Nearly 66% of adults have experienced a worsening cost of living crisis in the past month, according to concerning official data. The Office for National Statistics revealed that energy and food costs continue to be significant burdens on people’s finances.
Approximately 1 in 30 adults admitted to running out of food in the last two weeks due to financial constraints, with the figure rising to 8% among residents in the most deprived areas of England, as well as being notably high among renters and individuals with disabilities.
In addition, close to 60% of respondents indicated that they are reducing their spending on dining out, highlighting the immense pressure on restaurants and pubs struggling to stay afloat. These findings coincide with Labour’s commitment to prioritizing the relentless cost of living crisis in the upcoming year, recognizing its impact on voters, especially as local elections approach.
The ONS survey emphasized that the cost of living is the top concern for the majority of adults (88%), surpassing other pressing issues such as the NHS (86%), the economy (71%), immigration (60%), crime (58%), and housing (55%). The survey results remained consistent with the previous year, indicating a sustained focus on economic challenges.
Conducted between early December and the beginning of December, encompassing the holiday season, the survey revealed that 62% of respondents observed an increase in their cost of living compared to the previous month. The survey also highlighted that disabled adults were more likely to experience heightened financial strain, with 70% reporting a deterioration in their living expenses.
The most commonly reported rising costs included food shopping prices (94%), energy bills (68%), and fuel costs (46%). Additionally, a significant portion of respondents stated that they are cutting back on dining out, opting for cheaper food options, and actively seeking discounts to save money.
Furthermore, a notable portion of individuals expressed difficulty affording energy bills, with about one-sixth of adults reporting challenges in maintaining comfortable warmth in their homes. Gender-wise, the survey indicated that 90% of women and 86% of men are concerned about the cost of living, with heightened worries among the unemployed, retirees, and self-employed individuals.
These findings shed light on the increasing financial struggles faced by many individuals, urging a closer examination of policies and support mechanisms to alleviate the burden of the cost of living crisis.