Stark Reality of Inflation

Stark Reality of Inflation

20th May 2022

Inflation rise shows stark reality of cost of living crisis

Citizens Advice Scotland has reacted to today’s inflation rate increase from 7% to 9%.

CAS Financial Health spokesperson Myles Fitt said,

“These latest figures show the harsh reality of the cost of living crisis, which is squeezing household budgets to breaking point across the country.

“Prices are going up as wages and incomes are stagnant or falling, so people are faced with a perfect storm that risks sweeping tens of thousands of households across Scotland into poverty, debt and destitution.

“We want to see more from policymakers to ease this crisis for people, but in the short term I’d recommend anyone struggling with the cost of living to seek advice from the Citizens Advice network. Whether that’s by visiting your local Citizens Advice Bureau or accessing our online resources like our public advice website.

“CAB advice is free, impartial and confidential. We can check to see if you are missing any social security payments or grants that you don’t know about, and we can also negotiate with your creditors to see if they will let you re-structure your payments.

“Last year the Scottish CAB network unlocked a total of £147 million for people who came to us for help. The average value of those gains was over £4,400, which could be simply life-changing money for people. So, contact us today and ask for a financial health check or go to our self-help website www.moneymap.scot”