Debt-struck consumers fearful of rising living costs
Debt-struck consumers fearful of rising living costs
Thursday 10th July 2008
According to the new Mood of Britain study conducted by advertising agency McCann Erickson, 62 per cent of consumers are worried about higher day to day living costs.
This means that more people are concerned about the increasing pressure on their finances than immigration and race relations, crime and terrorism.
News of the survey's findings comes after Britons have this year been hit by a combination of higher food bills, double-digit hikes to gas and electricity tariffs and the increasing cost of mortgages.
This week the Real Cost of Living Index, which takes into account mortgage and energy costs as well as food, rose from an annual rate of increase of 9.5 per cent to 10.3 per cent, the Telegraph reported.
Inflationary pressures are expected to worsen further as 2008 continues, with energy companies expected to announce further increases to energy tariffs in August.
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