Latest inflation figures 'worrying'
www.moneynews.co.uk > Banking > Latest inflation figures 'worrying'
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Money News |
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Latest inflation figures 'worrying'
Tue 19th Jan 2010
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David Kuo, director of fool.co.uk, said that the latest data is unlikely to be the last time that there are reports of rising prices that will leave a dent in the pockets of many consumers.
The return of the 17.5 per cent tax rate after the "pointless" 2.5 per cent cut last year is likely to exacerbate the problem further as prices will increase, Mr Kuo said.
He added that the jump in inflation should serve as a wake-up call to everyone, which should be ignored at our peril.
The best way to beat the effects of inflation is to not leave savings resting together in one place.
"Investing our nest eggs in a properly diversified basket of shares should ease the pain," he concluded.
Mr Kuo recently advised that the FTSE index was not a good way of gauging the extent to which Britain was recovering from the economic downturn, as it is too dependent on how foreign markets are faring.
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