UK Households need to find an extra £32 billion

Due to the latest annual CPI inflation rate rising to 3.5%, MGM Advantage, estimates that collectively UK households will need to find an extra £32 billion to maintain the same standard of living enjoyed 12 months ago.  For households where the main occupant is aged 65 -74, the corresponding figure is £2.72billion and where they are aged 75 and over, it is £1.76 billion. To maintain the same living standards as a year ago, the UK would need to spend an estimated additional £509 per person.

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