This week's inflation numbers were pretty depressing. The government's favourite measure of inflation ââ¬â the Consumer Price Index (CPI) ââ¬â rose to 4.5% in August, up from 4.4% in July. In other words, prices rose on average by 4.5% over the year to August.
Higher inflation is bad news for most of us but it's especially cruel to people who rely on their savings to pay their bills. The top-paying easy access savings account pays only 3.18% at the moment ââ¬â well behind inflation - so it's very hard for savers to protect their capital against the ravages of inflation.
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Higher inflation is bad news for most of us but it's especially cruel to people who rely on their savings to pay their bills. The top-paying easy access savings account pays only 3.18% at the moment ââ¬â well behind inflation - so it's very hard for savers to protect their capital against the ravages of inflation.
Full Article
