Inflation: Savers struggle as inflation rate remains unchanged

Savers struggle as inflation rate remains unchangedFigures from the Office for National Statistics (ONS), released yesterday, showed that the Consumer Prices Index (CPI) remained unchanged in January at 2.7%. The ONS reported that rises in the price of alcohol and tobacco were offset by decreases in the cost of clothing and footwear. It was the fourth month in a row that CPI has remained unchanged, the longest period without an increase or decrease since 1996; however the Retail Prices Index (RPI) which ...

Government Spending Review unveiled

Chancellor George Osborne has announced the largest spending cuts the UK has seen since World War Two with over £80 billion in cuts, to be phased in over the next four years. The cuts represent an average reduction of 19% in departmental funding. Mr Osborne said: "Today is the day when Britain steps back from the brink, when we confront the bills from a decade of debt. It is a hard road, but it leads to a better future". Leader of the Labour party, Ed Miliband, said the chancellor was taking an "irresponsible gamble" with the economy and "many of the frontline services people rely on".