The ONS has revealed that 87% of households reported an increase in their cost of living over late March. This was prior to the energy price cap being lifted by 54% on 01 April.
The most commonly reported reasons behind the increased cost of living were increased pricing for food, energy and fuel.
Record energy prices have left nearly a quarter of adults (23%) reporting that it was difficult to pay their usual household bills (comapred to 17% in early November). This increased to 34% of adults living in the most deprived areas of England.
Concerningly, 43% of adults reported that it was very or somewhat difficult to afford energy bills in March 2022, prior to the price cap rise. This increased to 57% of adults living in the most deprived areas of England.
43% of households are reporting that they will not be able to save money over the next 12 months. This is the highest figure recorded for this question since it was first asked in March 2020.
Download our latest Viewpoint report to see how how shoppers will cope with the cost of living crisis.
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