Families see cost of living soar

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Families’ weekly outgoings have gone up by nearly £20 in a year, largely due to increased transport costs and rents.

Households were typically paying out £473.60 a week in 2010, according to the latest Family Spending report from the Office for National Statistics (ONS).

The figures, released on the same day the Chancellor makes his Autumn Statement, showed the biggest chunk of spending was taken up by transport, which accounted for £64.90 per week, up by 11 per cent or £6.50 from the previous year.

The second largest outgoings went on housing, fuel and power, which increased to £60.40.