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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Supermarket price rises far above inflation

20/11/2008

The latest inflation report from the Office for National Statistics (ONS) shows that the average cost of a weekly shop for a family of four has grown by almost four times the inflation rate in one year.

The figures showed a rise of 17.8% since November 2007, based on a ‘basket’ of 24 staple items, even though October’s figures showed a fall in the prices of food and non-alcoholic drinks – as well as in the overall inflation rate, which dropped from 5.2% to 4.5%.

The contrast between supermarket figures and the overall inflation rate in the past year was one factor that led many analysts to question the relevance of official inflation figures to the average household. A number of newspapers released ‘real’ inflation figures, which measured costs perceived to be more representative of the average household’s typical outgoings.

A spokesperson for Debt Advisers Direct commented: “Many supermarket prices have recently fallen, and inflation as a whole is slowing, but the figures clearly demonstrate how much more the average family is paying to achieve the same standard of living as this time last year.

“There are still many people left struggling with debt due to the price increases experienced throughout 2008 – and we advise anyone in that situation to seek debt advice as soon as possible.”

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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