Rise in inflation shows pressure on squeezed households remains

The Office for National Statistics has today published its latest UK consumer price inflation figures. The figures show the Consumer Prices Index was at 2.5 percent in July 2018, up from 2.4 percent in June 2018, the first rise since November 2017.

Figures published today also show that regulated rail fares are also likely to increase by 3.2 percent.

Jane Tully, director of external affairs at the Money Advice Trust, the charity that runs National Debtline, said: “This first rise since November shows that the pressure on household finances continues and offers little respite for those people with already squeezed budgets.

“And with the recent interest rate rise and a likely increase in transport costs on the horizon many households are facing a combination of budget challenges.

“From what we hear at National Debtline, one small increase in costs can be all it takes to push some households into difficulty.

“I would encourage anyone struggling to cope to contact National Debtline or another free debt advice agency as soon as possible.”