Savers fearful of inflation

Spending their savings is becoming less popular amongst those fearful of the effects of surging inflation. Inflation worries are preventing people from utilising their savings as they would have done in the past. Concerns about rising inflation mean that many British consumers are less likely to dip into their savings, according to a new survey. The study from BM Savings showed that the average amount saved between February and April fell to £745 - a drop of £14 from the amount set aside by savers over the previous three months.