Sarah Pennells comments on the rise of inflation

Commenting on the latest ONS inflation figures, Sarah Pennells, Consumer Finance Specialist at Royal London said:

"December marked only a temporary reprieve from rising inflation and while the cost of living crisis may have eased, many people are still facing tough times financially. Royal London cost of living research shows that almost nine out of ten adults are worried about rising energy costs and just over eight in ten about higher food bills.   

"If inflation continues rising as forecast this year, it could put the most vulnerable at further financial risk. One in ten adults currently say they couldn’t afford any unexpected bill - no matter how small - from either their savings or income. With wholesale gas prices recently reaching their highest level for two years, many will be concerned about consumer energy prices and this inflation data will only increase anxiety about everyday costs such as energy bills."