14/08/2014 16:52 BST | Updated 22/05/2015 10:12 BST

Cost Of Raising A Child Rises To £148,000

Cost of raising a child rises to £148,000

The cost of bringing up a child has risen to £148,000.

The Child Poverty Action Group (CPAG) said that the cost of raising a child to the age of 18 has gone up by 4, and child benefit did not rise at all, tightening the squeeze on living standards.

At the same time minimum wages rose 1.8, making it harder for parents to provide a decent standard of living for their families.

Alison Garnham, chief executive of Child Poverty Action Group, said: "This research paints a stark picture of families being squeezed by rising prices and stagnant wages, yet receiving ever-diminishing support from the Government over the course of the last year."

The report, co-funded by the Joseph Rowntree Foundation, found it cost about £160 a week to raise a child, including child care costs and housing.

The basic cost for a couple to raise a child over 18 years was £81,772, or £148,105 including rent, child care and council tax, with those figures rising to £90,980 and £161,260 respectively for a lone parent.

Child care costs have risen sharply over the last 12 months - by 5.9VIRTUAL-Gallery-185900%