Stubborn inflation puts pressure on savers’ resilience

Caitlyn Eastell, Apprentice Press & PR Assistant

Caitlyn Eastell, Press & PR Executive 01603 476169 Email Caitlyn

Stubborn inflation puts pressure on savers’ resilience

Inflation is almost double the Bank of England’s target, and with most accounts falling behind, savers’ money risks losing value, Moneyfactscompare.co.uk analysis can reveal.

Stubborn inflation puts pressure on savers’ resilience

Inflation is almost double the Bank of England’s target, and with most accounts falling behind, savers’ money risks losing value, Moneyfactscompare.co.uk analysis can reveal.

The Consumer Price Index (CPI) remained at 3.8% during September, from 3.8% in August. The Bank of England’s projection rate for inflation during Q3 2026 is 2.7%.
The Moneyfacts Average Savings Rate currently sits at 3.44%, which is lower than inflation, so it is essential that savers shop around to avoid losing money in real terms.
There are currently 978 savings accounts that beat inflation* (75 easy access, 89 notice accounts, 56 variable rate ISAs, 216 fixed rate ISAs and 542 fixed rate bonds).
In October 2024, there were 1,731 deals that could beat CPI which was then at 1.7% (September 2024) and in October 2023, there were no deals that could beat CPI which was at 6.7% (September 2023).

The Consumer Price Index (CPI) remained at 3.8% during September, from 3.8% in August. The Bank of England’s projection rate for inflation during Q3 2026 is 2.7%.
The Moneyfacts Average Savings Rate currently sits at 3.44%, which is lower than inflation, so it is essential that savers shop around to avoid losing money in real terms.
There are currently 978 savings accounts that beat inflation* (75 easy access, 89 notice accounts, 56 variable rate ISAs, 216 fixed rate ISAs and 542 fixed rate bonds).
In October 2024, there were 1,731 deals that could beat CPI which was then at 1.7% (September 2024) and in October 2023, there were no deals that could beat CPI which was at 6.7% (September 2023).

Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Inflation is almost double the Bank of England’s 2% target, but despite continued pressure from the rising cost of living, the UK’s household savings ratio remains above 10%, which reflects continued caution among consumers. Savers’ main priority is to build financial security and with average real returns remaining negative, they may find that the value of their savings is steadily being eroded, making it harder to achieve their financial goals or maintain essential safety nets such as emergency funds. Even the most competitive rates are struggling to outpace inflation, with less than half able to keep ahead of rising prices.

“Although some of the best rates have risen over the past month, it’s a short reprieve, as over the past year the vast majority have fallen, which means savers who re-invested £10,000 could now be almost £100 worse off.

“With the number of inflation-beating deals wavering, any saver who finds their account falling behind inflation, should immediately switch to a more attractive deal, or consider locking into a fixed bond to secure guaranteed returns on their hard-earned cash.”

Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

Savings market analysis
Top savings deals at £10,000 gross	18-Oct-23	16-Oct-24	17-Sep-25	Today
Easy access account	Chorley Building Society – 5.30%	Ulster Bank – 5.20%	Chip – 4.70% (includes bonus)	Sidekick – 4.43% (includes bonus)
Notice account	RCI Bank UK – 5.60% (95-day)	Charter Savings Bank– 5.13% (95-day)	Earl Shilton BS – 4.50% (180-Day, includes bonus)	Earl Shilton BS – 4.50% (180-Day, includes bonus)
One-year fixed rate bond	Union Bank of India (UK) Ltd – 6.11%	Union Bank of India (UK) Ltd – 5.00%	Chetwood Bank – 4.45%	Marcus by Goldman Sachs® – 4.55%
Two-year fixed rate bond	Union Bank of India (UK) Ltd – 6.05%	Market Harborough BS – 4.61%	Birmingham Bank – 4.44%	JN Bank – 4.42%
Three-year fixed rate bond	JN Bank – 5.97%	UBL UK – 4.72% (payable on maturity)	Birmingham Bank – 4.46%	DF Capital – 4.47%
Four-year fixed rate bond	JN Bank – 5.80%	UBL UK – 4.54% (payable on maturity)	UBL UK – 4.54% (payable on maturity)	UBL UK – 4.54% (payable on maturity)
Five-year fixed rate bond	JN Bank – 5.80%	UBL UK – 4.64% (payable on maturity)	UBL UK – 4.64% (payable on maturity)	UBL UK – 4.64% (payable on maturity)
Inflation announcement dates. Top rates exclude deals with restrictive criteria. Notice accounts exclude those over 180 days. Source: Moneyfactscompare.co.uk

