Reason for cost of living increasing

• In line with Wave 6, the increased price of shops and gas or electricity bills are the top two reasons for the rise in the cost of living for all residents, although these are more impactful for residents in Wave 7
• Higher rent or mortgage costs and the increased price of fuel are also consistent key factors, affecting around 40% of residents. The increased price of public transport is having a bigger impact on residents compared to Wave 6 (W7:26% vs W6:16%)

This chart shows:
In Wave 7, 81% of respondents cited the higher price of food shopping as a reason for difficulty meeting day-to-day living costs. In Wave 6, 77% cited the higher price of food shopping.
In Wave 7, 74% of respondents cited higher gas or electricity bills as a reason for difficulty meeting day-to-day living costs. In Wave 6, 62% cited higher gas or electricity bills.
In Wave 7, 40% of respondents cited higher rent or mortgage costs as a reason for difficulty meeting day-to-day living costs. In Wave 6, 39% cited higher rent or mortgage costs.
In Wave 7, 38% of respondents cited the increased price of fuel as a reason for difficulty meeting day-to-day living costs. In Wave 6, 41% cited the increased price of fuel.
In Wave 7, 26% of respondents cited the increased price of public transport as a reason for difficulty meeting day-to-day living costs. In Wave 6, 16% cited the increased price of public transport.
In Wave 7, 8% of respondents cited increased childcare costs as a reason for difficulty meeting day-to-day living costs. In Wave 6, 6% cited increased childcare costs.
In Wave 7, 5% of respondents cited higher council tax as a reason for difficulty meeting day-to-day living costs. In Wave 6, 2% cited higher council tax.
In Wave 7, 3% of respondents cited water bills as a reason for difficulty meeting day-to-day living costs. In Wave 6, this was not cited.
In Wave 7, 6% of respondents cited other reasons for difficulty meeting day-to-day living costs. In Wave 6, 6% cited other reasons.
In Wave 7, 6% of respondents said none of these reasons applied. In Wave 6, 8% said none of these reasons applied.

Sex

Females are more likely to be affected by the higher price of their  shop (+7%), higher rent or mortgage costs (+7%), and the increased cost of public transport (+16%) than males.

A higher proportion of males, however, report being affected by increased childcare costs (+5%) and council tax (+5%) than females.

Age 

Those aged under 35 are more likely to be affected by travel costs such as the increased prices of public transport (43%-52%) and fuel (32%-54%).

Those aged 25-34 are particularly affected by higher rent or mortgage costs (75%) and the higher price of their  shop (90%) compared to other age groups.

Older age groups are less likely to be affected by any of these changes.

Housing status 

Local authority and housing association renters are more likely to be affected by higher gas or electricity bills (83-93%). Housing association renters are most likely to be affected by the increased cost of council tax (29%).

Both private and local authority/housing association renters are more likely to be affected by the increased cost of their  shop and higher rent costs.

Children in household

Those with children in the household (especially under 16s) are more likely to be affected by higher rent or mortgage costs (56-58%) and increased childcare costs (26%-33%) than those households without children.

Household income

Lower proportions of residents with the lowest household incomes report being affected by higher rent or mortgage costs (24%) and the increased cost of public transport (16%).

Higher gas or electricity bills have affected those earning £20k-£40k the most (81%).

Ethnic group

The increase in gas or electricity bills (92%), and public transport prices (33%) have impacted residents from ethnic minorities more than those from white ethnic groups.