A large number of people in the UK may be forced to dip into their savings in order to pay for expenses such as gas and electricity.
The Daily Mirror reported more than ten million people have been forced to do this, despite the Office for National Statistics recording a drop in inflation this week.
Although the consumer price index has fallen to 3.4 per cent in February, increases in energy bills have far outpaced this.
Over the last year, gas prices have risen by 17.2 per cent, while electricity has seen a hike of 10.1 per cent over the same period.
Owen Smith, Labour's shadow Treasury minister, said: "The cost of living is still rising much faster than the government's target rate."
Recently, the publication reported people in the UK owe more than £580 million in energy debts.
Make sure you're not paying too much for your energy - compare gas and electricity prices now at energyhelpline.com or call 0800 074 0745