More than 2.6m householders struggling to pay bills, new survey finds

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The numbers of householders in Great Britain struggling to pay their monthly bills has increased dramatically according to the results of a new survey.

Conducted by financial services company Legal & General, the "Moneymood Survey" found that around 2.6 million people were facing hardship because they didn't earn enough to keep on top of their bills. Increases in the costs of utilities - such as gas and electricity prices - have left people struggling.

This figure represents an increase of 756,000 - compared to the 1.9 million highlighted in a similar survey conducted last year (2013).

The average shortfall encountered by these households was also found to have increased by more than 50 per cent in a year - rising to £85.

Legal & General's survey results come despite a recent fall in inflation - currently 1.9 per cent.

Chief executive officer for Legal & General Assurance Society, John Pollock, commented on the findings of its Moneymood Survey.

He said: "Despite January inflation falling below two per cent for the first time in 10 years, our survey shows we are not yet seeing any strong signs of recovery in household finances.

"Gas and electricity costs are not yet showing signs of coming down and this may be a key factor in holding back improvement of household finances.

"The ONS (Office for National Statistics) reported that the cost of gas and electricity has been one of the largest contributors to inflation over the last 27 months," he added.

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