UK Household Spending Crippled by Energy Bills

From International Business Journal

By Shane Croucher

Bloating fuel bills drained household finances across the country as Britons made financial cutbacks across all other spending just to keep their homes lit and warm, according to official figures.

Britain’s households spent an average of £483.60 a week in 2011, reported the Office for National Statistics (ONS), a figure that has fallen every year since 2006 when it was £541.20.

Spending on fuel and power bills soared by 12 percent, pushed up by volatile energy prices in a period that saw the cost of a barrel of Brent crude oil hit its most expensive ever.

It was the only sub-category of household spending to see a rise.

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