- Tuesday, 23 February 2010IVA advice may be needed by some homeowners following reports that price increases for goods and services are surpassing income growth.
Research by Markit Economics and YouGov reveals that Britons finances continue to come under pressure due to the rapid pace of inflation.
Almost 60 per cent of households said prices for goods and services had increased during February, and a third claimed to be pessimistic about their personal finances over the next 12 months.
Tim Moore, an economist at Markit, said the survey highlighted the fact that UK household finances are still deteriorating despite the end of the recession.
"With household spending falling again, the latest data suggest that weak final domestic demand could limit the recovery in the wider economy," he said.
A recent F&C Investments study revealed that over half of Brits aged 35 to 45-years-old are struggling with their finances.
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