Inflation falls — Scope | Disability forum
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Inflation falls

woodbine
woodbine Community member Posts: 11,305 Disability Gamechanger
The headline rate of inflation falls to 8.7%, but food price inflation remains at almost 20%.
2024 The year of the general election...the time for change is coming 💡

Comments

  • Alex_Scope
    Alex_Scope Posts: 7,562 Scope online community team
    I do feel like food shopping has gone up in cost lately, so perhaps this is why, thanks for sharing @woodbine
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  • woodbine
    woodbine Community member Posts: 11,305 Disability Gamechanger
    The good news is that overall inflation is now 1.4% lower than the benefits/pension increases that we are now getting.
    2024 The year of the general election...the time for change is coming 💡

  • woodbine
    woodbine Community member Posts: 11,305 Disability Gamechanger
    Interestingly what is known as "core inflation" has surged to a 30 year high in April 2023, which would suggest another increase in interest rates which might end up at 5% this Summer.
    2024 The year of the general election...the time for change is coming 💡

  • 2oldcodgers
    2oldcodgers Posts: 743 Connected
    woodbine said:
    The good news is that overall inflation is now 1.4% lower than the benefits/pension increases that we are now getting.
    I've already seen a reduction of the pension increase since April - I now pay tax on some of it as my tax free allowance is less than the increased State Pension!
  • rustledjimm
    rustledjimm Community member Posts: 91 Pioneering
    edited June 2023
    I will say that inflation % is based on year to year. So even if it's lower for this month we've had months and months of inflation higher than the benefits increases. So really, we're still getting less than we were.
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