Large numbers of UK workers are concerned about the effect inflation will have on their lifestyle benefits.
A new study conducted by the Post Office has indicated 93 per cent of respondents are wary of the impact inflation will have on their finances.
The latest inflation figures will be published tomorrow (July 12th) and 19 per cent of people are unsure whether a rise would be greater than the interest being paid on savings accounts.
Despite being fearful of inflation, the research suggested that 72 per cent of workers did not know what the current rate was.
Director of savings and investments at the Post Office Richard Norman said: “With inflation currently higher than the interest offered by many savings accounts, people may find they’re effectively losing money on their savings.”
More firms may consider supporting staff with rising living costs when tailoring an employee benefits package, as a number of companies – including British Gas – have announced energy price hikes.