Nearly 66% of adults have expressed concerns that the cost of living crisis has exacerbated over the last month, as per official data. The Office for National Statistics disclosed that energy and food expenses are still major financial burdens for individuals.
Approximately 1 in 30 adults mentioned that they or their households faced food shortages in the recent two weeks due to financial constraints. This percentage surged to 8% among residents in the most impoverished regions of England, with high impacts on renters and individuals with disabilities.
In the meantime, nearly 60% of respondents acknowledged reducing their dining-out frequency, indicating the substantial strain on restaurants and pubs striving to stay afloat. These revelations coincide with Labour’s commitment to prioritize addressing the ongoing cost of living crisis in the upcoming year, recognizing its significance to voters during the impending local elections.
Highlighting the urgency of the matter, an ONS survey demonstrated that the cost of living was the top concern for people at 88%, surpassing other critical issues such as the NHS, the economy, immigration, crime, and housing. The ONS noted that these percentages were consistent with the previous year’s findings, indicating a persistent worry among the population.
The survey period encompassed the onset of December through early December, encompassing the financially demanding holiday season. Of those surveyed, 62% noted an increase in their cost of living compared to the previous month, while 36% reported no change and 2% indicated a decrease. The escalation in costs was particularly pronounced among disabled adults.
The most common cost escalations cited were in food shopping prices (94%), energy bills (68%), and fuel costs (46%). Additionally, around 58% of respondents reported dining out less, with approximately half opting for cheaper food options to save money and 38% actively seeking discounted food products.
A significant portion of energy bill payers (approximately one-third) expressed difficulties in affording these expenses. Moreover, 17% of adults mentioned occasional struggles in maintaining a comfortable warmth level in their homes over the past two weeks.
Analyzing data over the past three months, the ONS found that 90% of women expressed concerns about the cost of living, compared to 86% of men. Notably, worries were most prominent among the unemployed demographic, but also resonated with 80% of retirees and 85% of self-employed individuals.