Inflation is at a 19-year high meaning virtually every savings account would fail to keep pace with the cost of living were prices to continue rising at this rate.
A sharp rise in the cost of living isn't generally good news, and April's Retail Prices Index (RPI) inflation measure, announced yesterday, shows a 19-year high of 5.3%.
Not one standard easy access savings account currently beats the rate of inflation. This means all savers with cash in one are losing money in real terms as their purchasing power is diminished.
2 March 2010
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