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  • MoneyWeek

    Inflation shrinks savings

    Jun 04, 2021 2 minutes
    Alex Rankine Markets editor

    It’s getting more difficult to protect the value of cash savings against inflation. UK annual consumer price index (CPI) inflation spiked to 1.5% in April, with the Bank of England forecasting that it will hit 2.5% by the end of this year. Interest rates are not keeping up. The average easy-access savings account pays

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