Higher prices lead to debt problems

Britons have to pay much more for food now and train ticket prices are poised to go up – two pieces of news which are sure to test people's finances and push more towards needing debt solutions.

Research from MySupermarket.co.uk has shown that over the past three years, the price of basic grocery items has gone up by almost two-thirds (59 per cent).

Their figures show that having a baby is more likely to leave people needing debt solutions, as products like wipes, baby foods and milk have seen some of the steepest increases.

Meanwhile, there are fears that train ticket prices will go up by 8 per cent in the next year, above the usual level of RPI inflation plus one per cent.

Transport Secretary Philip Hammond has said the final figure won't be known until the autumn, but remarked that "it would be irresponsible… to rule anything out until the spending review is concluded."

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