Watchdog says eight million struggling with bills
Almost eight million people are struggling to pay their bills as living costs surge, a watchdog has warned.
Inflation - the rate at which prices rise - increased to 10.1% last month, returning to a 40-year high. But another worry is that the fixed-rate mortgage she has with her husband will be coming to an end in 12 months, and rates have risen sharply. 27% of black respondents said they found it a heavy burden to keep up with bills, compared with around 15% of UK adults generally.Sheldon Mills, executive director of consumer and competition at the FCA, said the watchdog had urged firms to work with customers struggling to make payments.
The government has since limited unit prices for at least six months to protect consumers, but millions are still likely to struggle this winter. This is just the first taste of what's to come from this survey when the full report is published next year, but it's significant for a couple of reasons.
Danmark Seneste Nyt, Danmark Overskrifter
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