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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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UK: High inflation could eat £43bn of savings in just a year

UK: High inflation could eat £43bn of savings in just a year | Countdown to Financial Armageddon | Scoop.it

Beleaguered savers will see £43billion wiped off their nest eggs by November 2012 thanks to record low interest rates and soaring inflation.

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Inflation to rise despite Bank assurances as economists downgrade growth forecasts

Inflation to rise despite Bank assurances as economists downgrade growth forecasts | Countdown to Financial Armageddon | Scoop.it

The official rate of inflation is predicted to rise even higher this week, defying assurances price rises will fall back, while two heavyweight economist groups downgraded UK growth forecasts. City economists say inflation could hit 5 per cent when figures are published Tuesday 18 Oct, putting further pressure on the incomes of cash-squeezed families, savers and pensioners.

 

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UK inflation rate rises to 5.2%!

UK inflation rate rises to 5.2%! | Countdown to Financial Armageddon | Scoop.it

The rate of Consumer Prices Index inflation rose to 5.2% in September from 4.5% the month before, official figures show.

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