Millions of families across UK see disposable income squeezed now for a year, according to official figures

Millions of households are having to cut back due to soaring inflation

(Picture: PA Wire)

Millions of families across Britain have seen their disposable incomes squeezed for a year as the cost-of-living crisis grows, according to official figures.

They showed that real household disposable income fell by 0.2 per cent in the three months to March.