Charlotte Hawkins was forced to stop Good Morning Britain this morning to announce breaking news. She revealed on Wednesday’s (16 October) show that the inflation rate has slowed to a rise of 1.7 percent in September, below the Bank of England's target of 2 percent for the first time in nearly three years.
She then turned to her colleague Jonathan Swain, who spoke about this "good news" while reporting live from South London. He said: "It doesn't mean things are getting cheaper.
It means prices are not rising as fast as they once were. I'll take you back to October 2022 when inflation was at 11 percent, and that rate has now dropped to 1.7 percent.” Jonathan continued "Normally, when inflation rates come down, you expect mortgage rates to come down as well.
However, that is not necessarily the case." September's figure is normally used to set how much a lot of benefits rise, for example Universal Credit, next April.The other benefits include disability, personal independence payment, attendance allowance and carer’s allowance.The announcement comes after households were hit by a jump in food and non-alcoholic drink inflation, with stronger price increases for milk, cheese, eggs and fruit.
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