Renters and young people are among those hit hardest by the soaring cost of living, according to official data. Research by the Office for National Statistics (ONS) outlined the groups under particular financial pressure in recent months amid rampant inflation and higher borrowing costs.
Inflation held firm at 8.7 per cent in May after striking a 41-year high late last year, while interest rates have been hiked to 5 per cent in an effort to drag prices lower.
