Households “buckling under the strain” of rising costs
The latest UK Consumer Prices Index (CPI) figures, published today by the Office for National Statistics, show that CPI rose to 7 percent in the twelve months to March, up from 6.2 percent in February.
Recent research from the charity, which runs National Debtline and Business Debtline, on the impact of rising costs on households, found that:
- One in seven (an estimated 7.9 million) UK adults is behind on at least one household bill.
- One in eight (an estimated 6.2 million) have already gone without heating, electricity or water in the last three months.
- Only one in five (20 percent) UK adults felt prepared to deal with rising costs.
Joanna Elson CBE, chief executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said:
“Today’s inflation figures will only add to the mounting pressure on households, with many already buckling under the strain of rising costs.
“One in eight UK adults say they have already gone without heating, water or electricity in the last three months. With energy, food and fuel price rises showing no signs of easing, and National Insurance increases hitting pay packets for the first time this month, there is no respite in sight.
“Urgent action is needed to prevent more people facing impossible choices trying to meet basic needs, and at risk of an increasing burden of debt.
“Raising benefits above Monday’s 3.1 per cent increase, would be a good start, along with more targeted support for people struggling with household bills.
“I would encourage anyone worried about their finances to seek free, independent debt advice from a service like National Debtline.”
National Debtline provides free, independent debt advice at www.nationaldebtline.org.
