LiveMore comment on today’s inflation drop to 3.2%

17 April 2024

Simon Webb, managing director of capital markets and LiveMore, commented:

“At 3.2%, we are continuing the mainly downward trajectory of inflation rates that we have witnessed since the peak in October 2022.]

“Imagine a bell curve. At 3.2%, March 2024’s inflation rate is around the same levels as Autumn 2021 when the rate of inflation rose from 3.1% in September to 4.2% in October. The difference is that those inflation figures were the beginnings of a sharp increase in inflation rates all the way up to the October 2022 summit of 11.1%.

“Although our current inflation rate remains way off the 2% goal, consumers can take some solace that inflation is largely on the descent this time round, and our economy does appear to be on the mend, slow though that process may be.

“Older borrowers and mortgage prisoners are continuing to feel the squeeze with the continuing high cost of living. People coming off an interest-only mortgage this side of summer will need to make sure they seek sound advice.”