Inflation means savers ‘may have lost as much as £113bn over past year in real terms’

PA Wire

As much as £113bn could have been wiped off the value of the nation’s savings over the past year in real terms, analysis suggests.

The analysis by investment platform AJ Bell was released after Office for National Statistics (ONS) said the Consumer Prices Index (CPI) eased to 7.9 per cent last month, down from 8.7 per cent in May and its lowest rate since March 2022.