Savings: 6 tricks from savvy savers to avoid ‘zombie’ savings accounts

Savings: 6 tricks from savvy savers to avoid ‘zombie’ savings accountsNew research has found a frightening number of savings accounts are paying less than 0.5% interest each year. The consumer group, Which?, has found 1,562 of the 1,952 available savings accounts are ‘zombie accounts’, meaning they are closed to new business. The research found the interest rate on many ‘zombie accounts’ is scandalously low: 40% of ‘zombie accounts’ pay less than 0.5% interest each year, well below the current rate of ...

Rate of inflation falls again

New figures show that inflation has fallen to its lowest level since early 2010. Data released by the Office for National Statistics (ONS) shows that the Consumer Prices Index (CPI) fell to 2.8% in May from 3% in April. The Retail Prices Index (RPI), which includes housing costs, also fell, this time from 3.5% in April to 3.1%. Reasons for the fall in rate of inflation At its peak, in September 2011, the rate of inflation rose to 5.2%, however since then it has gradually fallen, albeit with a couple of jumps back up along the way....