Inflation in the UK is now at 3.3 per cent and predicted to rise significantly higher across the rest of 2026, sending up costs of food and fuel and eating away at our savings if they are earning less than that amount in interest.
The good news for savers though is that the top rates in savings accounts still outpace inflation. If the Bank of England does as it has hinted, and sends interest rates back up, banks could react to that with even better savings deals.
