New research commissioned by the mass-market money-saving app ZIPZERO has revealed the devasting consequences food inflation is having on the well-being of the British public.
The research found that two-in-five Britons (39%) are worried about how they will afford to put food on the table, with one-in-four (24%) are prioritising feeding others over themselves.
39% believe food inflation has negatively impacted their mental health and 35% say their diet has suffered as a result and these numbers rise to 56% and 53% respectively for those aged 18-34.
Meanwhile, over three quarters (78%) believe the government is out of touch with the challenges facing British households due to rising food prices.
ZIPZERO, the app that rewards users with cash toward utility bills every time they scan a receipt or make an online purchase, commissioned new research to uncover the impact rising food prices are having on the British public as well as the ways in which they are trying to make their money go further.
The research, conducted by Opinium, surveyed a nationally representative sample of 2,000 UK adults. It revealed that two-in-five (39%) Britons are worried about how they will afford to put food on the table, while a quarter (24%) say they are prioritising feeding others over themselves.
Food inflation is currently at record levels, with the latest data from the Office for National Statistics showing that average food prices in January 2023 rose by 16.8% in the 12 months prior.
ZIPZERO’s research also uncovered the impact food inflation is having on the mental and physical well-being of adults in the UK. The study found 39% believe concerns over the rising price of food are causing a decline in their mental health while 35% say rising costs have negatively impacted their diet.
The research also highlighted that young people were suffering disproportionately compared to their older counterparts. Of those aged 18-34, 56% said food inflation was negatively impacting their mental health and 53% said it was negatively impacting their diet.
Despite the government’s promise to half inflation by the end of the year, the study found over three quarters (78%) believe the government is out of touch with the challenges households are facing in relation to food inflation and the cost-of-living crisis.
Mohsin Rashid, CEO of ZIPZERO, said: “Food inflation is impacting every household in the UK, this research shows that its consequences are far more devasting and far-reaching than any could have predicted; in fact, it is fundamentally changing the nature of British society.
“With two-in-five adults worried about putting food on the table and a quarter prioritising feeding others over themselves, living standards in Britain today are bordering on a public health crisis and significant doubt is raised over what it means for the UK to be a developed economy in 2023. It is no wonder that the vast majority of the public believes the government is out of touch with the challenges facing everyday households.”
“Obviously, the government must get to grips with inflation but further support for households is needed now. Retailers and brands must be a part of this. They must avoid passing on rising costs to struggling consumers and instead search for solutions that ensure both the financial well-being of their business and their customers. As the ZIPZERO platform demonstrates, such solutions do exist and will actually boost retail sales while helping households to put food on the table.”