Wednesday 20th of May 2009
The retail prices index (RPI) rate of inflation continued to fall last month, it has been confirmed.
According to the Office for National Statistics, the rate dropped 1.2 per cent in April, having declined by 0.4 per cent the previous month.
Lower mortgage payments were cited as one of the main reasons for this, with the Bank of England having lowered the base rate to 0.5 per cent in March.
However, those who are continuing to find difficulty with keeping on debts despite the decreases may wish to seek advice on the solutions available to them, which could include debt management plans.
Commenting on the report, moneysupermarket.com suggested that not all consumers will be benefiting from the falling cost of living.
Kevin Mountford, head of banking at the price comparison site, noted that pensioners in particular are suffering, as many do not have mortgages and the cost of the goods they buy is generally going up.
