Inflation has hit it's highest level in 10 years and it seems that Gordon Brown has had a direct hand in pushing it up with his fuel-duty rise in December.
Add that to the rise in interest rates last week (Standing now at 5.25%) and it starts to look a bit gloomy on the old economic horizon for many of us.
Of course, the macro-economic figures will not be a problem and the Government will continue to blow their own trumpet using those stats, but when it comes to a personal level the future doesn't look so golden for most people.
The best way to illustrate that is with the ONS's personal inflation calculator. Even by using the Governments own spending patterns based on households included in their annual survey of family spending, the BBC has found that all but one have a personal inflation rate over and above the official figure of 3.9% RPI (That rate is now at 4.4%).
The future may still look rosy for those whose wealth is going crazy, but in unbalanced Britain, the majority at the other end of the wealth gap are finding it wise, even imperative, to cut back on all unneccessary expense. How that will play in an economy founded on debt and consumerism remains to be seen.
Add that to the rise in interest rates last week (Standing now at 5.25%) and it starts to look a bit gloomy on the old economic horizon for many of us.
Of course, the macro-economic figures will not be a problem and the Government will continue to blow their own trumpet using those stats, but when it comes to a personal level the future doesn't look so golden for most people.
The best way to illustrate that is with the ONS's personal inflation calculator. Even by using the Governments own spending patterns based on households included in their annual survey of family spending, the BBC has found that all but one have a personal inflation rate over and above the official figure of 3.9% RPI (That rate is now at 4.4%).
The future may still look rosy for those whose wealth is going crazy, but in unbalanced Britain, the majority at the other end of the wealth gap are finding it wise, even imperative, to cut back on all unneccessary expense. How that will play in an economy founded on debt and consumerism remains to be seen.
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