The latest updates in consumer and personal finance are highlighted in The Mirror’s new Money blog. Savings rates have dropped to 3.35% in January, the lowest since May 2023, according to Moneyfacts data. Tesco customers can now triple the value of their Clubcard vouchers at selected restaurants like ASK Italian and Zizzi.
Which? rated energy suppliers, with Scottish Power at the bottom and E at the top with a 79% score. The imposition of tariffs on US imports by the President has global implications, affecting UK companies exporting to the US.
Savers are facing challenges as savings rates continue to decline, influenced by the Bank of England’s base rate cuts. Caitlyn Eastell from Moneyfacts anticipates a shift in the savings market this year. Analysis reveals a significant number of households heavily reliant on state pensions for income.
Regen Central Ltd, a travel agency, has gone into administration, canceling all bookings. Caldwell Construction Limited, a construction company, has also collapsed, risking over 400 jobs. The housing market has seen a surge in prices, with the average home price increasing by £9,900 to £368,031 since December.