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Prudential: Public is 'very worried' about living costs
01 September 2008
The general public is deeply concerned about rising living costs despite not experiencing any impact from the credit crunch, Prudential has said.
Keith Haggart, director of lifetime mortgages at the financial services provider, spoke about research carried out over several hundred consumers by the company.
He said that while most people said they had not seen any impact from the credit crunch, they were very concerned about the effects of increasingly expensive fuel, petrol and food.
"They say that it doesn't affect them but when you start talking about the prices, they are very worried about it," he remarked.
The Prudential study found that 46 per cent of consumers thought the credit crunch was "a concern", while 85 per cent were worried about the cost of gas and electricity and 75 per cent about the price of petrol.
According to the Office for National Statistics, the Consumer Prices Index stood at 4.4 per cent in July, compared to 3.8 per cent in June.
