Essential Living has warned that the cost of living in the UK will leave millions to suffer this winter, amid price hikes in rent, bills, food and transportation.
New figures published have revealed the price of living to have risen by 4.2% in October, and could rise to 5% by April 2022, leading us to a 10 year high. This spike will put further pressure on households across the UK, and with Christmas fast approaching, a fifth of UK kids will go without presents as parents worry over inflation and soaring bills.
Nick Woodward at Essential Living has revealed the most likely reasons as to why the cost of living is at such an excruciating high: “Between the pandemic hitting and Covid-support funds coming to an end, causing a rise in fuel, energy costs and many businesses suffering, this intense surge of living costs we are facing will hit low income families the hardest, especially with the extra pressure that the holidays bring. The cost of everything from everyday items such as clothes to your morning coffee has gone up.”