Around 78% of people expect their savings pots to grow less than the rate of inflation, according to the latest MoneyMood Survey by Legal & General.
The same sentiment was shared by just 29% of savers questioned by the insurer this time last year.
A few days ahead of the UK's inflation figures being announced by the Treasury, the findings reveal a bleak outlook from both savers and employees struggling in the face of tax and inflation.
Despite the Consumer Prices Index (CPI) falling from 3% in April 2012 to 2.8% last month, 59% of people believe their salaries will fall behind inflation over the next year, compared to four in ten (38%) of respondents in May 2012.
Mark Gregory, chief executive of savings at Legal & General, said: "Many more households have come to realise that they have to deal with high inflation combined with low interest rates, largely as a result of the Bank of England policy on QE.
"While low interest rates are good for borrowers, when inflation remains high that does come at a price for savers. People will either have to save more or look to save in different ways, or both to combat inflation," he added.
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