Prudential: People are not impacted by credit crunch, but "very worried" about rising bills

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Prudential: People are not impacted by credit crunch, but "very worried" about rising bills

Mon 1st Sep 2008

UK consumers are very concerned about rising living costs, despite not reporting any impact from the credit crunch, according to Prudential.

Keith Haggart, director of lifetime mortgages at the financial services provider, said that the organisation had polled several hundred consumers for research purposes.

He said that the majority of respondents said they had not experienced any impact from the credit crunch.

But he added that consumers were "very worried" when questioned about the rising costs of fuel, petrol and food.

The average price of petrol rose by 1.2 pence per litre in June, according to data from the Office for National Statistics.

Bread, meat, cereals and vegetables also all rose in cost.

According to the Nationwide Consumer Confidence Index, consumer confidence fell by 11 points to 51 in July.

Overall confidence was 18 per cent lower than in June and 46 per cent lower than at the same point in 2007, making it the largest drop on record.

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