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Home Finance Cost of living crisis continues as people go without food and heating

Cost of living crisis continues as people go without food and heating

by Uma Rajagopal
cost of living

 

  • Around 1 in 11 (9%) adults reported they had often or sometimes run out of food and could not afford to buy more in the past month.
  • Around a third (34%) said increases in the cost of living had negatively affected their mental health.
  • Around a fifth of adults reported that they were occasionally, hardly ever, or never, able to keep comfortably warm in the past two weeks.
  • Around half of adults reported that in the past two weeks they were buying less when food shopping (50% in the latest period, 49% in the previous period).

The ONS has published the latest Impact of Winter Pressures data Tracking the impact of winter pressures in Great Britain – Office for National Statistics (ons.gov.uk)

Helen Morrissey, head of retirement analysis at Hargreaves Lansdown:

“This data lays bare the awful impact the cost-of-living crisis is having on our lives with people struggling to put enough food on the table or keep warm. The soaring costs of these most basic of items – food and fuel have put our budgets under immense pressure and as well as taking a toll on our physical health, it is having a clear impact on our mental wellbeing too.

There are signs that inflationary pressures are starting to ease but that won’t bring respite any time soon – food inflation remains eye-wateringly high at over 16% and it will take some time before we see any decrease in our energy costs. For pensioners on a low, fixed income, this raises a real risk people will go without food or heat. This isn’t just incredibly difficult to live with, it could also exacerbate health conditions. The good news is that, as we move out of Winter into Spring, our heating and lighting needs will start to lessen which could start to bring down costs as we go through the year. However, for those who are still barely clinging on financially they continue to have a tough few months ahead.”

 

 

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Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.