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Consumers `expect price rises`

11/05/2009

A new survey has suggested that consumers expect prices to rise, despite official data showing that prices are easing, reports The Financial Times.

The survey of 2,000 consumers, carried out for Lloyds TSB Corporate Markets, found that the balance of consumers expecting prices to rise over the next year rose by 8 points to 43%. It was the fourth consecutive monthly rise.

This comes despite official data showing that price growth has eased in recent months, with annual CPI (Consumer Prices Index) inflation falling to 2.9% in March from 3.2% in February - and RPI (Retail Prices Index) inflation falling below zero for the first time since 1960.

A spokesperson for Debt Advisers Direct said: "The results of the survey suggest a cautious attitude amongst consumers, which could benefit them in this difficult time for the economy.

"It`s hard to tell which way prices will go in the coming months, so it`s advisable that people are careful with their finances and avoid getting into debt where possible in order to ensure they are prepared for the future."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according