Cost of living crisis leaves 1 in 4 families struggling to pay bills

NINE in ten Britons are reporting higher living costs with surging food, energy and petrol bills, figures revealed yesterday.

Around one in four households found it ‘very difficult or difficult’ to cover essential bills last month. At the same time, 43 per cent said it was ‘very or somewhat difficult’ to pay for gas and electricity.

The Office for National Statistics figures suggest that families, pensioners and others were already under pressure before energy price hikes and national insurance increases took effect this month.

The ONS said the most common reasons blamed for the squeeze were food prices (88 per cent), gas or electricity bills (83 per cent), and petrol and diesel (77 per cent). Dr Jackie Mulligan, an expert on the Government’s High Streets Task Force, warned the figures pointed to ‘nothing short of a national emergency’.

Meanwhile, supermarket giants Asda and Morrisons are promising tens of millions of pounds in price cuts as they bid to hang on to customers in the crisis.

Asda said it is slashing the price of over 100 staple products by 12 per cent on average. Morrisons is reducing more than 500 products – many by 13 per cent.