Families face £100-a-month budget shortfall as UK ‘heads to recession’

The Metro says families face being left around £100 per month short of what they need to cover their spending as prices rise faster than incomes amid the cost of living crisis.

Families face £100-a-month budget shortfall as UK ‘heads to recession’

The Metro says families face being left around £100 per month short of what they need to cover their spending as prices rise faster than incomes amid the cost of living crisis.

A report by the Yorkshire Building Society estimates that average weekly incomes could increase to £680 by 2024 – but average weekly household spending may reach £705 amid record-high levels of inflation.

This projected gap adds up to a shortfall of around £100 per month.

It comes as experts predict the UK will fall into a recession this year, with around 1.5 million families struggling to pay for food and bills.

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Read More:

https://metro.co.uk/2022/05/11/families-face-100-a-month-budget-shortfall-16621968/

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