LiveMore comment on today’s inflation drop to 2.3%

22 May 2024

Please find below, comment from Simon Webb at LiveMore, the mortgage lender for the 50-90+ age group.

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

“Inflation has fallen again, reaching 2.3% in April, down from 3.2% in March. This continues the welcome trend we've seen since the October 2022 peak.”

“This sustained decline reflects real progress towards the Bank of England's 2% target. While still some way to go, this is a significant improvement on the inflationary pressures of the past year.”

“Core inflation, a key metric for the Monetary Policy Committee, reflects this downward trend as well. This data should provide some breathing room for the MPC regarding interest rate decisions.”

“We remain optimistic about the UK's economic recovery, albeit a gradual one. But we recognise that older borrowers and mortgage prisoners will still be feeling the pressures of the continuing high cost of living. We encourage them to seek well-informed advice to capitalise on opportunities presented by this improving economic climate."