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Rail fares set to rise by 6.2%

Commuters in England face 6.2% rise in average train fares after a shock increase in the Retail Prices Index measure of inflation. Cars, air fares, clothing and housing are being blamed for the surprise rise in the Consumer Prices Index of inflation.

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Advice for savers looking to beat the inflation rises

The independent advice website has given the following advice for savers trying to beat the increase in CPI inflation announced today:

  • Basic rate taxpayers need to find a savings account paying at least 3.25% per annum, of which there are about 227 to choose from.
  • Higher rate taxpayers need to find an account paying at least 4.30%. There is only one such account on the market at present.

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