Almost 4.5 million UK families are under serious financial difficulties

Of those in serious financial difficulty, 71% have reduced the quality of food they eat, 36% have sold or pawned possessions and 27% have canceled or not renewed insurance

The number of UK households facing acute financial strain has risen by almost 60% since October and is now higher than at any point during the coronavirus pandemic, a survey found.

The abrdn Financial Fairness Trust and researchers at the University of Bristol estimated that 16% of households, or 4.4 million, are in “serious financial difficulties” and a further 20% are “struggling” to get by.

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