Boost for savers as CPI inflation falls to 2.1% - but the RPI controversy rumbles on
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 18 January 2019
⏱️ 50 minutes
🧾️ Download transcript
Summary
Inflation is within a whisker of its long-term target of two per cent – does that mean an interest rate rise off the table in 2019?
Assistant editor Lee Boyce and host Georgie Frost talk about the latest inflation figures in the This is Money podcast – including why it has fallen, where it is heading next and what it means for savers.
Savings rates are up, with nearly 100 accounts now matching or beating inflation. Lee explains a nifty trick on how to beat inflation with a one year fixed-rate savings account and boost the rate even further.
We also discuss the House of Lords report which let rip over RPI and CPI, and why it matters to the pound in your pocket.
Meanwhile, we reveal why it is important to not penny pinch on your travel insurance and how the zero per cent beer market is booming – and it's not just because of 'dry January'.
This week, we don't have one, not two, but three coin stories for your enjoyment. How euro coins rattling around in your home could be worth a pretty penny and why 50p coins have had a moment in the sun.
Enjoy.
Transcript
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| 0:00.0 | Welcome to this money podcast in partnership with NS&I. I'm your host, Georgie Frost, and alongside me today is assistant editor, Lee Boyson. Coming up, inflation down, saving rates up, and all predictions are those trends will continue. So why aren't we making the most of the situation? Thinking of escaping the January blues and going on holiday, we look at how penny pinching |
| 0:22.1 | could be costing you dear. |
| 0:24.1 | We look also at our growing taste of a zero or low alcohol booze, and it's not just for dry |
| 0:29.1 | January folks, and it's been a while since we've had a good coin story on the potty, so we |
| 0:34.2 | have not just one, but three for you numismatists out there. |
| 0:40.0 | Took a bit of a run-up for that one. |
| 0:41.5 | Don't forget, you stand up to date with all the latest breaking money news. |
| 0:43.9 | Just go to this ismoney.com or download the app. |
| 0:47.9 | This is Money, brought to you in partnership with Ennis and I. |
| 0:51.1 | For a gift, your little buns will appreciate even when they're not so little. |
| 0:54.3 | Give them premium bonds at NS&I.com. |
| 0:56.8 | But first, the cost of living has fallen to its lowest level in almost two years. |
| 1:01.2 | Petrol prices knocked the CPI rate of inflation down to 2.1%, which has many experts predicting |
| 1:07.8 | that any plans by the Bank of England to raise interest rates could be shelved for now. |
| 1:14.0 | So a relief for borrowers, but we also have some good news for savers too. |
| 1:18.8 | You can now get a one-year savings account that matches inflation. |
| 1:23.3 | So, Lee, welcome, just very briefly. |
| 1:25.3 | What do you make of these latest figures? |
| 1:26.8 | Well, it's an interesting one, Georgie. Obviously, the long-term target is 2%. So 2.1% now is hovering |
| 1:33.1 | just about where they want it to be. Big part of it is the fall in the price of petrol. We've seen that |
| 1:38.6 | in the last couple of months, the four quarts. It's definitely fallen by quite a bit. Air fares as well, there's been something |
| 1:44.2 | that's dragged it down. And actually what they're saying now is that it's probably going |
... |
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