Research commissioned by Which? concluded that one-third of households (34 percent) in the UK, equal to 9 million families, are now feeling financially squeezed, up 1.5 million from an estimated 7.5 million households last July.
Families are continuing to come under pressure from inflation, which surged to a 14-month high in June. Which? said that rises to costs such as food prices and energy bills mean that people are relying more on credit to get by, with an estimated 6.1 million households dipping into their savings each month on average over the last year to get by.
Families are continuing to come under pressure from inflation, which surged to a 14-month high in June. Which? said that rises to costs such as food prices and energy bills mean that people are relying more on credit to get by, with an estimated 6.1 million households dipping into their savings each month on average over the last year to get by.
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