Inflation figures offer little relief for household budgets

17 September, 2013

In response to today’s Consumer Price Inflation (CPI) figures, StepChange Debt Charity head of policy Peter Tutton said:

“Today’s figures offer little relief to the millions of British households who continue to see the basic cost of living becoming increasingly difficult to meet. A fall in inflation is welcome, but while wage growth remains anaemic family budgets will be increasingly stretched by spiralling living costs, leaving many vulnerable to debt”.

Rising arrears on household bills 

The impact of low wage growth and rising costs is reflected in the increased numbers of StepChange Debt Charity clients with arrears on essential household bills. Between 2011 and 2012 the number of the charity’s clients with arrears on at least one household bill rose from 27 to 35 percent, while the average arrears on household bills rose from £2,134 to £2,258 over the same period.