Tuesday, July 12, 2011

Widespread concern about the effects of inflation

Wide spread worry over impact of inflation

Category: Money
Date: 11/07/2011

Advance widespread concern about the impact showed the tomorrow's latest figures on inflation, new figures, which it finances on the people's Party is.

The current rate of consumer price inflation (CPI) is 4.5%, more than twice the Government long-term target of 2%.

The Bank of England has said that inflation is unlikely, that fall significantly in the course of 2011 and could rise to 5%.

And research of post office savings has found that more than nine in ten (93%) People in the United Kingdom are concerned about the effects is to have it on their money.

The combination of relatively high inflation and rock bottom interest rates has hit savers in the Pocket in the last couple of years.

Last week, the action group wrote save our savers of the Bank of England, beseech, increased prices, claims that savings pots by tens of billions of pounds have been eroded.

It said that it took the decision to "The pain will suffer a saver and fixed income" mark.

In a letter to all nine of the Committee rate setting the group said: "Inflation was reduced the real value of the nation of cash savings of more than 50 billion pounds in the last 12 months."

Figures show that one-third of people save regularly with an other third store, where they can, but this has Post Office Director of the savings urged them to ensure that they are placed their funds in a competitive account.

"With inflation currently higher than the interest of many savings accounts offered people can find them effectively lose money on their savings by finding not from an account that offers a real rate of return", said Richard Norman.

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Source: moneyfacts.co.uk

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