With the fall in inflation to 10.1% in March from 10.4% in February please see this comment from Simon Webb at LiveMore, the mortgage lender for the 50-90+ age group.

19 April 2023

Simon Webb, managing director of capital markets and finance at LiveMore, commented: “Inflation has been in double digit figures since last September and it is still stubbornly there but a fall, even if only by 0.3%, is better than nothing. Let’s hope this is the start of the downward trajectory towards the 2% target.

“But we are not out of the woods yet. Food inflation is still exceptionally high, as are energy prices although they have come down, but the energy market is very volatile so there is still price uncertainty. On the other hand, the fall in the cost of petrol bodes well for inflation if it continues to drop.

“Looking to what this will do with regards to the Bank of England base rate decision next month, the Bank has said it will be data driven and the next meeting is still a number of weeks away, but it is safe to say the days of higher interest rates will be around for quite a while yet.”