Price of food and utilities top worry list for Brits

By Marianne Straker, Thu 26 Jan 2012 - Published in Home Insurance

UK consumers are more worried about the cost of utilities than they are about mortgage payments, according to new research by Moneysupermarket.com.

The price comparison website found that Brits are ten times more concerned about food, bills and petrol prices than they are about other issues such as home insurance or rent fees. A report by the site found that 43 per cent of people named rising bills as their main financial worry.

Food bills also ranked high in the list with 34 per cent of people highlighting it as a worry whereas 33 per cent blamed high petrol prices.

Despite the Council of Mortgage Lenders revealing that borrowing reached Ł37.4 billion over the past 12 months consumers are more concerned with the daily cost of living.

Clare Francis, consumer finance expert at Moneysupermarket, said: "Over the past twelve months, UK households have experienced a sharp increase in the cost of living with rising fuel, petrol and food prices having a major impact on the financial state of the nation, so it is no surprise that they make up the main financial concerns for the year ahead."

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