inflation

  peter99co 12:44 15 Dec 2009

click here

The retail prices index (RPI), which includes housing costs, rose to 0.3% from a rate of -0.8% in October.

Seeing as the interest rate on savings is around 0.5% We had better take some positive action to protect them.

The consumer prices index (CPI) rose faster than expected to an annual rate of 1.9%,

The Bank of England has a CPI target of 2%. and expects the index to rise above that in the new year after VAT reverts to 17.5%.

Money in the bank is losing it's value if this continues.

Should we spend spend spend?

  Grey Goo 13:21 15 Dec 2009

If you are only getting 0.5% on your savings, may I politely suggest you look elsewhere.

  bri-an 13:44 15 Dec 2009

Yes, if I was accepting 0.5% on my savings then yes, "Spend,spend, spend" - but I'm not, so I won't!

  Monoux 16:10 15 Dec 2009

I see Asda have said in the last couple of days that they are bringing their unleaded petrol down to 103.09- reason given is that oil prices have dropped. I notice none of the others had the honesty to do this but prefered to rip off the motorist again.

  Kevscar1 16:13 15 Dec 2009

What are savings

  oresome 17:21 15 Dec 2009

"Should we spend spend spend?"

I think the answer is yes, yes, yes, but using someone elses money.

You'll then benefit from rock bottom interest rates on the loan and spent wisely acquire assets that keep their value, unlike money that will depreciate as a result of quantitive easing in years to come.

  mrwoowoo 17:56 15 Dec 2009

"Should we spend spend spend?"

"I think the answer is yes, yes, yes, but using someone elses money."
May i enquire? Are you in fact Gordon Brown? (O:!

  spuds 18:52 15 Dec 2009

Our local Asda filling stations was selling at 103.9 today. Other 'competitors' in the area were selling for approx 4p dearer. Guess who got my £39.60 plus 40p for a newspaper today ;o)

  oresome 18:58 15 Dec 2009

"May i enquire? Are you in fact Gordon Brown?"

No, but I do recognise when the tide's against me and it's time to turn.

  oldbeefer2 10:41 16 Dec 2009

Just had three weeks in Oz - unleaded there is around 65p a litre!

  Monoux 10:52 16 Dec 2009

oldbeefer2-- From what I recall of Aussie prices when I was there in 2006 they paid the same in Aussie Dollars as we paid in pounds.At that time we were getting 2.43 dollars to the pound so the cost of things there was approx 40% of UK prices. The wages were then about 80-85% of UK rates.

I now understand from a friend that lives near Perth that wages have incresed to above the UK level and if course we only get approx 2 dollars to the pound

Whichever way you look at it in general they seem to have a higher standard of living than us and their cost of living is much less.

Could the fact that Aussies don't tolerate being ripped off at every turn have something to do with this

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