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Consumers `worried over rising living costs`

01/09/2008

The general public is growing increasingly concerned over the rising cost of living in the UK, it has been suggested.

According to Keith Haggart, director of lifetime mortgages at Prudential, a survey conducted recently by the firm revealed that most consumers are worried about the effects of price inflation on their personal finances.

He said: "The vast majority [of people questioned] said they were very concerned about the effects of rising fuel, petrol and food bills."

In news that may not be welcomed by those with high levels of debt, figures produced recently by the Office for National Statistics suggested that the Consumer Prices Index stood at 4.4 per cent in July, compared with 3.8 per cent in June.

Meanwhile, the average cost of petrol rose by 1.2p per litre in July to 118.8p, while meat, bread, cereals and vegetables also saw price rises.

People concerned about their finances may wish to consider a debt consolidation loan as a means of easing the pressure of repayments.

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