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Which? poll says many 'borrowing money for food' Which? poll says many 'borrowing money for food'
(about 9 hours later)
One in five UK households borrowed money or used savings to cover food costs in April, a Which? survey says.One in five UK households borrowed money or used savings to cover food costs in April, a Which? survey says.
It suggests the equivalent of five million households used credit cards, overdrafts or savings to buy food.It suggests the equivalent of five million households used credit cards, overdrafts or savings to buy food.
The consumer group runs a monthly insight tracker survey focused on spending and behaviour - 2,000 people took part in its poll. The consumer group tracks the spending habits and behaviours of 2,000 people every month.
Which? executive director Richard Lloyd described the findings as "simply shocking". Which? boss Richard Lloyd described the findings as "shocking". The government said tax and benefit changes meant working households were now better off.
The figures come despite official statistics last week showing that personal insolvencies have dropped to their lowest levels in five years. The figures come despite official statistics last week showing that personal insolvencies had dropped to their lowest levels in five years.
Of the households covered by the Which? survey, 43% were headed by people between 30 and 50, and just under half had incomes under £21,000. The Which? monthly tracker involves researchers interviewing a cross-section of the population online. The results can then be filtered by age, income, gender or region.
The research found that 55% of those using credit to do weekly shopping planned to cut back on food in the coming months, with almost a third saying they had to borrow from friends or family in order to make ends meet. Results showed that of the households who resorted to using credit or savings to pay for food, most were low income families. Among this group:
The study also found that one quarter of people said that they were living comfortably on their incomes and that more than one third - 36% - felt their finances were under pressure. A typical weekly food bill averages about £76, Which? researchers said, up 4% on last year.
'Breaking point' Of all the people polled, the research showed:
Almost one third - 31% - of those surveyed cut back spending on essentials last month, and they were most likely to be women aged between 30 and 49. 'Mixed economic picture'
Mr Lloyd said: "Our tracker shows that many households are stretched to their financial breaking point, with rising food prices one of the top worries for squeezed consumers. Mr Lloyd, Which? executive director, said: "Our tracker shows that many households are stretched to their financial breaking point, with rising food prices one of the top worries for squeezed consumers.
"It's simply shocking that so many people need to use savings or credit to pay for essentials like food.""It's simply shocking that so many people need to use savings or credit to pay for essentials like food."
A spokesman for Oxfam said that millions of people were under pressure from a combination of rising prices and stagnant incomes - with their problems added to by cuts to services and safety nets. BBC business correspondent Joe Lynam said the economic picture in Britain was decidedly mixed these days.
"It's true that millions are at what Which? describes as 'financial breaking point', yet retail spending is growing, as are house prices, while the number of people in work is at a record high."
He added that average real incomes in Britain had fallen to the same levels as a decade ago because salaries were not rising but the cost of living was.
"The good news is that the economy is recovering, albeit at a glacial pace. The bad news is that it's not happening quickly enough for millions who are genuinely struggling to make ends meet," he said.
A spokesman for Oxfam said millions of people were under pressure from a combination of rising prices and stagnant incomes - with their problems added to by cuts to services and safety nets.
Mary Creagh, Labour's shadow environment secretary, said the UK was facing a "growing epidemic of hidden hunger".
"Families face a cost of living crisis and are being forced into debt or to use their savings simply to put food on the table.
"This incompetent government needs to wake up to the human cost of their failed economic policies and change course now," she added.
A government spokesman said nine out of 10 working households would be better off as a result of last month's changes to the tax and benefit system - with the average working household better off by more than £300 a year.
"The economy is healing: the deficit is down by a third, over 1 million private sector jobs have been created and interest rates remain low," he added.