Consumers' inflation estimates exceed government's

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Consumers' inflation estimates exceed government's

New research from Fool.co.uk has revealed that 93 per cent of British consumers disagree with the government's inflation figures.

The website's Inflation Index shows that consumers believe the actual rate of inflation is 8.1 per cent, rather than the government's figure of 2.2 per cent.

As people feel the daily cost of living rising steeply, they are questioning the government's inflation rate.

Consumers between the ages of 42 and 49 seem to have been the hardest hit, estimating personal inflation to be 8.8 per cent.

Meanwhile, those in Northern Ireland have been the least affected by the rising cost of living, putting inflation at 6.8 per cent today compared to 8.1 per cent six months ago.

David Kuo, head of personal finance at fool.co.uk, recommends that people should "revisit their budgets regularly" and suggests they may have to take "drastic action to ensure that household income comfortably exceeds expenditure".

According to a Bank of England survey released yesterday, consumers expect official inflation to hit 3.3 per cent by the end of 2008.
ADNFCR-323-ID-18510647-ADNFCR

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