A large number of people in the UK may be able to benefit from performing an energy comparison to find cheap gas deals in order to cut their bills.
This is because the latest Lloyds TSB Spending Power Report has found household incomes are continuing to be squeezed due to rising bills and weak income growth.
Overall, spending on essentials increased by 4.9 per cent in January compared with the previous year, with one in five people saying they have no discretionary income left over after dealing with these expenses.
This is despite falling inflation, with the Office for National Statistics stating last week the consumer price index fell to 3.6 per cent in January.
Chief economist at Lloyds TSB Patrick Foley said: "Despite recent price cuts for domestic energy, consumers are still faced with increasing spend on household bills as many cuts have yet to filter through to monthly payments."
He added as a result of this, many people have not yet felt the benefits of an improving economy, though this could change in the coming months.
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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