Sarah Pennells comments on UK inflation figures
Sarah Pennells, Consumer Finance Specialist at Royal London, comments on the inflation figures released this morning:
"The increase in UK inflation figures reported for July will be concerning for people hoping for a period of relative financial calm, following last week’s Base Rate reduction to 5%.
"We know from our latest Financial Resilience Report data that almost a fifth of people (19%) find themselves overdrawn, either regularly or from time to time, while the same number have less than £100 in cash savings. This is a worrying picture, and against this backdrop, the news that prices have increased at a faster pace once again is a clear reminder that while the cost of living crisis may be receding, high costs and bills are not."
For further information please contact:
Nicki Parry, PR Manager
- Email: nicki.parry@royallondon.com
- Mob: 07919 170 043
Notes to editor
Research conducted by YouGov for Royal London. All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 4,018 adults. Fieldwork was undertaken between 22 February - 7 March 2024. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).
About Royal London
Royal London is the UK's largest customer-owned life, pensions, and investment company, and one of the top 30 mutuals globally*. With over 160 years of heritage and no external shareholders, we're able to take a long-term view, focusing on supporting better outcomes for our customers.
Today, Royal London looks after 8.4 million life and pension policies, with £212 billion of assets under management and over 5,000 colleagues**. In 2026, we shared £199 million of our profits with approximately 2.4 million eligible customers.
We invest in partnerships that reflect our values, including being the only Founding Partner of the first British & Irish Lions Women's Team, supporting women's and girls' rugby across grassroots and elite levels to help develop the next generation of players and coaches. All driven by our commitment to doing what's right for our customers.
Royal London works for you.
Discover more at royallondon.com.
*Based on total 2024 premium income. International Cooperative and Mutual Insurance Federation Global data, 2026.
**Figures quoted are as at 30 June 2026.
