Inflation

The rate of inflation facing the over-75s fell from 3.4% to 3.1% in June but it remains higher than the inflation rates facing other age groups, according to data from Alliance Trust, the financial services group.

House prices have been growing at an average rate of £50 per day during the past 12 months, according to the latest figures from Nationwide.

The high price of necessities such as power and food, has caused inflation for the over 75s to rise to 36% above the headline rate of 2.5%.

The Bank of England's decision to hold interest rates has not dampened anticipation among investors there will be another hike before the end of 2007, according to Barclays Stockbrokers.

Today's quarter per cent rise in interest rates won't be enough to stave off inflationary pressures and should have been bumped up by 0.5%, according to F&C's Ted Scott

The Bank of England has raised interest rates by a quarter of a percentage point to 5.5% because of concerns about inflation.

The expected interest rate rise tomorrow will hit borrowers and could create economic weakness, experts say.

Fears yet more rate rises could prompt a property market collapse are well wide of the mark, according to Moneynet.

House price growth is beginning to cool despite the annual rate of inflation breaking the 10% barrier, says Nationwide.

Increased stamp duty has made house prices more volatile and reduced property transactions by as much as 500,000, according to research.