Inflation: Misery for savers as no fixed rate bonds beat inflation

iStock_000001293543_ExtraSmallThe news yesterday that the rate of inflation rose in May heaped more misery on struggling savers, most of whom will now find it impossible to get a real return on their savings. Figures from the Office for National Statistics (ONS), show the Consumer Prices Index (CPI) rose to 2.7% in May, up from 2.4% in April. The rise was in line with predictions from experts, with the Bank of England also suggesting that inflation could hit 3% before the end ...

Rate of inflation creeps up, whilst RPI is downgraded

Rate of inflation creeps up, whilst RPI is downgradedThe latest figures from the Office for National Statistics (ONS) show that inflation crept up in February, pushed higher by rising energy prices. The Consumer Prices Index (CPI) rose to 2.8% in February having been stuck at 2.7% for the past four months. At the same time the Retail Prices Index (RPI), which is no longer being classed as a ‘national statistic’, actually fell slightly from 3.3% in January to 3.2% in February. According to ...

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. ...

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 ...