Inflation will diminish savings, says expert

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www.moneynews.co.uk > General finance > Inflation will diminish savings, says expert

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Inflation will diminish savings, says expert

Michelle Slade, spokesperson for moneyfacts.co.uk, said inflation will continue to erode the amount of money people can save and coupled with the declining interest rates, investors have been dealt a "double blow".

The Consumer Price Index showed that inflation fell to three per cent, which is still above the government's two per cent target, according to figures released today (March 24th).

She added: "After suffering some of the lowest rates on record in the last year, savers will be hoping that when the chancellor delivers his Budget speech he will bring them some good news."

However, investors seem to have other ideas apart from Isas in mind, according to research undertaken by Interactive Investor.

It was revealed by the company that 40 per cent of investors were planning to invest in emerging markets and ensure monetary growth with the development of new economies.

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