ISA market analysis
Top savings deals at £10,000 gross	18-Oct-23	16-Oct-24	17-Sep-25	Today
Easy access ISA	Chorley Building Society - 5.15%	Trading 212 – 4.97%	Plum – 4.32% (includes bonus)	Plum – 4.40% (includes bonus)
Notice ISA	The Stafford BS – 5.25% (60-day)	West Brom BS – 4.85% (60-day)	Aldermore – 4.16% (60 Day)	Tipton & Coseley BS 4.10% - (60 Day)
One-year fixed rate ISA	Virgin Money – 5.85%	Virgin Money – 4.61%	Tembo Money– 4.27%	Vida Savings– 4.28%
Two-year fixed rate ISA	NatWest – 5.65%	State Bank of India – 4.50%	Vida Savings – 4.22%	UBL UK – 4.25% (payable on maturity)
Three-year fixed rate ISA	Zopa – 5.37%	UBL UK – 4.50% (payable on maturity)	UBL UK – 4.37% (payable on maturity)	UBL UK – 4.29% (payable on maturity)
Four-year fixed rate ISA	UBL UK – 5.39% (payable on maturity)	UBL UK – 4.30% (payable on maturity)	UBL UK – 4.25% (payable on maturity)	UBL UK – 4.25% (payable on maturity)
Five-year fixed rate ISA	UBL UK – 5.54% (payable on maturity)	UBL UK – 4.45% (payable on maturity)	UBL UK – 4.59% (payable on maturity)	UBL UK – 4.59% (payable on maturity)
Inflation announcement dates. Top rates exclude deals with restrictive criteria. Notice ISAs exclude those over 180 days. Source: Moneyfactscompare.co.uk

*Data note: Please note that these savings product numbers include deals that are available to UK residents (easy access accounts, notice accounts, fixed rate bonds, variable Cash ISAs and fixed Cash ISAs) and exclude regular savers, children’s savers, variable rate fixed term bonds or ISAs, JISAs and LISAs, based on a £10,000 deposit, gross rates. Higher rates may be available for other levels of deposit.

Savings market analysis
Top savings deals at £10,000 gross	18-Oct-23	16-Oct-24	17-Sep-25	Today
Easy access account	Chorley Building Society – 5.30%	Ulster Bank – 5.20%	Chip – 4.70% (includes bonus)	Sidekick – 4.43% (includes bonus)
Notice account	RCI Bank UK – 5.60% (95-day)	Charter Savings Bank– 5.13% (95-day)	Earl Shilton BS – 4.50% (180-Day, includes bonus)	Earl Shilton BS – 4.50% (180-Day, includes bonus)
One-year fixed rate bond	Union Bank of India (UK) Ltd – 6.11%	Union Bank of India (UK) Ltd – 5.00%	Chetwood Bank – 4.45%	Marcus by Goldman Sachs® – 4.55%
Two-year fixed rate bond	Union Bank of India (UK) Ltd – 6.05%	Market Harborough BS – 4.61%	Birmingham Bank – 4.44%	JN Bank – 4.42%
Three-year fixed rate bond	JN Bank – 5.97%	UBL UK – 4.72% (payable on maturity)	Birmingham Bank – 4.46%	DF Capital – 4.47%
Four-year fixed rate bond	JN Bank – 5.80%	UBL UK – 4.54% (payable on maturity)	UBL UK – 4.54% (payable on maturity)	UBL UK – 4.54% (payable on maturity)
Five-year fixed rate bond	JN Bank – 5.80%	UBL UK – 4.64% (payable on maturity)	UBL UK – 4.64% (payable on maturity)	UBL UK – 4.64% (payable on maturity)
Inflation announcement dates. Top rates exclude deals with restrictive criteria. Notice accounts exclude those over 180 days. Source: Moneyfactscompare.co.uk

ISA market analysis
Top savings deals at £10,000 gross	18-Oct-23	16-Oct-24	17-Sep-25	Today
Easy access ISA	Chorley Building Society - 5.15%	Trading 212 – 4.97%	Plum – 4.32% (includes bonus)	Plum – 4.40% (includes bonus)
Notice ISA	The Stafford BS – 5.25% (60-day)	West Brom BS – 4.85% (60-day)	Aldermore – 4.16% (60 Day)	Tipton & Coseley BS 4.10% - (60 Day)
One-year fixed rate ISA	Virgin Money – 5.85%	Virgin Money – 4.61%	Tembo Money– 4.27%	Vida Savings– 4.28%
Two-year fixed rate ISA	NatWest – 5.65%	State Bank of India – 4.50%	Vida Savings – 4.22%	UBL UK – 4.25% (payable on maturity)
Three-year fixed rate ISA	Zopa – 5.37%	UBL UK – 4.50% (payable on maturity)	UBL UK – 4.37% (payable on maturity)	UBL UK – 4.29% (payable on maturity)
Four-year fixed rate ISA	UBL UK – 5.39% (payable on maturity)	UBL UK – 4.30% (payable on maturity)	UBL UK – 4.25% (payable on maturity)	UBL UK – 4.25% (payable on maturity)
Five-year fixed rate ISA	UBL UK – 5.54% (payable on maturity)	UBL UK – 4.45% (payable on maturity)	UBL UK – 4.59% (payable on maturity)	UBL UK – 4.59% (payable on maturity)
Inflation announcement dates. Top rates exclude deals with restrictive criteria. Notice ISAs exclude those over 180 days. Source: Moneyfactscompare.co.uk

Notes to editors

You are welcome to use part or all of this press release, so long as we are sufficiently sourced. We would appreciate a link back to Moneyfactscompare.co.uk.

Pioneering financial comparison technology for over 35 years, Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, banking, life, pension and investment products in the UK.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

Notes to editors

You are welcome to use part or all of this press release, so long as we are sufficiently sourced. We would appreciate a link back to Moneyfactscompare.co.uk.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, banking, life, pension and investment products in the UK.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

If you're looking for extra comment, a chart or more information, then please give us a call. We are always more than happy to help.

Adam French Head of News & Communications

01603 476154

Email Adam

Rachel Springall Press Officer / Finance Expert

01603 476210

Email Rachel

Caitlyn Eastell Press & PR Executive