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UK inflation hits 5.2% for September

The release of inflation data for September will no doubt cause some concern in the City as all eyes look towards the recovery plan instigated by the UK government, we need to remember that this rate is actually historic and of little real use in the ever changing environment of today. Thankfully the last few days have seen the price of oil come crashing down, something which pushed the rate of inflation higher and should now lead it lower.

However, there will be a time lag between the drop in the price of oil and other leading commodities and a fall in the rate of inflation. While it looks as though this will be the peak of the current inflation rate cycle it has reached a level not seen since 1997, something which fully reflects the serious nature of the economic turmoil of today.

To an intense and purposes today's figure is fairly irrelevant in the overall picture as we are now looking to see how the various rescue packages around the world will impact upon economics, financial markets and the cost of living. Even though we are not out of the woods yet there is hope that the worst may in fact be over.

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