Inflation hikes are making life “tougher”
June 20, 2008 by admin
Filed under News, News-Banking
With inflation rising higher this week than analysts predicted it would, an expert has said that the situation is making life “tougher” for many people.
According to Ann Robinson, director of consumer policy at uSwitch.com, some consumers have seen their food, energy and other essential bills increase by 20 per cent over the past year.
Ms Robinson commented that many people are feeling the pinch as living costs continue to rise yet salary increases lag behind.
“We are working harder than ever before but we are not getting any richer.”
Ms Robinson warned: “With inflation misery set to continue this summer, this is a difficult time for consumers.”
Earlier this week inflation went over three per cent and Ms Robinson advised consumers to carefully review their household budgets and try to make savings wherever possible.
She pointed out that people could save an average of £1,500 on essentials by doing so.
