Consumer advocate Martin Lewis is sounding the alarm about a growing issue: broken smart meters. He claims the problem is so widespread that people are advising each other to avoid getting them altogether. He has even written an open letter to Energy Secretary Ed Miliband urging him to address the situation, arguing that the focus should shift from simply installing smart meters to ensuring they function properly and are promptly repaired when needed.
Meanwhile, chocolate lovers are bracing for a sweet treat – with a hefty price tag. As Halloween approaches, chocolate prices are soaring, adding to the already rising cost of living. This comes despite the headline inflation rate remaining stable at 2.2%, the same as the previous month. While the overall inflation figure might suggest stability, the truth is a bit more nuanced. Airfare prices have risen significantly, particularly for European destinations. On the other hand, petrol prices have dropped, as has the cost of alcohol in shops.
Looking for a bargain? Shoppers are flocking to New Look for their ‘perfect’ beach dress, now available at 60% off. Dunelm is another hot spot, with their quiet fans selling out fast starting at just £2.50. And for those seeking a salon-quality blowout at home, a TikTok viral hot brush promises professional results in just 5 minutes. For even more savings, New Balance is offering an extra 30% off their sale section, but you’ll need to act quickly. And elevate your summer style with up to 50% off dresses and occasionwear from Ghost.
This consistent inflation rate has experts speculating that the Bank of England will maintain interest rates at 5% during its decision tomorrow.
Beware the Voice Cloning Scam
Scammers are getting increasingly sophisticated, and their latest trick is voice cloning. Using AI, they can now replicate someone’s voice from as little as three seconds of audio. While 46% of adults are unaware of this technology, scammers are using it to target unsuspecting individuals. In the past year, 28% of adults reported being victims of such scams. To combat this, Starling Bank is urging people to agree on ‘safe phrases’ with their loved ones, providing an extra layer of verification in case of emergency calls.
Banking Hubs Arrive, But Not Without Issues
As online banking has become more prevalent, thousands of physical banking branches have closed down. This presents a challenge for individuals who are not tech-savvy or have complex issues that require in-person interaction. To address this, 15 banking hubs have been announced across the UK, offering face-to-face banking services. These hubs are shared spaces where customers can access basic banking services and cash. They also feature a counter service operated by the Post Office, and staff from major high street banks rotate to provide support for more complex matters.
The locations for these banking hubs are:
* Sidcup, London
* Normanton, West Yorkshire
* Hailsham, East Sussex
* Frome, Somerset
* Sheerness, Kent
* Whitley Bay, Tyne and Wear
* Rugeley, Staffordshire
* Newquay, Cornwall
* Market Harborough, Leicestershire
* Thetford, Norfolk
* Monmouth, Monmouthshire, Wales
* Morecambe, Lancashire
* Harpenden, Hertfordshire
* Huntly, Aberdeenshire, Scotland
* Yeadon, West Yorkshire
However, these new hubs are experiencing some initial difficulties. Notably, the BBC reports that some lack printers, which poses a problem for customers who need to present paper statements to landlords or employers. Cash Access UK, the organization setting up the hubs, has acknowledged the issue and will be working to ensure all hubs have printers.
Bradford: The Cheapest Night Out in the UK
If the talk of money has you yearning for a luxurious vacation, consider Bradford, West Yorkshire. This city has been crowned the cheapest for a night out in the UK, with a total cost of just £94, including a hotel stay. At £52 cheaper than the UK average, Bradford boasts affordable weekend hotel prices at £67 per night. Taxi fares are also wallet-friendly, with a one-mile journey costing just £3.55. While the average cost of a pint in 2024 is £4.35, it has unfortunately increased by 45% in the past two years.
Inflation Holds Steady, but Variations Exist
The UK’s inflation rate remained unchanged at 2.2% last month, but this stability masks significant price fluctuations. Data from the Office for National Statistics reveals a significant increase in airfares, soaring by over 22% between July and August. On the brighter side, motorists are experiencing some relief, with the average petrol price dropping to 142.3p per litre, down from 148.5p a year ago.
Grant Fitzner, chief economist at the ONS, highlighted falling costs at restaurants and hotels, along with a slight decrease in the prices of shop-bought alcohol, although these prices had increased during the same period last year. This continued inflation above the 2% target for the second consecutive month suggests that the Bank of England is likely to maintain interest rates at 5% when it makes its decision on Thursday. Jake Finney, economist at PwC, attributes the more than doubling of cinema, theatre, and concert price inflation, jumping from 4.4% to 9.2% last month, partially to the ‘Taylor Swift effect,’ with August marking the end of her UK dates for the Eras tour.
