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The Martin Lewis Podcast
Cheapest way to spend abroad | How inflation cut will hit mortgages & savings | Time to fix energy
May 22, 2024
The podcast explores the cheapest ways to spend money abroad, the impact of inflation on mortgages and savings, and the latest energy price cap update. Listeners share stories of successful complaints and the likelihood of a General Election announcement is discussed.
44:42
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Quick takeaways
- Food prices have increased by over 30% in the past three years despite a drop in inflation to 2.3% in April.
- Choosing fixed rate mortgages and savings in the current market can provide stability and potential savings for consumers.
Deep dives
Inflation Figures and Their Impact on Mortgages and Savings Rates
Inflation figures dropped to 2.3% in April, indicating relative good news. However, this drop does not mean prices have fallen, but rather risen by 2.3%. While this is a positive development, food prices remain high, increasing over 30% in the past three years. This stability in inflation levels has led to a pause in the increasing costs. It is suggested that fixing mortgages and savings rates is advisable given the current market conditions.
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