Inflation hit its highest level in a decade this week off the back of soaring energy costs and petrol prices.

Why is the cost of living on the rise, when will interest rates go up, and how will all this affect the pound in our pocket?

This week, Georgie Frost, Lee Boyce and Mike Sheen take a look at the 4.2 per cent CPI figure and how it is becoming harder to ‘inflation proof’ your finances.

It looks like the state pension triple lock could be doomed – that 3.1 per cent rise pencilled in for next year doesn’t look generous considering the rise in the cost of living.

There is a special delivery for Royal Mail shareholders while major banks are not only shuttering branches, but are increasingly telling customers to serve themselves.

And finally, TSB is the latest bank to offer a prize draw, is it a good alternative to Premium Bonds or simply a gimmick?

How to listen to the This is Money podcast 

We publish our podcast every Friday to the player on This is Money, above, and on Apple Podcasts (iTunes) and on the podcast platforms Audioboom and Acast, both of which allow you to listen on desktop, mobile, or download an app. We also now publish to Spotify.

To download the Apple Podcasts app if you do not already have it, go to the App store. Or go to either the Apple App store or the Google Play store on Android to download the Acast, AudioBoom or Spotify app. 

Press play to listen to this week’s full episode on the player above, or listen (and please subscribe and review us if you like the podcast) at Apple Podcasts, Acast, Audioboom and Spotify or visit our This is Money Podcast page.   

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This post first appeared on Dailymail.co.uk

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