Cost of raising a child hits £150,000

iStock_000005361710_ExtraSmallRecent research conducted by the Child Poverty Action Group (CPAG), has revealed some families could face financial hardship, as the cost of raising a child, to the age of 18, has hit £150,000. The report reveals:   It now costs £148,000 to raise a child to the age of 18 The cost of raising a child has risen by 4% The value of both child benefit and tax credit fell in real terms last year Families with children are at higher risk of falling into poverty, than those ...

Rate of inflation rises unexpectedly

Both measures of inflation rose unexpectedly in July causing concern for savers, people on fixed incomes and rail passengers. The Consumer Prices Index (CPI) rose from 2.4% in June to 2.6% in July. The Retail Prices Index (RPI), which includes housing costs, rose by a larger amount, from 2.8% to 3.2%. The increases in both rates of inflation were partly down to higher air fares, which rose by 21.7% compared to last month. A lower than usual drop in clothing prices, due to many summer sales being moved forward, also contributed as did rise in housing costs. The figures from the Office for ...