Despite lower inflation, the UK’s cost of living crisis continues 

As the cold weather takes hold, the cost of living crisis is continuing to be a challenge for many in the UK. Higher food costs along with skyrocketing energy bills present a dual challenge for many who are juggling the need to put meals on the table while also heating their homes. 

Despite a recent slowdown in inflation in the UK, indicating an annual rate of 3.9% in November, the figures remain higher than those in the European Union.

London currently has the highest poverty rate in the UK, and individuals and families are struggling with the ongoing economic crisis, especially when it comes to getting enough food. 

While the festive atmosphere of winter envelops Europe’s wealthiest city with dazzling Christmas lights and bustling seasonal markets, the stark reality for numerous Londoners involves queuing up at food banks.

The exorbitant cost of living in London, which soared by 11.1% due to inflation last year, has intensified pre-existing crises of homelessness and poverty. 

While much of Europe has witnessed recovery, the UK’s inflation rate remained at 6.7% in September and 4.6% in October. Over the period between November 2021 and November 2023, the overall cost of food and non-alcoholic beverages surged by approximately 27%, as reported by the UK’s Office for National Statistics (ONS).

In 2022, the number of people experiencing destitution rose to 3.8 million, including one million children—an alarming two-and-a-half times more than in 2017. 

Although energy bills have not reached the extreme levels of 2022, when government assistance was required to help families pay their bills, many households still face the choice between purchasing food or heating their homes.

A recent survey commissioned by the home heating brand Airgon revealed that 34% of British households plan to cut back on their winter food shopping to afford their energy bills. 

Nearly 60% express concerns about the financial burden of staying warm during the winter, with one in 10 households in London allocating over 30% of their monthly income to energy bills.