This content is not available in your region

More than half of Britons are feeling the cost of living pinch - poll

More than half of Britons are feeling the cost of living pinch - poll
More than half of Britons are feeling the cost of living pinch - poll   -   Copyright  Thomson Reuters 2022
By Reuters

LONDON – More than half of Britons are finding it harder to meet their monthly household budget than they were a year ago, the highest share in almost 10 years as inflation mounts, an opinion poll published on Thursday showed.

The survey by Kantar Public showed 52% of people in Britain were feeling the pinch more sharply than in February 2021, up by eight percentage points since January and almost double the level in March 2020 at the start of the coronavirus pandemic.

Fifty-one percent of respondents thought the economy was doing worse than it was a year ago, up 12 points from January.

Britain’s inflation rate hit a 30-year high of 5.5% last month and is on course to peak at about 7.25% in April, according to the Bank of England, when domestic fuel prices are set to jump by more than half.

The Kantar poll showed 45% of respondents believed reducing the cost of living for households should be a priority for the government.

Finance minister Rishi Sunak announced measures earlier this month to soften the hit from the energy tariff increase. But he has resisted pressure to postpone a planned increase in social security contributions which is also due to start in April.