UK inflation rate drops to 2.8 per cent
- By editor
- May 20
- 1 min read
Commenting on the news that inflation has fallen to 2.8 per cent, Alex Beavis, interim director of retail banking at LHV bank says:
"A fall in inflation is welcome news, and the first sign in months that the pressure on household budgets may be starting to ease. But people should remain cautious about the outlook for inflation. Prices are still rising, just more slowly.
"Now is the moment to act. Take an hour this weekend to give your money a real spring clean. What feels like a chore could mean extra cash to help cover some outgoings.
“With inflation easing, the gap between a good savings rate and a bad one matters more than ever. Review all of your savings pots and bank accounts to make sure your interest rate is keeping pace, otherwise you're effectively losing money.
"Falling inflation is an opportunity to take action. Small steps taken today can pay dividends in the long run, but only if households stand up for themselves and move their money away from providers who are banking on their loyalty."
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