Cost of living rises at fastest rate in 22 years

Ann Robinson, Director of Consumer Policy at uSwitch.com, reveals how you could save up to £1,400 a year on bills through a simple financial makeover.

Click play to find out how to beat the rising cost of living.

Money Saving Tips

It is now crunch time for British households as the downturn in the economy, below-inflation pay rises and the reality of having less money in our pockets begins to hit home. 

At 4.4%, inflation is now at its highest level for 11 years and with the Office of National Statistics warning that the price of food, clothes, petrol and other goods is set to climb faster than most people's salaries, things could get a whole lot worse before they get better.

Essential living costs are rising at the fastest rate since records began 22 years ago, which means families' disposable incomes are dropping at the fastest rate since the 1970s. Energy bills alone now account for a crippling £1,293 of a household's annual budget - an unprecedented 42% or £381 increase in just a year.

The reality is we are working harder than ever before, but ending up with less money in our pockets at the end of every month. However, there are ways to ease the financial burden and beat the price rises. Households could save up to £1,837 on bills and financial services by following some simple money saving tips.