UK Money News
24th December 2007
Seasonal low 'worsened by jobs data'
British consumers have become increasingly concerned about the prospect of rising prices and losing their jobs as Christmas approaches, according to the latest personal finance news.
A study by Lloyds TSB Corporate Markets found that more people across the UK are now feeling the pressure of rising prices than has been the case since its research effort began three years ago.
Millions of consumers across the country are already in need of help with money and close to three-quarters are convinced that high street prices have been higher this month than was the case in December 2006.
Trevor Williams, chief economist at Lloyds TSB Corporate Markets, commented: "The slump in confidence over job security, coupled with the pressure of rising prices,does not bode well for the new year.
"This combination could dampen consumer spending and have a knock-on negative impact on the housing market."
Earlier this month, the Bank of England opted to cut the base rate of interest by a quarter-point to 5.5 per cent after having increased the rate five times since August of last year.
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