'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...

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 Economics / Markets

'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read
Why the Bank of England needs to stop over-sharing

Why the Bank of England needs to stop over-sharing

'We are used to the comments of central bankers moving markets'

Laith Khalaf
clock 17 October 2024 • 4 min read