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.

 

 

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.