no savings accounts that are able to protect hard-earned cash from the impact of inflation. With Consumer Prices Index (CPI) inflation accelerating to 2.5% in June, from 2.1% the previous month, there is not one standard cash savings account that can beat it, according to Moneyfacts.co.uk.
This means that the value of many savers' pots is shrinking in real terms. For anyone with savings and especially those who have managed to save money due to the reduced spending in lockdown, it's a blow and experts have recommended looking for an account with upped interest rates.
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