There are currently 172 savings and cash Isa accounts that equal or beat the rate of CPI inflation, which measured 2.1% for December 2018.
This is great news for savers, who have endured years of poor rates - including several months when no cash savings accounts could compete with rising prices.
Here, we detail how many of each kind of account can beat inflation, along with the top-rate deals in each category.
For the past couple of years, savers have been forced to lock their money away for several years in order to bag a CPI-topping rate.
But when inflation peaked at 3.1% in November 2017, no traditional savings accounts could beat it or come anywhere close to matching it. The highest rate being offered by a five-year fixed account was a measly 2.51%.
This was a nightmare for savers, who continued to suffer until inflation dipped to 2.5% in March 2018, when the top-rate five-year savings account could just about beat it with 2.65% AER.
Now, there are 79 fixed-rate savings accounts that pay 2.1% or more, and they're not just restricted to five-year fixes. All of these accounts require a minimum investment of £5,000 or less, and we've stripped out duplicates with slightly different terms, such as account interest being paid monthly and annually.
This is despite the average rate for long-term saving rates being 1.86% this month. While this still falls short of the inflation rate - showing that plenty of accounts will still pay way below - it's up 0.21% since the same time last year.
As inflation has gradually reduced towards the target 2% mark, so savings account rates have gradually increased - and hopefully they'll continue to do so.
This month marks the first time since November 2016 that savers have been able to beat inflation with a one-year fix. Back then, CPI was 1.2% and the highest one-year rate was 1.41%. Several one-year accounts could equal or beat inflation.
Currently, there are just two one-year fixes that top 2.1%:Gatehouse Bank's one-year fixed-rate deposit, with a 2.15% EPR (Expected Profit Rate); and Al Rayan Bank's 12-month fixed-term deposit, with a 2.12% EPR. Both require an initial minimum deposit of £1,000.
The highest rate on offer comes from Bank of London and The Middle East; its seven-year fixed-term deposit expects to pay 2.75% EPR (0.65% more than the rate of inflation).
Its five-year fixed-term deposit is the second-highest rate account, offering 2.7% EPR. Both require a minimum initial deposit of £1,000.
Vanquis bank's five-year fixed-rate bond also offers 2.7% AER, again with a minimum initial deposit of £1,000.
The top three accounts for this term include:
While cash Isa rates still lag behind savings accounts, they do have the benefit of being tax-free.
In addition to the Moneyfacts data, we identified 20 regular savings accounts that pay above the rate of inflation, but many come with very specific caveats and require deposits to be made every month.
The top rates are:
Each of these accounts require at least £25 to be paid in each month. You can deposit a maximum of £300 each month with First Direct, and up to £250 with M&S Bank and HSBC.
You'll also need to already hold other accounts with each provider before you're eligible for these regular savers.
First Direct's AER only lasts for 12 months, after which it will plummet to 0.15% AER, so make sure you switch after a year.
The M&S Bank account requires you to keep the account open for at least a year in order to receive the 5% interest. Closing the account early will mean you'll only earn 0.2% AER.
You can only receive the preferential rate with HSBC if you hold an HSBC Premier or HSBC Advance account, both of which require a fairly high minimum deposit each month. The rate will also drop to 0.2% AER if you close the regular saver account within 12 months.
Note that two of these accounts are restricted by location - Danske Bank account must be opened in-branch, all of which are in Northern Ireland; only customers living in certain postcodes can open an account with Darlington Building Society.
The highest rate that's available nationwide is Barclays Help to Buy Isa, which offers 2.58% AER - still 0.48% above inflation.
Note that while the Nationwide account is billed as being instant-access, it only permits one withdrawal per year, otherwise the AER will be reduced to 0.5%.
We also identified some additional regular children's savings accounts:
The ability to open these accounts will also depend on where you live, and each requires a certain amount to be deposited each month, so make sure you can commit to making regular payments before you sign up.
The Barclays account will also drop the rate to 1.51% AER if any withdrawals are made.
If your cash is saved in an account that doesn't match or beat the rate of inflation, your money will be losing value in real terms.
Say you save £100 for a year, and in that time inflation measures 2.5%.
Unless your £100 has been in a savings account that's paid enough interest to make it grow by at least 2.5%, you won't be able to buy as much with that money as when you first paid it into your bank.
This is because the goods and services you'll want to spend it on will have increased in price by the rate of inflation. Therefore, your money won't go as far.
Please note that the information above is for information purposes only and does not constitute advice. Please refer to the particular terms and conditions of the savings account provider before committing to any financial products.
Which? Limited is an Introducer Appointed Representative of Which? Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited.