The proportion of household budgets spent on fuel has halved in 50 years, according to a new report.

According to the Office of National Statistics' Family Expenditure Survey, the amount of household budgets allocated to fuel and power has fallen from six per cent to three per cent since 1957.

Coal was the largest single fuel item in 1957, while gas and electricity occupy that position in 2008.

Meanwhile, food and non-alcoholic drinks have fallen from representing a third of household budgets to 15 per cent of total expenditure, while housing costs - including mortgage payments - are the single largest items, representing 19 per cent.

Tim Wolfenden, head of home services at uSwitch.com, asserts that more people may look to switch fuel providers due to energy price hikes implemented recently.

And Iain Wrenshall of Debt Help UK advises that people finding bills difficult to pay may be interested in debt consolidation loans.
ADNFCR-1287-ID-18444605-ADNFCR

Request a Callback

Fill in your details and we'll call you back