Inflation exceeds 11%, says index
Article Category: Debt Management Help and Advice
Inflation hits 11.6 per cent – quadruple that of the Bank of England’s official figure, it has been reported.
The Daily Mirror index revealed the figure on Monday (June 23rd) explaining that transport costs were up 16 per cent, food by 14 per cent and utilities by 13 per cent.
People struggling with bad debt worried about making repayments could find it even harder to keep their heads above water in the current financial climate.
The publication cites The Grocer’s research which found a typical weekly basket of shopping containing 25 items now costs £2,067 annually – showing a year-on-year rise of £263.
Meanwhile, a recent Centre for Economics and Business Research report commissioned by Asda found high costs had outstripped earnings leaving households £8 worse off compared to last year.
A YouGov survey revealed last week nearly half of Britons fear they will fall into debt over the next 12 months.
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