Incomes fall as basic costs rise


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The Independent Online

The combination of rising costs and falling incomes continued to put a squeeze on consumers in September, according to a report by Lloyds TSB.

The bank said incomes in real terms were 1 per cent lower in September than they were a year ago, while spending on essential items had risen by 3.5 per cent. The highest level of growth was in gas and electricity spending, which was 4.7 per cent higher last month.