Following news that UK families were £5 a week worse off than they were a year ago (see ERTonline August 23), another report has confirmed the pressure on household finances.

Market researchers Markit and YouGov’s Household Finance Index revealed that people are increasingly worried about the high cost of living and of losing their jobs.

Nearly 69 per cent of those questioned said the price of goods and services had risen between July and August – the highest level since the survey began 18 months ago.

“Stronger growth in the UK economy has done little to put a floor under the downturn in household finances,” said Markit economist Tim Moore.