Moneynet in The Press
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cash
Published: 21/11/2009 |
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The Guardian (Money) Savings rates went on a rollercoaster ride during the noughties, and we seem to be experiencing one mighty down cycle at the moment. It was announced this week that the key Consumer Prices Index (CPI) measure of inflation rose to 1.5 last month, with analysts predicting it could hit 3% in the coming months. The new figure means a basic-rate taxpayer needs to secure a rate of at least 1.875% gross to maintain the spending power of their savings pot, while a higher-rate taxpayer will need a gross rate of at least 2.5%, says Andrew Hagger at Moneynet.co.uk.
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