May 16 2008
The current trend of rising inflation is likely to continue for the foreseeable future, it has been claimed.
According to F&C Investments, energy and food prices are set to keep increasing as the year goes on and for many people this could hinder their efforts in saving for retirement.
Part of the problem stems from the weakening of the British pound against both the euro and the US dollar, which has an inflationary impact within the UK's economy, F&C maintains.
A statement from the company said: "Yesterday Centrica, who is responsible for British Gas, indicated they will put up fuel prices again in the UK, probably by ten to 20 per cent.
"Other fuel companies are likely to follow, putting more pressure on the already stretched household budgets."
Meanwhile, Engage Mutual reported recently that 17 per cent of pensioners in the UK are going without everyday items because of the financial constraints they are now having to deal with.
