Consumers in Scotland perceive inflation to be over eight per cent, as their debt problems continue to rise, new research has uncovered.
A study by Fool found that 93 per cent of Britons disagreeing with the government`s inflation figure of 2.2 per cent, with consumers in Scotland estimating inflation to be at 8.4 per cent.
Rising levels of personal inflation are being felt in the wallets of many consumers around the UK, with those in the east of England estimating the pound in their pocket is shrinking by 8.5 per cent a year, while in Northern Ireland the guess is 6.8 per cent.
David Kuo, head of personal finance at Fool, said: "The government can boast as much as it wants about its success over controlling inflation. However, people feel inflation through the shrinking pound in their pockets; they don’t experience it through a theoretical government shopping basket."
Last week, chancellor Alistair Darling stated that the government`s target for inflation is two per cent.
