{"id":8538,"date":"2023-09-21T13:21:54","date_gmt":"2023-09-21T13:21:54","guid":{"rendered":"https:\/\/latestnews.top\/simon-lambert-the-bank-of-england-may-have-paused-but-interest-rates-and-inflation-are\/"},"modified":"2023-09-21T13:21:54","modified_gmt":"2023-09-21T13:21:54","slug":"simon-lambert-the-bank-of-england-may-have-paused-but-interest-rates-and-inflation-are","status":"publish","type":"post","link":"https:\/\/latestnews.top\/simon-lambert-the-bank-of-england-may-have-paused-but-interest-rates-and-inflation-are\/","title":{"rendered":"SIMON LAMBERT: The Bank of England may have paused but interest rates and inflation are"},"content":{"rendered":"
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Update: The Bank of England held interest rates today at 5.25 per cent – this column has had figures updated to reflect that.<\/span><\/p>\n Inflation was revealed to have dipped again yesterday to 6.7 per cent \u2013 a figure that just two years ago would have been seen as horrifyingly high but is now seen as something to be pleased about.<\/p>\n Despite the CPI reading still being a chunky number, it\u2019s an important step on the road back to the \u2018old normal\u2019 \u2013 where both interest rates and wage rises are higher than inflation.<\/p>\n This is Money readers will not need reminding that falling inflation doesn\u2019t mean life is getting cheaper, just that it\u2019s getting more expensive at a slightly slower rate.<\/p>\n They will also be acutely aware a combination of CPI inflation at 9.9 per cent in August last year and 6.7 per cent this year, means the pound in their pocket has lost almost 17 per cent of its value in just two years.<\/p>\n