As well as the weather, are savings rates freezing too?

While we wait for the next base rate decision at the beginning of February, the savings providers appear to have taken a pause from the frenetic activity that we have come to expect. As we explained last time, with inflation beginning to fall, that could spell the end to the rise in interest rates. That said, we are expecting another rise this time around - but how many more is questionable.

And while it's been quiet, there has of course been some activity that we can report on, especially towards the end of the week. Hopefully there will be more savings news to report next week.

🔖 Read: Rates Rundown - as the weather freezes, so too do savings rate rises.

The increasing cost of living continued its downward trajectory for the second month in a row in December 2022, according to the latest figures from the Office for National Statistics (ONS).

Inflation, as measured by the Consumer Prices Index (CPI) rose by 10.5% in the 12 months to December 2022, but this is down from 10.7% in November and down from its recent peak of 11.1% in the year to October 2022. So, have we seen the peak? Of course CPI is a general measure of how much prices are rising - your personal level of inflation could be very different - so it’s worth knowing if the things you buy are rising by more or less than CPI.

🔖 Read: Inflation eases slightly – but still remains way over target at 10.5%

With inflation starting to fall, this is likely to spell a peak to the rise in interest rates across the world.  And although 2022 was a tumultuous year for markets, the outlook for this year looks more favourable. With markets falling last year, this creates attractive opportunities and the risks that investors faced last year show signs of abating. TPO's Chief Investment Officer, Toni Meadows, explains why much of the pain could be over, although the ride is likely to remain bumpy.

🔖 Read: Will 2023 see a calming to the storm?

The first Monday of January is dubbed as ‘Divorce Day’ by family law solicitors, as they notice an increase in the number of divorce and dissolution of civil partnership enquiries at this time. Sad but true. And for those going through what is bound to be a very emotional and tough time, it can be surprising just how long the process can take and what it entails. As a result, it’s wise to engage a financial adviser as well as a solicitor, to help you through it. But why does it take so long, even if it’s a simple situation?

🔖 Read: How long does a divorce take?

Inflation eases slightly – but still remains way over target at 10.5%

The Consumer Prices Index, which is a key measure of how much prices are increasing, fell to 10.5% in the year to December, slightly lower than the 10.7% figure in November. But of course, this means that the pace at which prices are rising fell, as opposed to the cost of items actually falling in price.

Once again, the reduced cost of petrol and diesel prices in December compared to November last year was a main reason for the fall in the rising cost of living – along with cheaper clothing and footwear. But while we don’t all have to buy motor fuels and may not have a need to buy new clothes and shoes at the moment, food prices have continued to rise faster than ever, up 16.9% in the 12 months to December – something the majority of us can’t avoid unless we are living Tom and Barbara’s ‘Good Life’!

How long does a divorce take?

One of the biggest questions that people have at the end of a marriage is: “how long does a divorce take?” Naturally, most people want to get things over and done with as quickly as possible, but there are a number of steps to go through, and this means that divorce proceedings can vary in length.

The quickest a divorce or dissolution takes is six months to complete, while the average is eight to twelve months, with a further four months to be added if a pension sharing order is involved. Here we look to break down the timeline of divorce proceedings so that you know what to expect...