More than two-fifths (42%) of people predict their finances will worsen over the next three months, according to a wealth and wellbeing tracker by LV=.
A similar proportion (44%) of the 4,000 people surveyed across the UK in March said their finances had already deteriorated over recent weeks and more than half (58%) said their total monthly outgoings have now increased.
People over State Pension age were found to be particularly likely to say their spending has gone up as nearly two-thirds (65%) of retirees said their supermarket spend has increased in the past three months. State Pension and some other benefits are uprated by 3.1% in April, but inflation could hit a 40-year high of 8.7% in the fourth quarter of 2022, according to the Office for Budget Responsibility (OBR).
