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The Markets
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The Markets
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Proactive UK has moved.
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UK consumers cut back in their millions on food and essentials: ONS data

Two out of five people who earn between £10,000 to £30,000 are cutting back on food and essentials

Some 16mln people in the UK are cutting back on food and essentials because of rising food and energy prices, according to official data.

While 48% of those earning £10,000-£15,000 have specifically cut back on food, as have 51% of renters, those on lower incomes are more likely to fall behind on energy bills and housing costs, according to the Office for National Statistics (ONS).

A worsening cost-of-living crisis has led many people to change their lifestyles to save money, as retailers and other consumer-facing companies of various stripes from furniture sellers to bookmakers have reported in recent weeks, with the hospitality industry reporting similar today.

Some 11mln people are spending their savings, while 6mln are borrowing more, with 89% feeling the pinch of rising prices, data shows.

In the last two weeks of July, 44% of UK adults who pay energy bills found it very or somewhat difficult to afford them, according to the ONS, which added that it was a slight decrease compared to the first half of July when 46% were struggling.

While 26mln people are cutting back on non-essentials, 24mln are using less energy at home and 19mln are cutting non-essentials car journeys.

Two in five of those earning £10,000-£30,000 are cutting back on food and essentials, data showed.

"These are truly desperate times, and millions of people have been forced to take desperate measures. While all of us are facing the pain of rising prices, it’s those on lower incomes, renters, people with disabilities and those in the most deprived areas that are facing impossible challenges," said Sarah Coles, senior personal finance analyst, Hargreaves Lansdown.

"Traditional money-saving techniques have spread across the income spectrum, so more than half of us are spending less on non-essentials and using less energy at home."

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