Just Mortgages comments on CPI inflation

21 October 2026

John Phillips, CEO of Just Mortgages and Spicerhaart, said:

“Fuel forecourt price boards have provided consumers with a very visible reminder of inflationary pressures in recent weeks. The rise in CPI inflation to 3.5% reflects these renewed cost pressures, particularly around fuel and energy, against a continued backdrop of geopolitical uncertainty. The wider economic picture though remains mixed with the latest GDP figures showing the UK economy continuing to grow, suggesting that there is still some resilience despite the pressures facing households and businesses.

“Mixed is still probably the best way to describe the mortgage market as we continue to see lenders moving rates in both directions as they balance prudent pricing against the need to remain competitive. All eyes are now on next week’s Budget, with both borrowers and lenders looking for greater clarity on the Government’s plans. While this naturally causes some to pause as they await any positive announcements, there are still movers and buyers active in the market. As ever, expert advice remains critical in helping clients navigate an ever-changing market.”