CPI inflation stayed at 2.7% last month, unaltered from October.
The RPI inflation decreased from 3.1% in October to 2.9% in November.
The Office for National Statistics said, even though the rate had not altered, compared with October there had been many substantial upwards and downwards pressures.
Food and nonalcoholic beverages rose by 1.1%. Housing and household services rose by 0.6%, especially gas and electricity. They were the largest upward pressures.
Motor fuels fell by 1.0% and furniture, household equipment and maintenance fell by 0.1%. They were the largest downward pressures.
For RPI the largest downwards pressures were from motoring expenditure, housing and household goods, which in turn was offset by an upwards pressure from food.
Another announcement from The Office for National Statistics included changes being made to the CPI readings in March 2013. The changes will include owner occupiers housing costs joining the CPI, to create the CPIH. This inflation index will monitor housing costs using a rental equivalent method: This will display the costs of owning, living in and maintaining a property.
The reading for the Consumer Price Index will next be taken on the 15th January 2013.
According to Prudential, three-quarters of Britons say they are unaware of what their income in retirement will be. This has risen to 81% between the ages of 40 and 54.
The survey taken was of 2,000 couples aged 40+, it questioned the couples attitudes towards their retirement. 17% of those who took part said they didn’t know what their main source of income would be when they retired. 11% said they would be looking to other sources of income rather than their pension.
7% of people said they would be entirely dependant on their partner in retirement, rising to 10% of women.
In the survey, concerning financial planning, less than half of the couples had made arrangements for joint retirement to ensure their partners are protected if they die.
26% of people surveyed have never discussed what will happen to their pensions, whilst 13% of people said that the only financial planning they had made for the future was a will.
A study has shown 1 in 5 Britons are borrowing money from relatives to help them buy Christmas presents.
According to a new study by Scottish Widows’, Centre for the Modern Family, 44% of families will receive some kind of financial assistance from relatives to see them through the Christmas period.
Many people plan on spending Christmas with their families, to help keep the traditional British family Christmas alive. Relatives will also join forces this year in helping to foot the bill for the Christmas season.
However, more than 1 in 10 people are planning on sharing Christmas with their friends.
On Christmas day, 79% of people will open Christmas presents, with 43% watching Christmas specials on TV, and 1 in 5 watching the Queen’s speech. On Christmas Day, 1 in 5 families don’t leave the house.
For the majority of families traditional Christmas dinner remains a major part of the day. With 61% of us having our main meal at lunchtime, 15% eating in the evening, and 8% having Christmas brunch instead. This year, 4% of people will eat Christmas dinner in a restaurant, whilst 6% of people go to the pub for a drink, with only 7% attending Church on Christmas Day.
Another part of Christmas Day is arguments for 1 in 20 Britons, with the younger generation being more likely to argue with family members. 8% of 18-24 years and 25-34 year olds admitting to Christmas Day arguments, in comparison with only 2% of people over 55.
Interest rates of the Bank of England were held at 0.5% with an announcement of no quantitative easing.
The latest meeting of the Monetary Policy Committee was held on 5th and 6th December where the decision was made. Since, March 2009 interest rates have been held at 0.5%, whilst the quantitative easing programme was updated last in July, with £50 billion added.
The minutes of the meeting are to be published on the 19th December which includes further details. The Bank of England have said they will retain the size of Asset Purchase Programme at £375 billion.
Following last month's Inflation Report, it isn't really a surprise that rates have been held. There is a lot of uncertainty about the momentum of economic activity. Economic activity in November has not been strong, however, activity trends are inclined to vary. This has resulted in the service sector being stronger than the manufacturing sector.
Welcome to the Create Wealth blog! Here we will be keeping you up to date with the latest news from Create Wealth and the financial planning industry.
Create Wealth Management Ltd, often referred to as Create Wealth™, are pleased to announce that they are the 15th firm in Wales to be awarded Chartered status by The Privy Council.
The status of Chartered Financial Planners allows the firm to demonstrate their professional dedication to elevating standards of knowledge, capability and ethical practice. Currently there are only 362 firms throughout the United Kingdom who have received this status. This is an excellent step forward for the firm, who also intend to remain fully independent following the Retail Distribution Review on 1 January 2013.
In today’s economic climate financial planning is crucial to everyday life. Create Wealth™ was formed in 2004 by Directors, Peter Davies and Stephen Ng. They have the ability to provide specialist advice on investment, retirement planning and wealth preservation. Their clients are diverse, including professionals, company directors, business owners, retired and retiring individuals and professional sportspersons.
The Chartered title promotes that Create Wealth™ is a financial planning firm that has demonstrated the highest standard of excellence and integrity; that they ensure their service is of the greatest quality and that the firm are committed to professional development to assure these standards are maintained.
When discussing this achievement with the Director of Create Wealth™, Stephen Ng, he said:
“To receive Chartered status is an excellent achievement for Create Wealth™ and one Peter Davies and I are extremely proud of. It offers the highest industry assurances about our ability, our expertise and our commitment to providing individually tailored investment planning and financial solutions to each of our clients at a high standard that we endeavour to maintain moving forward.”
Financial planning is a six step process that incorporates key goals, finance and planning to ensure you receive the best return from your investments. Create Wealth™ have offices based in Bristol, Cardiff and Langstone. They already advise a range of clients throughout the UK and have developed excellent working relationships with them.
For more information please visit www.createwealth.co.uk
