INFOGRAPHIC: How have your household bills changed?
According to the comparison site sharp increases in the price of energy, broadband service and petrol are more than outweighed by savings on car and home insurance, variable mortgage rates and other bills. The average Brit spends £70 less on household bills each year than they did before the 2010 general election.
Simon McCulloch, director of insurance at comparethemarket.com, said: “The results of our research do not necessarily represent a resounding victory for the Coalition. Costs have come down in areas where there is most competition in the market – such as motor insurance, where the benefits of shopping around are widely recognised.
Consumers have become savvier over the past four years, using the internet and tools such as price comparison sites to shop around for the best prices. But more can be done and the energy and broadband markets in particular still have a long way to go before they can be regarded as truly competitive.”