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Economic forecasts and abstract percentages don't mean a great deal to most people. What they notice is how much - or how little - money is left at the end of the week. An average family of four faces an increase in their spending on food and groceries from 拢396 to 拢439 per month, according to the Institute of Grocery Distribution which provides analysis to major grocers.

Nick Robinson reports from Holy Family Catholic Primary school in Armley, Leeds which is one of the poorest parts of the city, on how this is that shaping the choices parents have to make. Also on the programme was Saleem Shafi, the deputy chief executive of 'MoneyBuddies' an independent financial advice service based in West Yorkshire.

(Image Credit: Press Association)