Inflation to fall but Britons to face ‘relentless pressure’ – what should savers do? | Personal Finance | Finance

“If you’re planning to opt for a fixed-rate savings account, it may pay to do it sooner rather than later.

“The good news is that with the best one-year fix at 4.33 percent, the best two-year fix at 4.5 percent, and City forecasters estimating inflation will be around 5.2 percent this year, you can get reasonably close to matching inflation with your cash.”

The chief economist of the Bank of England, however, has warned high rates of inflation might last longer than expected.

Speaking at a conference in New York, Huw Pill said the UK was facing a “distinctive” combination of challenges.

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