Inflation hits a four year high of 2.9%

Good news and inflation haven’t shared an article for quite some time. Today is unfortunately no different. A bulletin, released by the Office for National Statistics (ONS), reveals that the rate of inflation as measured by the Consumer Price Index (CPI) has risen to 2.9%, the highest level in nearly four years. Relatively high inflation has been a recurring point of discussion since the start of the year, when it grew to 2.3% and showed no signs of slowing down. With a peak of 4.1% now predicted by the end of the ...

The changing face of retirement

The changing face of retirementNew data has confirmed just how different our retirement and working habits are becoming later in life. Figures from the Office for National Statistics (ONS) show that between 2008 and 2012 just over 350,000 people became newly self-employed, with baby boomers leading the way and accounting for over 80% of the rise. The ONS figures confirm a huge divide between the generations, with 37% of workers aged over 65 registered as being self-employed, compared to just 5% of 16 to 24 year olds. ...

Rate of inflation rises unexpectedly

Both measures of inflation rose unexpectedly in July causing concern for savers, people on fixed incomes and rail passengers. The Consumer Prices Index (CPI) rose from 2.4% in June to 2.6% in July. The Retail Prices Index (RPI), which includes housing costs, rose by a larger amount, from 2.8% to 3.2%. The increases in both rates of inflation were partly down to higher air fares, which rose by 21.7% compared to last month. A lower than usual drop in clothing prices, due to many summer sales being moved forward, also contributed as did rise in housing costs. The figures from the Office for ...

Sharp fall in the rate of inflation

Figures released today by the Office for National Statistics have shown a sharp fall in the rate of inflation. The Consumer Prices Index (CPI) fell by 0.5% in April to 3%, whilst there was a smaller fall in the Retail Prices Index (RPI) which dropped by 0.1% to 3.5%.   The falls take inflation to its lowest level for two years and is being seen by some financial experts as part of a downward trend since September 2011 when CPI stood at 5.2% and RPI was 5.8%....