Great Britain: Cost of Living Rises, a Survey by The Office of National Statistics Reveals.
London, Tuesday, 26 April 2022
According to a study released by the UK's Office for National Statistics (ONS) on Monday, over nine out of ten respondents, or 87 percent, reported an increase in their cost of living in March compared to the previous month.
The ONS said in a statement that this ratio is up 25 percentage points from about six in ten adults, or 62 percent, in November 2021.
In March of this year, nearly four out of ten people (43%) said it was difficult to pay their energy costs, while 23% said they had trouble paying their household payments.
"In comparison to a year ago, higher energy and housing prices have resulted in more persons expressing some difficulty paying typical household bills," the statement stated.
Overall, 17% of adults say they are borrowing more money or utilising more credit than they were a year ago.
In March of this year, 43% of individuals said they would be unable to save money in the next 12 months, the highest figure since March 2020, when stringent quarantine measures were implemented in response to the coronavirus epidemic.
(Source: Office for National Statistics // Reporting and edit by: The Decision Maker – Banking & Finance editors)