{"id":19845,"date":"2019-12-12T09:48:44","date_gmt":"2019-12-12T09:48:44","guid":{"rendered":"https:\/\/smh.group\/?p=19845"},"modified":"2023-02-15T13:18:57","modified_gmt":"2023-02-15T13:18:57","slug":"factor-inflation-into-your-planning-cycle","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/factor-inflation-into-your-planning-cycle\/","title":{"rendered":"Factor inflation into your planning cycle"},"content":{"rendered":"\n

Inflation has fallen to its lowest level in almost three years, but you should still take it into account.<\/strong> <\/p>\n\n\n\n

The October measure of annual inflation was lower than\nmost experts had expected. At 1.5% on the CPI\nyardstick, it was the lowest since November 2016 and 0.5% below what is still\nthe Bank of England\u2019s central target of 2.0%. Ironically, the main reason\nbehind the fall was a government price control, which began at the start of the\nyear: the utility price cap. <\/p>\n\n\n\n

This now operates on a half yearly cycle, with the cap\nreset on 1 April and 1 October by OFGEM, the utility regulator. The fall in the\nannual CPI rate reflected the latest October adjustment, which produced a\ntheoretical dual fuel price cut of 6% for the \u2018typical customer\u2019 on default\nrates.  <\/p>\n\n\n\n

Of course, what the regulator gives, the regulator can\njust as easily take away \u2013 the April 2019 review resulted in an average 10% increase<\/em>\nin the cap. Either way, it is a reminder that\nbehind the headline inflation number, there are many factors at work, often\npulling in opposite directions at different times. <\/p>\n\n\n\n

Cumulative effect<\/strong><\/h2>\n\n\n\n

While inflation is now relatively low, it remains an important factor in financial planning<\/a><\/span><\/strong>, not least because of its cumulative effect. Over the last five years, the period covered by the graph, prices rose by 7.9%, while over the last ten years prices increased by almost a quarter at 24.2%. Unless your financial planning is regularly reviewed to take account of inflation, you could find that it gradually becomes outdated. <\/p>\n\n\n\n

At this time of year, as the new year approaches, it is a wise idea to look at any fixed components of your planning, such as life assurance<\/a><\/span><\/strong> cover, income protection<\/a><\/span><\/strong> or regular pension<\/a><\/span><\/strong> savings, and consider whether they need to be increased to counter the effect of inflation. Do talk to us before taking any corrective action as it might be better to start afresh rather than make an incremental increase to an existing arrangement. <\/p>\n\n\n\n

You can contact our experienced team of Financial Advisers<\/a><\/span><\/strong> on 0114 266 4432<\/strong> or info@smhca.co.uk<\/a><\/span><\/strong><\/p>\n\n\n\n

The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Inflation has fallen to its lowest level in almost three years, but you should still take it into account. <\/p>\n","protected":false},"author":4,"featured_media":19846,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[238,98,77,420,237,419,79],"class_list":["post-19845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-bank-of-england","tag-financial-advice","tag-financial-planning","tag-income-protection","tag-inflation","tag-life-assurance","tag-pension"],"acf":[],"yoast_head":"\nFactor inflation into your planning cycle - SMH Group<\/title>\n<meta name=\"description\" content=\"Inflation has fallen to its lowest level in almost three years, but you should still take it into account.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Factor inflation into your planning cycle - 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