More than third of savers at a loss how to fight inflation

'Gap in consumer awareness' - Zurich

Victoria McKeever
clock • 1 min read

Zurich has warned of a "gap in consumer awareness" after a survey for the group revealed more than a third of savers could not say how they would go about defending their money against rising inflation.

Some 37% admitted they did not know how to do so, with the proportion rising as the age range fell - 43% of those aged 18 to 24 being unsure compared with 29% of those aged 65 and above. The findings followed the news UK inflation reached 2.3% in February and stayed there in March - its highest level since September 2013, according to figures from the Office for National Statistics. Last November, the National Institute of Economic and Social Research thinktank predicted inflation could soar to 4% during the second half of 2017. This represented a significant rise on its previous fore...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read