BASIC goods and services for a typical family with two young children are about £400 a month more expensive than they were last year, new data suggests reports the BBC.
Energy prices added about £120 to families’ monthly costs as price caps rose and cheap tariffs ended.
Pay is rising more slowly than prices, forcing many families to make tough spending choices.
The data from Loughborough University is based on what focus groups deem a minimum acceptable standard of living.
As well as the essentials needed to survive, like food, rent and heating, the budgets include things the focus groups believe are needed to take part in society, such as internet access, school trips and an annual family holiday in the UK.