Money Wellness
Image of a a falling graph with a stop sign that says inflation surrounded by pots of money
category iconcost of living
category iconMoney Wellness
calendar icon20 Sep 2023

Today's inflation figures

“Inflation falling to 6.7% is positive for the economy. But prices are still going up at a rate that’s higher than long term historical trends, so people won’t necessarily feel the saving in their pockets.

“The people who contact us for help don’t even have enough money for essential bills – things like rent or mortgage payments, council tax, heating, and lighting. And almost one in ten can’t afford food and we’re having to make numerous referrals to food banks daily.

“This winter is also looking pretty bleak with around 6.3 million households predicted to be living in fuel poverty by November. While falling fuel prices seems optimistic at first glance, households will be no better off than last winter now that the government’s support has been withdrawn. In fact, those who have previously kept their heating off to keep bills low, will lose out this year to much higher standing charges.

“We’re calling for the government to look again at how it can help households in fuel poverty this winter. More needs to be done to support the most financially vulnerable until the economy stabilises further.”

Avatar of Caroline Chell

Caroline Chell

Caroline has worked in financial communications for more than 10 years, writing content on subjects such as pensions, mortgages, loans and credit cards, as well as stockbroking and investment advice.

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