Household bills rising at twice the rate of inflation

3 May 2012

Posted by Kim Bardsley

Household finances are being put under pressure by bills rising at nearly twice the rate of inflation.

According to a study by Santander, the cost of monthly outgoings has gone up by 71 per cent over the past decade, while inflation has been boosted by 38 per cent.

However, Office for National Statistics figures demonstrate that salaries have only increased from 16,964 in 2001 to £21,093 in 2011.

Santander found that two-thirds of respondents to its poll are using their heating less in a bid to cut down on the use of heating oil and other fuels, while 45 per cent have become more thrifty in general.

The 19 per cent who reported having implemented green technology to make efficiency savings may be interested to hear about a new experiment in Longstanton.

Cambridge News reported that 12 houses were selected to have £320,000 worth of eco-living fittings installed for free by the government to examine their effects.

Neighbours Euan Smith and Andy Batey had a double layer of polystyrene insulation put in place and claim they have cut their bills by up to half their previous levels.

Click here for a home heating oil quote