Data from today’s Wealth and Assets Survey from the Office of National Statistics has shown that the self-employed continue to invest in property over pensions for their retirement.

CPI inflation reversed its recent downward trend in June with an increase to 0.6% from 0.5% in May due mainly to increased recreation and culture costs.

Almost £10bn was transferred out of defined benefit pensions in the final quarter of 2019, according to official data.

The Consumer Prices Index (CPI) 12-month inflation rate fell significantly to 0.5% in May - the lowest rate for four years.