UK inflation rate leaps to 2.3%

Rising fuel and food prices helped to push last month’s inflation rate to the highest since September 2013.

Inflation as measured by the Office for National Statistics’ Consumer Prices Index (CPI) jumped to 2.3% in February – up from 1.8% in January.

The increase has pushed the rate above the Bank of England’s 2% target.

Food prices recorded their first annual increase for more than two-and-a-half years, standing 0.3% higher in February than a year earlier.

The Bank of England has said it expects inflation will peak at 2.8% next year, although some economists think the rate could rise above 3%.

The above article is curtesy of the BBC.  Their full article can be read by visiting the following the below link;

http://www.bbc.com/news/business-39337909


Make Sure Your Savings Beat Inflation

With inflation set to reach 3% next year it has never been more important to ensure your savings are generating returns.  As banks are offering very little in terms of interest rates you are currently losing 2.2% per annum by leaving you savings with your bank.

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EXAMPLE LOSS

If you have have managed to save 100,000 Swiss Francs and you choose to leave it in cash you are losing 2,200 Swiss Francs per annum.  Over a 5 year period this equates to a 11,000 Swiss Franc loss.


HOW TO MAXIMISE YOUR SAVNGS

At SuisseRock we help and advise our clients on ways to invest their capital in a safe and secure manner in order to generate returns in-line with their attitude to risk.  Whether you have already accumulated your savings or you wish to start saving in a more efficient manner, we have a number of different solutions available.

Simply contact us today by completing the below form and one of our advisors will call you to discuss your options.

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