Many households have  1  “Manufactured goods” here refers to clothing, footwear, furniture & floor coverings, motor vehicles, audio, visual and computing and similar items. 2  BIS central bankers’ speeches  preferred to use the growth in their incomes to increase their savings rather than to buy more manufactured goods at lower prices.
As the Bank has discussed on a number of occasions recently, whether or not this continues will have a significant bearing on how the economy evolves over the next year or so. Graph 3  The current large change in relative prices is also making it more difficult for households to assess the rate of overall inflation.