Inflation remains above target say National Homebuyers
Concerns remain that many people in Britain will fall into financial difficulties in 2008.
[UKPRwire, Tue Jan 22 2008] The Bank of England has published the consumer price inflation (CPI) figure for December, revealing that it stabilised in the month.
However, it remains above the government's two per cent target, standing at 2.1 per cent.
The rising cost of food is being cited as one of the main inflationary pressures and increasing costs are likely to lead to financial difficulties for many.
Commenting on the figures, Howard Archer, an economist at Global Insight, pointed out that the Bank of England's Monetary Policy Committee still has its work cut out to keep inflation down.
"The Bank of England is far from out of the inflation woods yet, especially as rising utility bills, elevated food prices and a weaker pound will exert significant upward pressure over the coming months," said Mr Archer.
"The pace and extent of further interest rate cuts by the Bank of England will therefore depend critically on underlying inflationary pressures being contained by ongoing wage moderation and by companies' pricing power being diluted by slowing growth," he added.
Fast property sale expert Julian King adds, "15,000 more homeowners will be staring repossession in the face in 2008.
"Those with impending financial difficulties should consider a Mortgage Rescue Scheme such as Sell and Rent Back.
"With Sell and Rent Back the homeowner is able to sell their property quickly, often avoiding bailiffs or repossession, but remain living in their home".
Mr King is a director of National Homebuyers, the UK's leading Sell and Rent Back provider. The company also arranges for immediate purchases of properties for vendors who need a quick house sale for whatever reason.