July 24/London/Telegraph -- Four in 10 Britons will be forced to cut back on spending on food on the coming months as households experience the tightest squeeze in living standards since the 1920s, research by Which? has revealed.

The consumer group found that many consumers are “clinging to the edge of a financial cliff” with savings at “rock bottom” and “sky high” personal debt levels.
As well as cutting back on food, people are foregoing other expenses such as holidays and going out. Six in 10 people are cutting back on holidays, while a similar number are socialising less than they used to in order to save money.