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Asda: Cost of living on the up

The cost of living is rising in the UK, new figures from Asda show.

Householders are being squeezed by mortgage, credit cards and personal loan repayments on one hand - and more costly utilities and food on the other.

The Centre for Economics and Business Research (CEBR), which conducted the study for the supermarket, found that living costs rose by five per cent in January.

This leaves the average household with just £138 to spend after meeting all essential costs.

As well as being £5 per week down on the previous month, this figure has also dropped by three per cent, year on year.

This is despite overall earnings increasing by almost four per cent across the period.

Overall, households were found to have an average £653 of income each week during January.

Of this total, around £127 was paid out in tax - and around £97 on essential items such as food.

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