Rising household costs could pressure people in debt
August 6, 2010 – 8:48 pm The UK may be about to see a rise in food price inflation that could put extra pressure on already-stretched household finances, The Independent reports.
Kantar Worldpanel, a market research firm, has forecast a rise from 2% to 4% in grocery-price inflation by the end of the year.
The firm attributes this to growing wholesale prices of things like wheat and barley around the world.
The forecast comes at the same time as similar reports suggesting petrol and clothing prices could rise in the near future, while house prices have started to fall once again.
An expert at Debt Advisers Direct said: “There are a number of things on the horizon that could put pressure on people`s finances, and this will be especially worrying for people who are already struggling with their finances.
“As such, now is the time for people to do what they can to get their finances in order, including taking care of any debts that are likely to be a burden as other costs rise.”
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Tags: Pressure, Pressure People