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Low-income households` cost of living `rising faster than inflation`

10/07/2009

The Joseph Rowntree Foundation has claimed that the cost of living for low-income households is rising faster than the official rate of inflation, reports the BBC, putting them at higher risk of debt problems.

The Foundation said that living costs for a single-person household on a low-income budget were up by 5.3% this year, while costs for pensioners and couples with children had risen by 5%.

This had largely been caused by a 7-12% rise in the cost of fuel, food and public transport.

A spokesperson for Debt Advisers Direct said: "Official inflation figures are an average, and different people experience it differently. These figures suggest that low-income households may indeed be affected the most, as they spend a greater proportion of their incomes on necessities.

"For people on a low income, rising costs of living can greatly increase the risk of problems with debt. Anyone in that situation should not hesitate to contact a professional debt adviser to discuss their options."

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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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