Lloyds lays bare impact of soaring inflation on everyday customers

Families spending on average 89 more a month on energy, food and fuel than before pandemic, says bank

Families are spending an average of 89 more a month on energy, food and fuel than they were before the pandemic, Lloyds Banking Group said in a financial update, as it laid bare the impact of surging inflation on everyday customers.

Lloyds' chief executive, Charlie Nunn, said about 20% of the bank's customers had had to adapt their spending significantly" to rising prices, forcing them to refrain from purchases such as white goods and computers.