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Rising inflation a ‘growing concern’ for stretched household budgets

Money Advice Trust responds to inflation figures

The latest UK consumer price inflation (CPI) figures, published today by the Office for National Statistics, show that CPI was at 4.2%, up from 3.1% in September, its highest rate since November 2011.

Joanna Elson CBE, chief executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said:

“Today’s figures, which show inflation at its highest level for a decade, are a growing concern with many households already struggling to cover essential bills. Rising energy costs, surges in fuel prices and increasing costs across the board, are contributing to a further squeeze on budgets, many of which are already at breaking point.

“At National Debtline nearly four in ten callers do not have enough coming in to cover essential outgoings. As the cost of living continues to increase, our concern is that more people will be pushed into difficulty.

“I encourage anyone worried about their finances to seek free debt advice as soon as possible.”

National Debtline offers free advice at www.nationaldebtline.org.




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