Prudential: Consumers worried about credit crunch

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Prudential: Consumers worried about credit crunch

A mortgage expert at Prudential has asserted that many consumers across the UK are concerned about the increasing cost of bills, petrol and fuel.

Keith Haggart, director of lifetime mortgages at the financial services firm, asserted that the effects of the credit crunch are being felt on a widespread basis.

He explained that consumers are most concerned about rising prices, with petrol food bills and fuel cited as the main worries for the "vast majority" of people.

And while initial research found that people claimed they were not impacted by the credit crunch, when questions about specific rising costs - such as electricity were posed - different concerns began to emerge, Mr Haggart said.

"They say that it doesn't affect them but when you start talking about the prices, they are very worried about it," he explained.

During the 12 months leading up to July 2008, consumer confidence has dropped from 94 points to 51 points.ADNFCR-323-ID-18755236-ADNFCR

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