London Daily

Focus on the big picture.
Saturday, Jul 26, 2025

Inflation: Warning eight million struggling to keep up with bills

Inflation: Warning eight million struggling to keep up with bills

Some 7.8 million people in UK finding bills "a heavy burden", a watchdog warns.

The Financial Conduct Authority (FCA) estimated that 7.8 million people in the UK currently find bills a "heavy burden", up from 5.3 million in 2020.

Energy, food and fuel prices have risen sharply in the last six months in part because of the Ukraine war.

Inflation - the rate at which prices rise - increased to 10.1% last month, returning to a 40-year high.

Nicole from Gainsborough works for a university, but because of her concerns around energy bills, she often wears a blanket around her shoulders when she's working from home.

"I consider my salary to be fairly good and I work full-time, yet I'm worried about putting the heating on, using the tumble dryer, or the oven to cook," she told BBC News.

Nicole avoids putting the heating on


She has taken measures at home to try to keep costs down, like installing a smart meter.

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.

"I have no idea how we will afford it," Nicole said. "I fully appreciate there are people in a much worse position than us... but we're in a totally unexpected situation as two normal people with normal incomes, who work hard."

The FCA, which regulates UK businesses, surveyed 19,000 people between February and June and found:

*  One in four adults described themselves as being financially vulnerable, meaning they would quickly find themselves in difficultly if they suffered a financial shock

*  Some 4.2 million people had missed bills or loan repayments in at least three of the six months before the survey took place

*  27% of black respondents said they found it a heavy burden to keep up with bills, compared with around 15% of UK adults generally.

'Struggling to keep up'


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.

It is also reminding people to contact their energy provider if they cannot afford their bills, to shop around to find the best deal, and to look online for free, expert debt advice.

Energy bills rose sharply in October when the energy price cap - which limits what providers can charge for a unit of energy - increased.

The government has since limited unit prices for at least six months to protect consumers, but millions are still likely to struggle this winter.

Food prices are also surging due to disruption caused by the war in Ukraine and the weak pound, which drives up import costs.

UK food prices jumped 14.6% in the year to September - the biggest annual rise since 1980 - with the cost of key goods like fruit, milk, cereal and sugar all climbing.

Newsletter

Related Articles

0:00
0:00
Close
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×