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Half the population "worse off than last year"

22/08/2008

The credit crunch has struck the majority of people in the UK, with over half of Britons believing they are financially worse off than this time last year.

A poll, carried out in Leeds city centre, found 53 per cent were feeling the pinch.

Jean, aged 44, said: "I`m worse off because my salary hasn`t risen in line with inflation."

People experiencing circumstances like Jean`s may be worried about debt problems arising from the increased cost of living. Debt advice is available if it is required.

Just under 27 per cent said they had felt no real difference due to the credit crunch and over 19 per cent said they were better off, but Caroline, 31, said she noticed groceries such as bread and milk have become more expensive.

Jawad, aged 29, said he had started a new job as a doctor but said: "If I had a different job then I`m sure it would be a different matter."

This month, the Office for National Statistics revealed the Consumer Prices Index was 4.4 per cent in July, rising from 3.8 per cent in June.

Some Scottish house prices still rising 20/11/2008 - Amidst economic gloom and high levels of personal debt, house Energy suppliers’ biggest profits ‘from poor’ 20/11/2008 - Consumer Focus, the new consumer watchdog, has claimed that energy Rise in bankruptcies and IVAs 20/11/2008 - There were 27,087 individual insolvencies in the third quarter of Supermarket price rises ‘far above inflation’ 20/11/2008 - The latest inflation report from the Office for National Statistics