After the whole last year, this time in the month of February
, the rate of inflation has gone down to the level that the lowest. This fact was shown by the data which was released by the officials a few days back. Because of this it is being hoped that the pressure that was getting built on the pockets of the consumers it is going to get lightened and they would try to spend more amount of money.
According to the economist after the low of 3.6 percent ion the month of January, they had thought that now the level of this low is going to be much more but in the month of February the rate of inflation went down to 3.4 percent. This thing made it clear to the government as well as the central banks that the rate on which they are thinking that the prices are going to get low; the manner is not going to be that fast.
The amount of sterling had gone up in comparison to the euro but because of the slow declining rate of the inflation, the gilts fell because of the data. And due to this trend only the Bank of England was a little apprehensive of their plans of making purchase of the assets as and when their present on going programmes came to an end in the month of May.
Chancellor George Osborne is making efforts that he can offer sum amount of respite to the people who fall in the bracket of low and middle-income earners on the time when he going to make announcements about the budget. He making such plans in spite of the fact there are talks that huge deficit of the budget of Britain has to be cut. This simply means that as the rate of inflation is going down it is being an important factor that the economy of the country can now go on, on the path of recovery and that too on a pace which is going to smooth. Need cash apply with pounds to pockets and get funds with quick approval.
According to the Office for National Statistics as the prices of housing, electricity, recreation as well as culture is going to get down; it is going to mean that the rate of inflation is also going to come down. In a little contrast to this, as the prices of alcoholic beverages went quite high it gave a contribution to the costs of living going up high.