Have we turned the corner on high inflation or could it bounce back?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 18 August 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The inflation spike took central banks, governments and many ordinary people by surprise but Britain’s cost of living problem has proved more stubborn that most.

The latest set of official figures on consumer prices index inflation seem to show that the UK may be making some headway on getting it down.

Aided by a substantial drop in the energy price cap, annual CPI inflation fell to 6.8 per cent in July – down from 7.9 per cent in June.

Does that mean we have turned a corner on inflation and can look forward to Rishi Sunak delivering on his promise of halving it this year?

Or were there once again some hidden nasties in the inflation report that could mean it takes longer to subside?

On this week’s podcast, Georgie Frost, Helen Crane and Simon Lambert dig into the inflation data and look at why economists decide that real wage growth was something to worry about.

The team look at what this could mean for interest rates and where they will peak – and what that in turn means for mortgaged homeowners and savers.

Also this week, the triple lock is set to deliver another big state pension boost, is that fair?

Plus, why did Nationwide freeze a reader’s bank account for their charitable work.

And finally, would you try to fix your own furniture? Here’s how some mayonnaise and an iron could help revive your dining table and more.

Transcript

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0:00.0	Welcome to This Is Money Podcast. I'm Georgie Frost and joining me and Simon Labbert today is Helen Crane. And coming up, inflation falls, wages are up, mortgage rates continue to move south,
0:23.0	albeit slowly, fixed savings accounts are peaking at 6% and we aren't in recession. Can we see
0:29.3	the oasis in the distance, or is it all a mirage? Also today, Rishi vows to keep the triple lock
0:36.6	for now, but can we afford it?
0:39.1	Forget political views, banks are now closing accounts for being too charitable, says one reader,
0:44.8	and need to fix your own furniture.
0:47.7	Pass the toothpaste.
0:49.3	Don't forget, you can stay up to date with all the latest breaking money news.
0:51.8	Just go to this ismoney.co.com. UK or download the app.
0:55.9	Don't forget, you can stay on top of what's going on in the markets by tuning in to the
0:59.5	Digest and Invest podcast by Itara.
1:01.6	Go to your regular podcast platform and listen on the go.
1:04.2	Digest and Invest by Itara, the podcast for those interested in trading and investing.
1:08.3	But first, crack open the shampas everybody.
1:12.8	Inflation is falling.
1:14.6	The 2% light is at the end of the cost of living crisis tunnel,
1:19.3	which means the Bank of England is obviously going to stop with the pesky rate hikes.
1:22.9	Mortgage is going to fall and we can all go home.
1:25.2	Thank you.
1:26.5	Right?
1:32.2	Simon, welcome. Inflation. What's the latest?
1:38.1	Why is it falling? What's down? What's up? Can we all go home? Well, inflation figures,
	...

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