11.4 million adults in a worse financial situation as inflation remains at 2%
National Debtline responds to latest inflation figures
Posted July 17, 2024
The Office for National Statistics has published its latest Consumer Prices Index, which shows the rate of inflation remained at 2 percent in the 12 months to June 2024.
Findings from leading debt advice charity, National Debtline, show that despite lower inflation an estimated 11.4 million UK adults (21 percent) are seeing their financial situation worsen.
Ahead of the King’s Speech, the charity is calling on the new Government to bring in urgent measures to support households and small businesses most heavily impacted by high costs.
Matt Hartley, director of engagement at the Money Advice Trust, the charity that runs National Debtline, said:
“Millions of people are still struggling, despite lower inflation, as the fallout from the cost of living crisis continues to impact household budgets.
“Our advisers at National Debtline hear every day from people who don’t have enough coming in to cover their essential costs, like energy or rent. This is the situation for 2 in 5 of the people we help, and more than half of the small business owners who reach out to us for advice.
“The new Government needs to prioritise support for households in difficulty, including helping people with unmanageable energy debts through a Help to Repay scheme, and improving the support offered by Universal Credit.
“I’d urge anyone worried about their bills to seek free, independent debt advice from National Debtline. No one needs to struggle alone.”
National Debtline provides free, independent, expert advice. Contact National Debtline for free on 0808 808 4000 or via www.nationaldebtline.org
