The average household in China has four times more savings than the average household in the UK, new research shows. According to Lloyds TSB, the typical British household has £5,000 in savings and investments. This compares to over £19,000 in China. German households, meanwhile, have average savings of almost £9,000. The bank said that the [...]
Consumers in England and Wales will pay an average of 5.7%, or about £20 more, for their water bills in 2012-13 following charge increases announced by the economic regulator of the water and sewerage industry, Ofwat. But Southern Water, which is installing meters in all its customers’ homes after Kent, Hampshire and Sussex were designated [...]
Cash-strapped families could save up to a third off their weekly grocery bills if they replace fresh fish, meat and vegetables with frozen equivalents, research shows. The research, by Sheffield Hallam University, showed that a basket of frozen family groceries cost just £15.45, whereas the same items bought fresh would cost £23.25. By opting for [...]
Online retail sales increased by 14% last year to more than £50bn, with predictions that the growth will continue to hit high streets, according to a new report. Shopping comparison website Kelkoo predicted a similar increase this year, well above the expected 3.65% rise in total retail sales. Online shoppers spent an average of just [...]
Increasing numbers are cutting back on their food spending to help cover their rent or mortgage costs. Shelter said that the figure is a 44pc rise since 2008, as people have had to cut back on essentials to cope with the squeeze on their incomes, the charity said. Just over one in five people surveyed [...]
UK inflation dropped sharply in December, with the biggest one-month fall in the consumer prices index since April 2009. CPI fell to 4.2%, from 4.8% in November, according to the Office for National Statistics. This was in line with expectations. It is now at the lowest level since June last year, with CPI reaching a [...]
Energy company E.On is to cut its standard electricity prices by 6%, from Monday 27 February. It becomes the fifth of the big six energy companies to announce price cuts for either gas or electricity in the past few days. E.On said it too was responding to a recent dip in wholesale energy prices. It [...]
Energy giant npower has announced it is to cut its gas prices by 5% from the beginning of February. The cut will apply to all customers on standard and capped tariffs. It comes after similar moves by rivals to lower energy prices. Britain’s biggest energy supplier British Gas said it would cut electricity prices, effective [...]
Energy companies British Gas and SSE both cut prices in the wake of EDF’s move on Wednesday – but consumer groups say the cuts still go “nowhere near” cancelling out earlier price hikes. The price cuts will bring relief to cash-strapped consumers, the energy giants say. British Gas has cut electricity bills for more than [...]
Britain’s “big six” energy suppliers received over four million complaints from customers over the past year, according to new research from Which?. The consumer champion found that 90% of grievances against power firms were not taken to the energy ombudsman and that tens of thousands of complaints remained unresolved after eight weeks. Which? estimates that [...]
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