Inflation: Cost of living pain still to come as a large proportion of mortgages are yet to reset

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Only around a third of the eventual "pain" of higher interest rates has so far been felt, as most mortgage payers have yet to re-fix their loans onto higher rates and food inflation is likely to be considerably higher in the coming years than previously expected.

The governor of the Bank of England has told Sky News' Ed Conway, that he expects inflation to fall "rapidly" in just weeks, but warned two-thirds of the pain from interest rate rises is yet to come.

Read more on this story here: https://news.sky.com/story/bank-of-england-dramatically-changes-its-outlook-but-its-not-exactly-rosy-12878372

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