British households facing alarming cost-of-living crisis as inflation soars

London

BRITAIN is currently facing the worst squeeze in living standards since the 1970s, with wages largely stagnant in the face of soaring inflation.

Jack Leslie, a senior economist at the Resolution Foundation, an independent think-tank focused on improving the living standards of the low-to-middle income groups, said that, on average, the lowest income families spend twice as much on food and housing bills as the richest families.