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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`

Cost of living ‘falls’

12/01/2009

The Telegraph’s Real Cost of Living Index (RCLI) – intended to give a more accurate picture of the level of inflation experienced by the average British consumer – has suggested that the overall cost of living has fallen.

The RCLI, which measures the average annual rate of change in food, household and transport costs, showed deflation of 0.1% in January, compared with December 2008’s 0.2% inflation.

The figures will be a welcome sign to consumers – especially those struggling to repay debts – that living costs are finally falling. At its peak in July 2008, the RCLI measured inflation at 10.8% – when the Government’s official CPI measure showed only 4.4% inflation.

A spokesperson for Debt Advisers Direct said: “The RCLI is an interesting take on how the cost of living is changing for the average consumer, and it suggests that the recent falls in the cost of food, fuel and mortgage payments could be having a positive effect.

“Of course, falling costs do not necessarily help those already struggling with debt – and we urge anyone in that situation to get professional debt advice.”

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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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