Ian Stuart
Media playback is unsupported on your device
Video

2012 'worst year' for household finances says Deloitte

People in the UK are getting poorer every day and might be feeling the pinch for a while yet, according to economists at Deloitte.

They believe real income will not rise again until the end of next year meaning 2012 will be the worst year for household finances since 1977.

Ian Stuart, Chief Economist with Deloitte says a combination of inflation and flat wages has taken ''fire-power'' away from consumers.