London Poverty Premium Exceeds £600 for Low-Income Households

A study by Fair by Design indicates that low-income households in London face a 'poverty premium' of over £600 annually to access standard goods and services. Families in Peckham pay an average of £493 more than wealthier households for identical items, with food shopping noted as the largest driver of this disparity. Despite regulatory changes, prepayment meter users incur an additional £129 yearly compared to those using competitive fixed direct debit tariffs. This matters for markets as it highlights ongoing economic inequalities that could influence consumer spending and overall economic growth.