Alliance & Leicester: Rising prices hit Brits' purses

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Alliance & Leicester: Rising prices hit Brits' purses

Fri 23rd May 2008

Alliance & Leicester has found that 73 per cent of Britons are making financial cutbacks, as they start to feel the pinch of rising food and fuel prices.

According to its research, one third of UK residents expect their disposable income to decrease over the next few months, primarily due to the increased cost of consumer goods, food, household bills and petrol.

Some 39 per cent of respondents in the bank's survey reported that they will be cutting back on clothes shopping, while 36 per cent are planning to limit their socialising.

Emma Walkley, current account manager at Alliance & Leicester, said: "It seems many of us are feeling the pinch and looking for ways to cut back. The good news is that people are taking action now and looking at ways of making their money go further rather than burying their heads in the sand."

Earlier this month the Office of National Statistics announced that consumer price index inflation had risen to three per cent.

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