Commenting on the Office for National Statistics (ONS) figures published this morning which reveal that inflation fell to a new four-year low in February, Jafar Hassan, personal finance expert at Uswitch.com, says:“The inflation figures may look impressive, but are a stark contrast to the challenges facing those still struggling to make ends meet. Despite the Government’s optimism, an overwhelming number of us are yet to see any signs of economic recovery in our back pocket.
“Household bills – especially rent, childcare and energy – have continued to soar, while the average pay rise across the UK is expected to be just 1% this year. To make ends meet, people are being forced to cut back on basic essentials such as heating, food and healthcare.
“The challenge facing households to meet rising bills and living costs is by no means over. It’s our hope that the improving economy is reflected in people’s pay rises this year. In the meantime, consumers need to help themselves, by making sure that they are not paying over the odds on essential household bills.”
Charlotte Nunes
Phone: 020 7148 4664
Email: charlotte.nunes@uswitch.com
Twitter: @uswitchPR
Source: ONS - http://www.ons.gov.uk/ons/rel/cpi/consumer-price-indices/february-2014/consumer-price-inflation-summary--february-2014.html
Research was carried out online with the Uswitch.com Consumer Opinion Panel on 20th March 2014 amongst a sample of 3,813 GB adults.
Research referred to below was conducted by Opinium amongst 2,000 respondents in January 2014.
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