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 Many people face continued financial difficulties as it looks increasingly likely that the Bank of England will not cut the base rate of interest any time soon.
Despite the troubles being experienced by many mortgage holders throughout the UK, rising inflation is likely to prevent the Bank from cutting rates and offering some relief to borrowers.
New Star has published research which shows that many people look as they may have to endure financial difficulties during the coming months.
It has shown that factory gate prices increased by 1.4 per cent in April, with the annual increase standing at 7.5 per cent.
In addition, import prices have risen by 10.3 per cent in the year to March 2008 following an increase of 1.9 per cent in the month.
Many borrowers are struggling to keep up with their mortgage repayments because the inter-bank lending rate has increased due to the global credit crunch.
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