Inflation slows to 2.9%

The official measure of inflation Uses Prices Index (UPI) has suddenly risen in February but has decreased slowly up to 2.9% in March. As opposed to UPI, the Retail Prices Index which includes housing costs fell to 0.4%. Such decrease of RPI achieves for the first time since 1960.

According to information given by Office for National Statistics (ONS), after the unexpected 0.2% monthly increasing achieved in February the annual inflation rate decreased by 0.3% as compared to the previous month.

A spokesperson for Debt Advisers Direct said: "Both measures of inflation indicate that price growth is slowing down, and the RPI suggests that many homeowners are now paying less overall compared with last year, since mortgage debt has become cheaper to pay off.

A spokesperson for Debt Advisers Direct mentioned that the process price growth not is reaching to statics and many owners of homes are taking advantage of the RPI falling tendency, due to which it has become cheaper to pay off the mortgage debt, and now are paying less overall as compared to last year. Also he pointed out that the fact of the inflation figure being average should be taken into account as well as the fact that financial situation of every person is unique. Also he resumed that today the growing number of people finds out that their financial situation appears to be very difficult and it’s important for every person who suffers from debts to, seek the advice of an expert.


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