Could Britain’s mortgage nightmare be at an end?

Inflation’s down and who could have predicted that? Not the Bank of England, obviously. So will they give home owners a break and follow with a cut in interest rates? Don’t bank on it, writes James Moore

Analysts and the Bank of England had predicted inflation to accelerate last month (PA Wire)

In terms of a bona fide triple huzzah shot in the arm, you’d do well to find something much better than the latest UK inflation news in the world of economics.

We’d been primed for a grey September data release by chancellor Jeremy Hunt and the Bank of England’s governor Andrew Bailey. Inflation, they told us, would likely go up to 7.1 per cent. Just a “blip”, mind, with oil prices (they’re rising) taking the blame. But bear with us. A big fall will follow next time.

Except that the headline number for August rolled in at 6.7 per cent, a small but important fall from the previous month’s 6.8 per cent. The runaway train hasn’t quite hit the buffers but it continues to lose momentum. As for Hunt and Bailey? They will get an A for their expectations management. But the Bank’s forecasters will get another F.