Reasons for cost of living increasing

• In line with Wave 5, the increased price of food shops and gas or electricity bills are the top two reasons for the rise in the cost of living for all residents, although in lower proportions than in previous waves
• The increased price of fuel and higher rent or mortgage costs are also key factors, affecting around 40% of residents
• 8% report none of these are making meeting day-to-day costs difficult, compared with 2% in Wave 5

This chart shows what makes meeting everyday costs difficult by wave 5 and wave 6:
The higher price of my food shop was selected by 77% in wave 6, and 95% in wave 5
Higher gas or electricity bills was selected by 62% in wave 6 and 79% in wave 5
Increased price of fuel was selected by 41% in wave 6 and 56% in wave 5
Higher rent or mortgage costs was selected by 39% in wave 6 and 37% in wave 5
Increased price of my public transport was selected by 16% in wave 6 and 19% in wave 5
Increased childcare costs was selected by 6% in wave 6 and 9% in wave 5
Higher council tax was selected by 2% in wave 6
Increased insurance costs was selected by 1% in wave 6
6% in wave 6 and 7% in wave 5 selected ‘other’
8% of residents in wave 6 and 2% in wave 5 said ‘none of these’

Sex

Females are more likely to be affected by higher rent or mortgage costs (+8%), the higher price of their food shop (+9%), the increased cost of public transport (+12%), and increased childcare costs (+3%) than males.

Age

Those aged 35 and older are more likely to be affected by higher gas or electricity bills (73%-74%), whilst those aged 44 and under are disproportionately affected by higher rent or mortgage costs (54%-57%).

The youngest age group are also affected most by travel costs (fuel 56%, public transport 24%).

Increases in childcare costs have affected those aged 25-44 the most.

Children in household

Those with children in the household are more likely to be affected by all the listed factors, but particularly the increased cost of public transport (24%) and increased childcare costs (22%) than those households without children.

Ethnic group

The increase in gas or electricity bills (+15%), and public transport prices (+25%) have impacted residents from ethnic minorities more than those from white ethnic groups.

Household income

Increases in the price of childcare have affected those on higher incomes (+7%) whilst those on the lowest incomes are feeling increases in the price of public transport more than others (28%).

Housing status

Local authority renters are more likely to be affected by higher gas or electricity bills (85%) and increased childcare costs (14%).

Both private and local authority renters are more likely to be affected by higher rent costs, the increased cost of their food shop and the increased cost of public transport.