“Relentless pressure” on household budgets continues as inflation remains high

The latest UK Consumer Prices Index (CPI) figures, published today by the Office for National Statistics, show that CPI rose by 10.5 percent in the twelve months to December 2023, down from 10.7 percent in November.

Jane Tully, director of external affairs and partnerships at the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said: “The relentless pressure on household budgets has continued into the New Year and shows little sign of easing. Many households will face tough decisions in the coming months – and with further energy price and council tax rises on the horizon, the situation is set to get harder.

“For those already struggling, it is vital that they receive the support they need to get them through the winter – including protections from being pushed further into difficulty by unaffordable debt repayments.

“I would encourage anyone worried about their finances to contact a free, independent debt advice service like National Debtline. Our advisers will be able to take you through your options and what next steps you may be able to take.”