6.8 million adults struggling to meet essential costs as inflation rises
National Debtline responds to latest ONS inflation figures.
Posted August 14, 2024
The Office for National Statistics has published its latest Consumer Prices Index, which shows the rate of inflation rose to 2.2 percent in the 12 months to July, up from 2 percent in June 2024 – the first increase since December 2023.
Findings from leading debt advice charity National Debtline show:
- an estimated 6.8 million UK adults are struggling to meet day-to-day costs.
- 11.4 million (21 percent) people say their financial situation is worsening.
- two in five (43 percent) of National Debtline clients have a broken budget – where they do not have enough coming in to cover essential costs.
Steve Vaid, chief executive of the Money Advice Trust, the charity that runs National Debtline, said:
“The pressure is still on for millions of households grappling with the impact of the high cost of living.
“With more than one in five UK adults seeing their financial situation worsen, it’s becoming even harder for many people to cope with everyday costs like rent and council tax.
“It’s right the Government is looking to support people who are struggling. This should include improving support under Universal Credit and a Help to Repay scheme for households with unaffordable energy debts.
“National Debtline is here to help anyone who is worried about their finances, with free, independent and expert advice.”
National Debtline provides free, independent, expert advice. Contact National Debtline for free on 0808 808 4000 or via www.nationaldebtline.org
