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Inflation remains above 3%

Inflation remained above 3 per cent in July, forcing the governor of the Bank of England to write to George Osborne for the third time this year.

According to the Office of National Statistics, the Consumer Price Index dropped to 3.1 per cent, down from 3.2 per cent in June but still more than 1 per cent above the target figure. As a result, governor Mervyn King will have to write to chancellor George Osborne to explain why inflation remains high.

The ONS says the inflation rate can be blamed on increased fuel prices as well as a drop in the price of second-hand cars compared to 2009 prices.

It also revealed the Retail Price Index dropped to 4.8 per cent, down from 5 per cent in June.



Hargreaves call on performance fees is on the money

Maybe it’s me, but sometimes I get the impression that not many people in the industry like Peter Hargreaves, not that he cares one jot, of course. A few years back, I wrote lampooning Peter over his claim that IFAs’ determination to retain indemnity commission as their primary source of income meant they would soon […]

M&G is retail winner with second-quarter sales of £2.25bn

M&G has topped the gross retail sales rankings for the second quarter after racking up new investments of £2.25bn, according to the latest Lipper UK Fundflash. The sales came as M&G’s £4.9bn recovery fund managed by Tom Dobell remained popular, offsetting waning interest from its corporate bond fund, Lipper says. Invesco Perpetual ranks second on […]


Annuity rates continue to slide

The Retirement Partnership managing director Steve Lewis offers a commentary on the latest annuity rates. A link to the latest Retirement Strategy annuity income data pages appears at the right-hand side of this article.

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Time to give savers a break instead of mortgagors and raise interest rates a tad. the problem for industry is availablilty of credit, not the price of it.

  2. They are not going to increase interest rates – they want inflation to erode the debt as far as they can get away with it. also it just puts the cost of the repayments up.

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