Our new sofas have cost us as much as our first house | Mail Online
During the Twenties and early Thirties, inflation was so out of control in the Weimar Republic that Germans burned marks as fuel. And three years ago in Zimbabwe, similar hyperinflation saw dollar notes used as toilet paper.
While inflation in Britain is nowhere near that bad, the drip-drip effect of rising prices – even at the current comparatively modest rate of five per cent a year – takes a devastating toll. Worst hit are those on fixed incomes, or who live on income from savings.
As the world's established economies languish in the aftermath of the banking crisis, the link between inflation and interest rates has been broken. So not only is the cost of living rising, but savings rates are at record lows.
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