Brits spend £149 billion on 'lifestyle essentials'

Rukhsana Hamid/PA Wire

Following this week's announcement that UK inflation has hit 5.2%, protection specialist LV='s 'Lifestyle Inflation Index' published today reveals Brits have spent £149 billion - an average of £5,850 per household - in the last year on what they deem to be their 'lifestyle essentials'.

These include items such as holidays, nights out and take away meals - the same 'essentials' which cost £5.7 billion more than last year.