As predictably as night follows day, we have had a savers rant in the Times, complaining about falling interest rates.
What people don't seem to understand is that interest rates are the price of money and savers are really lenders, who loan money to borrowers, with the banks acting as middlemen and taking their cut as middlemen do. All year we've had savers complaining about the feckless youth of the country who are borrowing too much when they should be saving. And these same people have been complaining about prices. Now they've got their dearest wish - this it what it looks like when you have rapid disinflation and everyone is saving. The profits (interest rates) of the savers/lenders are falling, because no one will borrow from them. Message to savers - your interest comes from borrowers, not out of thin air, and when people cease to borrow, you cease to get a return for your money.
Of course some savers believe they should be paid high interest rates even if no one is borrowing, in the same way that some people think they should be paid an income even if they do no useful work. But that's not how it works in a capitalist system. If savers want interest rates to go back up, they need to get out there and do their Christmas shopping and stimulate the economy.
If the above makes you feel grumpy, then console yourself with the thought that we are not a pure capitalist economy. Instead we are a mixed economy with a big Labour government. There is still one borrower left in town willing to pay you for lending your money. You can lend to Her Majesty's Government either by buying gilts (you can do this directly - see your Post Office for the form) or through National Savings. National Savings are offering tax-free Index-Linked Savings Certificates at 1% + RPI, which is pretty damn good. It should be enough to cheer up the grumpiest saver.