Consumer finance trends: Savings rates drop, Tesco’s new Clubcard offer, energy supplier rankings, tariffs impact global markets.

The latest updates on consumer and personal finance are highlighted in The Mirror’s Money blog. Savings rates have dropped to 3.35% in January, the lowest since May 2023, as per Moneyfacts data. Tesco introduces a new Clubcard offer allowing customers to triple their Clubcard vouchers at select restaurants like ASK Italian and PizzaExpress. Which? ranks energy suppliers, with Scottish Power at the bottom and E scoring 79%. The President’s tariffs on US imports have global repercussions, affecting UK exporters. Tariffs may lead to job losses as companies face cost-cutting decisions. The savings market is evolving, with rates expected to decline due to market changes. Many households rely heavily on state pensions for income, revealed by ONS data. Regen Central Ltd, a travel agency, has gone into liquidation, canceling bookings. Caldwell Construction Limited has entered administration, risking over 400 jobs. The housing market sees a record price hike in January, with the average home price rising significantly.