This is great Mark - I think it's easy for people who have been isolated from the worst of it to feel like when it comes to the cost of living because it's a crisis that's been going on a while, it's over.
That mortgage point is so important, as there's such a big lag between interest rates going up and people feeling the impact of that.
In the meantime, inflation has come down...but prices are still going up, and have gone up 20-30% for some essentials over the last two and a bit years.
So, with inflation down, but the hit of mortgage rates going up only now being felt, it's going to feel odd to people - the pain continues, even as the headline number falls.
This is great Mark - I think it's easy for people who have been isolated from the worst of it to feel like when it comes to the cost of living because it's a crisis that's been going on a while, it's over.
That mortgage point is so important, as there's such a big lag between interest rates going up and people feeling the impact of that.
In the meantime, inflation has come down...but prices are still going up, and have gone up 20-30% for some essentials over the last two and a bit years.
So, with inflation down, but the hit of mortgage rates going up only now being felt, it's going to feel odd to people - the pain continues, even as the headline number falls.