The Office for national Statistics delivers more depressing news that is probably not unexpected. Given all of the problems facing the country, from 7 million on NHS waiting lists to multiple crisis including housing, poverty and social care to name just a handful, the cost of living is the one that is driving the national anxiety to new levels.
The ONS states that – “The cost of living is the most important issue facing 93% of adults the UK today,” figures for November have revealed.
In the period from 8 to 20 November 2022, around 9 in 10 (94%) adults reported their cost of living had increased compared with a year ago, while a lower percentage (76%) reported an increase in their cost of living compared with one month ago.
Adults said they were spending less on non-essentials (68%), and using less fuel, such as gas or electricity in their homes (63%).
The economy was the most important issue facing the UK today for 81% of adults.
Source: Office for National Statistics (ONS) – Opinions and Lifestyle Survey
In the latest period, people living in the most deprived fifth of areas in England were more likely to be worried (very or somewhat) about rising cost of living (84%) than those in least deprived areas (70%).
And as households tighten the belt in an attempt to cope with their deteriorating household budget – a recession looms directly as a result. In turn, this is likely to cause job losses in 2023, which will only add to all these worries.