Is 2022 looking bleak for our finances thanks to soaring inflation?

Inflation hit its highest level in a decade this week off the back of soaring energy costs and petrol prices. Why is the cost of living on the rise, when will interest rates go up, and how will all this affect the pound in our pocket? This week, Georgie Frost, Lee Boyce and Mike Sheen take a look at the 4.2 per cent CPI figure and how it is becoming harder to ‘inflation proof’ your finances. It looks like the state pension triple lock could be doomed – that 3.1 per cent rise pencilled in for next year doesn’t look generous considering the rise in the cost of living. There is a special delivery for Royal Mail shareholders while major banks are not only shuttering branches, but are increasingly telling customers to serve themselves. And finally, TSB is the latest bank to offer a prize draw, is it a good alternative to Premium Bonds or simply a gimmick?

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