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Returns from savings accounts swallowed by inflation - SAVERS are LOSERS
sadabbott
Posts: 85 Forumite
http://www.fairinvestment.co.uk/deals/news/banking-news-Returns-from-savings-accounts-swallowed-by-inflation-but-security-remains-key--2355.html
Inflation is now at 5.2 per cent – more than double the Government's self-imposed target of two per cent – which surpasses the average return from savings accounts.
Savers will find it almost impossible to find a savings account which earns interest once inflation and tax have been taken into account, says Michelle Slade, analyst at Moneyfacts.co.uk.
Inflation is now at 5.2 per cent – more than double the Government's self-imposed target of two per cent – which surpasses the average return from savings accounts.
Savers will find it almost impossible to find a savings account which earns interest once inflation and tax have been taken into account, says Michelle Slade, analyst at Moneyfacts.co.uk.
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Comments
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I did a calculation of own inflation rate on the BBC's website yesterday. Apparently my personal inflation rate is about 0.9%, which makes it quite easy for me to get a positive real return.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
lol. We started saving in ns&i certs 4 years ago and we are laughing now. Absolutely perfect for our old age0
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