9 in 10 do not trust UK inflation figures

Published on Saturday 15 March 2008 13:36

NINE out of 10 consumers do not trust the Government's inflation figures, believing the true rate of inflation to be 8.1%, not 2.2% as ministers suggest, according to Fool.co.uk.

Fool.co.uk's latest index reveals that more than half of Britons think the increase in the cost of living is between 7% and 12%, and one in 20 reckons it is above 15%.

Forty-year-olds seem to be feeling the pinch of inflation most, placing their personal inflation rate at 9%.

Parents' sacrifice

HALF of British parents admit giving into their children's demands for DVDs, games consoles and toys, according to Engage Mutual.

Furthermore, 68% of parents would make financial sacrifices to keep their offspring happy.

The research found that parents are willing to forgo luxuries such as holidays and going out in order to treat their children, and 29% claimed they would work longer hours to meet their kids' demands.

IFA expansion

A NEW financial advisory network is to be formed from the merger of Bristol-based independent financial adviser Sumus, which owns Scotland's FSAS adviser firm and the Aim-listed IFA group Lighthouse.

The enlarged group will have a turnover of more than 80m, estimated net assets of 22m, around 8bn in assets under advice and some 900 advisers.

Savings offer

A NEW national savings scheme will be launched across the UK in 2010.

The Saving Gateway will see every pound saved by people on low incomes topped up with an unspecified contribution from the Government.

Up to eight million people on benefits and tax credits could be eligible to open the two-year savings account.

However, some financial advisers are concerned that launching the new account ahead of the Government's Personal Pension accounts could lead to confusion, with the less well off making a savings mistake.