Majority in UK suffering under financial cosh

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They reported their household budget was under pressure from unrelenting price hikes this month. That compares to 62 percent in November, the Office for National Statistics said. Food, fuel, clothes, travel and household bills have all been rising steadily, with inflation now running at 6.2 percent, its highest level for 30 years. From Tuesday – April 6 – National Insurance will also jump by 1.25 percentage points to pay for the new social care system.

Meanwhile, prices are increasing for water, broadband and phone packages as well as milk and beer.

And from tomorrow, the energy price cap is lifted which will see gas and electricity costs rocket. Among those feeling the squeeze, more than half of the 13,030 people questioned said they are cutting back on non-essentials.

Thirty-six percent are shopping around more, 34 percent are using less gas or electricity at home and 31 percent are spending less on food and essentials.

ShopAppy founder Dr Jackie Mulligan said: “The Government seems completely out of touch with the reality of how hard the cost-of-living crisis is hitting people and the level of anxiety it is causing.”

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