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Inflation is coming – here's how to fight back and protect your money


Inflation is coming – here s how to fight back and protect your money
Economists are forecasting inflation to reach 5pc in 2022
Energy costs were the biggest contributor to rising prices
We are about to enter a period of higher inflation as pent-up demand is unleashed after 15 months of restrictions, economists have warned.
What has been obvious on investment trading screens since the start of the year, as commodity prices rose and bond prices fell, will soon start to affect consumers when they go to the shops, pay their energy bills and plan their retirement, experts fear.
Inflation figures released this week showed the annual rate of price increases more than doubled between March and April as the Consumer Price Index rose from 0.7pc to 1.5pc. A jump in energy costs was the main contributor thanks to a rise in the price of oil. ....

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Which is the best Isa for you? Take our quiz to find out


Cash Isa
Cash Isas are the simplest form of Isa and are available from most banks and building societies to those over 16.
Interest paid on cash Isas has dropped to record lows, but they remain a popular option as they allow savers to earn interest on up to £20,000 each year tax-free.
Since 2016 these deals have become less appealing as a tax-saving measure. The introduction of the “personal savings allowance” now means basic rate taxpayers can earn up to £1,000 in interest before paying income tax. 
Higher ratepayers can earn £500 while additional ratepayers are taxed on all their interest.
This means cash Isas are only useful to additional rate taxpayers and savers who have already maxed out their £1,000 personal savings allowance, which at current rates would require saving hundreds of thousands of pounds.  ....

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