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Energy prices drive rise in cost of living - 26/01/2012

Many people may like to perform an energy comparison in order to switch gas provider if they find the cost of fuel is having an impact on their lives.

The latest Asda Income Tracker reveals the typical UK household had £160 a week of disposable income in December, a drop of 7.2 per cent compared with the same month in 2010.

Energy costs were cited as one of the main reasons for this, as it was noted electricity prices increased by 14.1 per cent year-on-year, while gas bills rose by 19.8 per cent.

Other contributors to the fall in spare income included a rise in unemployment, poor wage growth and additional costs for other necessities such as petrol.

However, annual consumer inflation did slow to 4.2 per year compared with the previous month, which could help ease the pressure on household spending power.

Recently, senior policy advocate for sustainability at Consumer Focus Liz Laine suggested more people will look to reduce their energy consumption in 2012 in an effort to get cheaper bills.

If you want to find out more about switching energy suppliers and how you could save up to £389 in minutes, click here.

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