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“Tough winter ahead” for many as costs remain high

The Money Advice Trust comments on figures showing inflation rose by 10.7% in November

Posted December 14, 2022

The latest UK Consumer Prices Index (CPI) figures, published today by the Office for National Statistics, show that CPI rose by 10.7 percent in the twelve months to November, compared to 11.1 percent in October.

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

“Households are facing a tough winter ahead as inflation continues to remain high. It’s clear the challenge of affording essential costs, including food and energy bills, isn’t going away anytime soon and for many is only set to get harder with the cold weather now well and truly with us.

“Government support announced during the Autumn Statement will provide some targeted relief, but it does not get close to matching the scale of the challenge many households are already facing – and a new cliff edge in April is now coming in to view. Further support and protections are needed including making sure that no one is pushed into hardship by unaffordable debt repayments and suspending the forced installation of energy pre-payment meters.”

“Anyone worried about your finances, should seek free, independent debt advice from a service like National Debtline or Business Debtline as soon as possible.”

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