I wonder what the real rate of inflation is now, if they used the old system such as back in 80's the present RPI leaves so much out, with the mortgage rate now up to 7+%, the governments figures of around 2-3% are just such a con-trick, some people are saying that the real rate pre RPI is around 4% and if they used the old system I bet it would be nearer 7%
Do I sense a lack of confidence in the statements made by our august leaders??? You really should trust them even when the squadrons of porkers (or should that be porkies??) come flying through after all they are honorable men (but so was that chap in the Ides of March ..). :-)
More seriously, with energy prices driving costs up and BoE base rate being rather meaningless as lenders are setting the rates they believe are necessary to reduce mortgage demand, it is difficult to see how a rate of even 5% for inflation is particularly high.