A Chill Wind for Nest Eggs As Inflation Climbs [Edition 2]

Evening Standard - London › November 17, 2009

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Summary

A RISE in the official inflation level today means only one in five savings accounts offers a real rate of return, leaving thousands of Britons facing depreciating nest eggs.

The Office for National Statistics said UK inflation, measured by the Consumer Price Index, jumped from a five-year low of 1.1% in September to 1.5% in October. It was the first rise in eight months, fuelled mainly by an increase in transport costs.

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Extract

A Chill Wind for Nest Eggs As Inflation Climbs [Edition 2]

Basic-rate taxpayers now need to secure a savings rate of at least 1.87% to beat infla...

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