Nearly 66% of adults have stated that the cost of living crisis has deteriorated for them in the past month, as per official data. The Office for National Statistics highlights that energy and food costs continue to be major financial burdens for individuals. Approximately 1 in 30 adults have reported running out of food in the last two weeks due to affordability issues, with the percentage rising to 8% in the most deprived regions of England, as well as among renters and the disabled.
Moreover, nearly 60% of respondents have indicated cutting back on dining out, underscoring the significant strain on restaurants and pubs struggling to survive. The Labour Party has pledged to prioritize addressing the ongoing cost of living crisis, recognizing its impact on voters ahead of local elections. The ONS survey underscores that the cost of living is the top concern for 88% of people, surpassing other issues such as the NHS, the economy, immigration, crime, and housing.
The survey period, spanning from early to mid-December, coincided with the holiday season, adding further financial pressure on households. Results show that 62% of participants experienced an increase in living expenses compared to the previous month, with the trend more pronounced among disabled adults. Rising costs have been predominantly observed in food shopping prices (94%), gas/electricity bills (68%), and fuel prices (46%).
Additionally, strategies to cope with financial strains include reducing dining out (58%), opting for cheaper food options to save money, and actively seeking discounted food products. A significant portion of energy bill payers (33%) find it challenging to afford these expenses, while 17% struggle to maintain a comfortable warmth in their homes. Notably, women express higher concerns (90%) about the cost of living compared to men (86%), with worries prevalent among unemployed individuals, retirees, and self-employed persons alike.