Stuff's getting pricier

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Don’t get deflated

UK inflation rose to its highest in six months in January, with the Consumer Prices Index (CPI) hitting 1.8%. This is still within the Bank of England's 2% target for inflation. What does it mean? Essentially, the stuff we buy is getting more expensive. This increase is mostly being driven by rising petrol prices, which are up 4.7% compared to a year ago.

5G worth trillions

The global economy could enjoy a massive boost from the widespread use of 5G networks. New research from McKinsey has found that global GDP could gain up to $2 trillion by 2030 (paywall) through using super-fast internet in the healthcare, manufacturing, retail, and mobility sectors alone. How? It reckons improved connectivity can open up new revenue streams and raise productivity.

Do you live on a floodplain?

One in 10 new homes built since 2013 has been built on land that’s at a high risk of flooding. That’s 84,000 homes, a number which has more than doubled in recent years. Homes in high-risk areas can be devastated by winter storms like Ciara and Dennis which have battered the UK in the last few weeks.

Pensions advice being monitored

Companies are so concerned about bad pension advice that they’re bringing in third parties to check what employees are being told (paywall). What’s the fuss about? The Financial Conduct Authority (FCA) warned this week that tens of thousands of people could run out of money in retirement, after it found that up to £20 billion of defined benefit transfers may have been based on unsuitable advice.

Barclays measuring loo breaks

The bank’s new scheme has been branded a “Big Brother” move after it installed software on its employees' computers to check they’re working hard enough. The software gives staff daily updates on their productivity, tells them to avoid taking breaks, and sends a slap on the wrist message if they haven’t been “in the zone” enough.