Cost of living is soaring in UK.Byline: By GRAHAM HISCOTT, Deputy Business Editor HOUSEHOLDS have been hit by a pounds 200 a month cost of living increase, the Mirror has found. The price of everything from food to heating has rocketed in the past year and our research reveals the total burden. A typical family now has to find pounds 1,703.28 a month for essentials, up from pounds 1,508.99 12 months ago - a jump of pounds 194.29. The biggest rise is mortgage costs caused by the worldwide credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. . Average homebuyers are paying pounds 100 a month more than a year ago as lenders lift their rates when fixed interest deals end. Another huge outlay is petrol, with the national average for unleaded leaping above pounds 1.08 a litre LITRE. A French measure of capacity. It is of the size of a decimetre, or one-tenth part of a cubic metre. It is equal to 61.028 cubic inches. Vide Measure. this week - up more than 15p in 12 months A two-car family is spending an extra pounds 32.97 a month on fuel And we revealed this week how the cost of everyday groceries was rising six times faster than the official rate of inflation. The Government's favoured Consumer Prices Index has the cost of living up by 2.5 per cent. But basic items such as bread, milk, eggs and cheese have soared 15.4 per cent. MySupermarket.com shows a typical trolley trolley: see streetcar. of goods that cost pounds 100 a year ago is now pounds 110. Most energy bills have gone up about 15 per cent, and council tax and water bills are also higher. |
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