The Consumer Prices Index (CPI) remained at 2.70% during January, above the Government's target of 2% and spelling yet more frustration for the nation's beleaguered savers.
Research compiled by Moneyfacts.co.uk has found that out of 874 standard savings accounts, just six pay rates of return that beat or match the rate of inflation.
All of these accounts are fixed-rate cash ISAs of between three and five years, so savers must be willing to lock their money away for the duration of the term.
Inflation beating accounts:
BM Savings 3 Year Fixed Rate ISA
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Penny says: "This account pays an inflation-beating rate of 2.80% to savers with deposits of £50,000 and over.
"Unlike many fixed rate accounts, funds can be accessed early although this will be subject to a loss of interest penalty depending on the remaining term."
Nationwide Building Society 4 Year Fixed Rate ISA
Penny says: "This attractive tax-free bond pays a competitive rate of 2.70% to savers looking to invest their money over a four-year period.
"This ISA requires a minimum deposit of just £1, although savers would be wise to invest as much as possible as further additions cannot be made during the term of the deal."
Cheshire Building Society 4 Year Fixed Rate Cash ISA
Penny says: "Paying a rate of 2.70%, the 4 Year Fixed Rate Cash ISA offers an attractive savings deal to investors with deposits of £100 and over.
"It is important to remember that this account can only be operated in branch of Cheshire Building Society."
Derbyshire Building Society Fixed Rate ISA Issue 65
Penny says: "This competitive ISA pays an inflation matching rate of 2.70% to savers looking to invest over a four-year period.
"Additional deposits can be made during the term of the deal and early access to funds is also permitted, although it is important to remember that this is subject to a 320 days' loss of interest penalty."
Dunfermline Building Society Fixed Rate Cash ISA Issue 56
Penny says: "As with the previous account from Derbyshire Building Society, this deal pays an inflation-matching rate of 2.70% to savers with investments of £100 and over.
"Savings funds from previous ISA allowances can be transferred into this account."
Halifax ISA Saver Fixed
Penny says: "Halifax launched this attractive five-year fixed-rate ISA this week, paying an inflation-matching return of 2.70%.
"Funds can be accessed within the term, although savers must be prepared to incur a 320 days' loss of interest penalty."
Compare the best savings rates 3, 4 & 5 year fixed rate ISAs
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