Savers Lose as Yields on Long-Term CDs Fall Below Inflation Rate
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Savers who put their cash in longer-term certificates of deposit are losing out to inflation, according to Market Rates Insight.
The annual inflation rate of 3.16 percent in April topped the best 5-year CD rate of 2.4 percent, according to San Anselmo, California-based Market Rates Insight in a report today. Inflation was 2.11 percent in February, surpassing the long-term CD rate of 2.10 percent for the first time since October 2008, Market Rates said.