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The Independent UK
The Independent UK
Josie Clarke

UK households dip into savings amid struggle with cost of everyday essentials

Confidence in the future of household finances has also hit its lowest level since April last year, falling five points to minus 15 - (PA Archive)

Almost half of UK households are struggling with the cost of everyday essentials, a new survey suggests. The latest Which? Consumer Insight Tracker found 49 per cent of households are being forced to dip into savings, sell possessions, or take other measures to cover these costs.

The survey also found confidence in the future of the UK economy plummeted by 13 points to minus 56 in the month to 13 March, the lowest level recorded since the end of 2022. The watchdog said the score reflected "a deep-seated pessimism across the country", with 67 per cent of UK adults now expecting the national economy to worsen over the next 12 months, while just 12 per cent think it will improve.

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