Spectator money

The annual rate of inflation as measured by the Consumer Price Index rose to 1 per cent in September, according to the latest figures from the Office for National Statistics. That’s up from 0.6 per cent in the year to August. CPI tracks the cost of 700 household goods and services. Investment manager Thomas Laskey from Aberdeen Asset Management said: ‘The worrying factor is that today’s figure represents only a tiny part of sterling’s steep drop, and no effect from the second big tumble earlier this month. Such a large fall in the currency will bring with it higher import costs and we’re likely to see much higher inflation in the months

There’s always one. One colleague, friend or family member who starts banging on about Christmas months in advance. One smug person who risks a punch in the face for boasting ‘I’ve done all my Xmas shopping’ before the clocks have gone back. Thanks all the same but I don’t want to know how many days it is until December 25. I have no interest in seeing the M&S festive range. And I have zero appetite for a sneak preview of the John Lewis Christmas ad. Don’t get me wrong, I love Christmas and all that it entails. The bulging stocking (yes, my mum still does this), the tin of Quality Street, the

If you believe the national stereotypes, there are certain things us Brits can’t live without, among them fish and chips, a local pub and a proper brew. That last one is certainly top of my list. Since I gave up coffee, a cup of builder’s tea at least once a day is essential. And, when at home, I insist on Yorkshire Gold teabags. Ah, those little pockets of delight, the heady combination of leaves from Assam, Kenya and Rwanda. Just writing this makes me want to put the kettle on. When it comes to cuppas, I’ve done my homework. Lancashire tea is too floral, PG Tips too pungent, and don’t get me started on

Annuity rates are in free fall, which is bad news for anyone who wants to buy a guaranteed income at retirement. The average rate has dropped by 18 per cent in the past year, and by 27 per cent over the past five years, according to figures from Retirement Advantage. Or, put another way: someone with a £50,000 pension could have bought an average annual annuity income of £3,270 five years ago, £2,895 a year ago, and just £2,375 today, suggesting that 2016 will be the worst ever year for annuity rates. Rates are also unlikely to pick up any time soon, what with the economic uncertainty around Brexit and

I’m not a car-hater. Somehow, I’ve got two of them. I love driving. It’s fun, it’s powerful, it’s one of the best things about being born in the 20th century. But it’s getting seriously expensive. Cars are moneypits, that we all know. Buying one is often an exercise in trying to guess which will cost you the least over the next five to ten years. Petrol prices are rising again and likely to go up further as a result of higher oil prices and, of course, Brexit. A desire to avoid the slings and arrows of yo-yo petrol prices is one reason I seriously looked into getting an electric vehicle

I could recite the standard advice on instructing an estate agent in my sleep. Always invite three to do a valuation, don’t go for the one who quotes the highest asking price, and haggle on commission. However, it’s not until you sell your own house that you realise this mantra doesn’t even begin to prepare you for the shark-infested waters ahead. Here was the biggest investment I have ever made, my only source of equity, the once-dream home where I had raised two children. Here was my soul writ large on Rightmove. Tread softly? Any pride I once felt was trampled into the ten tons of dust disturbed by ‘decluttering’ it

Consolidation. It’s a word used widely in financial circles. Consolidation of debt (translation: combining lots of different credit cards into one seemingly simple yet unmanageable whole). Consolidation of assets (translation: combining liabilities into one seemingly simple yet unmanageable whole). You get my drift. So, consolidation is not always a good thing. I wonder if this will prove to be the case for a new government-run financial advice service. Although it has yet to be given a name, this brand spanking new single advisory body will, according to ministers, be more efficient than the organisations it, er, consolidates. Financial experts agree that we are better off without one of these: the

As a species, we humans share many characteristics. Opposable thumbs, a love for pizza, a dislike of losing at football. Perhaps most common, though, is the ability to recount horror stories about tradesmen. I have yet to meet someone without a handyman grievance. You’ve got one, right? A plumber who did more harm than good, the builder who left a wall looking like a colander, an electrician who nearly electrocuted the cat. Needless to say, I have multiple gripes of my own. There was the plumber in my London flat who installed two taps and a massive hole in the wall. The decorator who charged £150 to paint one tiny wall.

One of the occupational pleasures, and occasional hazards, of being a financial journalist is the need to keep up with your reading. I’ve consumed a stack of books about the financial crisis and its aftermath, including Michael Lewis’s The Big Short and Vicky Ward’s riveting account of the downfall of Lehman Brothers, Devil’s Casino, notable for its portrayal of the designer clad bankers’ WAGs, whose minutely-observed social hierarchy mirrored the ups and downs of their husband’s careers. (At a City dinner a few years ago I sat next to a former Lehman banker who appeared fairly prominently in the book – to my amusement, he was not remotely mortified but

If only all my stories had as much impact. My interview with Mark Carney, the Governor of the Bank of England, sent shockwaves around the world’s currency markets. The Canadian was just three months into his new role as Britain’s most powerful unelected official when he visited Leeds to explain the central bank’s then new policy of forward guidance to a group of business leaders at the offices of one of the city’s Big Six law firms. In person, Carney was smooth, confident and assured, just as you would expect from someone who spent his formative years at Goldman Sachs. I had 10 minutes with the Governor, who was accompanied

Poor customer service is endemic across swathes of British industry. It plagues some of our biggest companies and as customers we should not have to put up with it. After all, this is the UK, one of the richest countries in the world. Or am I wrong? It’s time, I say, to stand up, be counted and shout: ‘Poor service no more. Treat us as if you care, as if we are humans.’ Now that rant is off my chest, let me tell you about a recent personal experience. Early in August, I did the good fatherly thing by ordering a new Panasonic LED TV for my eldest son who had