The abrdn Financial Fairness Trust and researchers at the University of Bristol estimated that 16 percent of households, or 4.4 million, are in "serious financial difficulties" and a further 20 percent are "struggling" to get by, Bloomberg reported.
The findings illustrate the growing toll being taken by the worst cost of living crisis in a generation. The squeeze is set to intensify in October, when another spike in energy bills is expected to see inflation top 11 percent.
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