"Inflation ticked up in June, driven mainly by motor fuel prices which fell only slightly, compared with a much larger decrease at this time last year."
"Food price inflation has increased for the third consecutive month to its highest annual rate since February of last year, hitting 4.5%."
"For many households, another rise in inflation will be unsettling, when finances are already stretched to cover the basics."
"Short-term, affordable credit can be a vital safety net when those unplanned costs hit, and our focus is helping people stay afloat."
UK consumer price inflation reached 3.6% in June, rising from 3.4% in May. This increase poses challenges for households already facing financial pressures. The Bank of England forecasts inflation to hit 3.7%, exceeding its 2% target. Food prices saw their highest annual increase in over a year, reaching 4.5%. The economic situation creates a need for affordable credit options to assist individuals with rising living costs, as wages and savings have not kept pace with escalating expenses.
Read at London Business News | Londonlovesbusiness.com
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