This is Money Podcast Inflation strikes back: How worried do we need to be?
9 snips
Feb 21, 2025 Tanya Jeffries, an expert on inflation and finance, shares her insights on the recent spike in inflation and its implications for personal finances. The discussion covers supermarket challenges from rising operational costs and changing consumer habits. Tanya suggests strategies for safeguarding wealth, emphasizing the importance of budget management and diverse investment options amid economic uncertainty. Listeners also gain clarity on choosing between pensions and ISAs, while navigating the complexities of state pension forecasts and premium bond rates.
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Inflation Concerns
- January's inflation figures were higher than predicted, causing concern about stagflation.
- Core inflation, services inflation, and food prices all increased, suggesting internal economic pressures.
Protecting Your Money
- Analyze your household budget to identify areas for potential savings.
- Prioritize paying off high-interest debts and consider investing to outpace inflation.
Pension vs. ISA
- Investing in a pension offers tax relief and potential employer contributions, leading to a larger pot.
- ISAs provide tax-free income and greater accessibility, suiting those prioritizing access over growth.