Stay informed on the latest updates in consumer and personal finance with The Mirror’s Money blog, highlighting significant changes impacting you today.
Savers face disappointing news as recent data from Moneyfacts indicates a drop in the average savings rate, declining from 3.40% to 3.35% in January, the lowest recorded rate since May 2023.
On a brighter note, Tesco has introduced an exciting Clubcard enhancement, enabling customers to triple the value of their Clubcard vouchers at select eateries such as ASK Italian, Bella Italia, Frankie & Benny’s, Prezzo Italian, Zizzi, Las Iguanas, and PizzaExpress.
Which? has released its rankings of the best and worst energy suppliers in Britain, with Scottish Power landing at the bottom due to poor complaint handling, whereas lesser-known supplier E scored well, obtaining an overall rating of 79%.
Following the announcement of new tariffs on US imports by the President, UK companies exporting to the US are facing increased challenges, putting pressure on their operations and potentially leading to job cuts.
For more detailed information on these stories, click to access the full articles.
Recent industry data from Moneyfacts reveals a decline in average savings rates, dropping from 3.40% to 3.35% in January, marking the lowest figure since May 2023.
This downward trend follows a base rate reduction by the Bank of England, benefiting borrowers but putting pressure on savers.
Caitlyn Eastell, a personal finance analyst at Moneyfacts, anticipates further declines in savings rates this year, as rates adjust from the volatility of the past few years.
An analysis of data by retirement specialist Just Group shows a significant number of households heavily reliant on the state pension for their retirement income.
Regen Central Ltd, a travel agency offering holiday packages, has gone into liquidation, leading to the cancellation of all bookings. The company operated under various names, including One Haji & Umrah, Regen Travels, and Oneworld Travels.
The housing market has seen a strong start to the year, with record-breaking price surges reported by property website Rightmove.
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