'We are ready to help': Advisers prepare clients for inflationary squeeze

‘Tricky journey for many’

Ayesha Venkataraman
clock • 4 min read

Advisers expressed preparedness and long-term optimism to the news that UK inflation has hit another 40-year high of 9.1% in May, up from 9% in April.

The slight increase in inflation rate came largely from rising food and non-alcoholic beverage prices, as well as continued shifts in energy prices, according to the Office for National Statistics (ONS). Average petrol and diesel prices last month were the highest on record, the ONS said, reaching 165.9p per litre for petrol, compared with 127.2p a year earlier. The 12-month rate for motor fuels was 32.8%, the highest since before the start of the data series in January 1989. The Bank of England (BoE) implemented a fifth consecutive rate hike just last week, bringing interest rates to...

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