Home Business News Majority of Brits say cost of living has spiked due to virus crisis

Majority of Brits say cost of living has spiked due to virus crisis

by LLB Editor
6th Jul 20 11:41 am

In a new global survey by Ipsos, 62% of Britons say they have seen the cost of food, goods and services increase since the coronavirus outbreak. A third say costs have stayed the same while 6% have seen a decrease.

This is largely in line with the global average; 60% in 26 countries around the world have seen an increase in the cost of living.

This is despite half (51%) of Britons feeling their travel costs have decreased since the start of the crisis with only 6% seeing an increase (more than the global average, where roughly a third (36%) have seen a fall in transportation costs). Instead, two in three Brits (65%) say the cost of food, groceries and household supplies have increased, while 30% say they seen an increase in utility bills, and 25% are spending more on entertainment.

Almost six in 10 (58%) Britons say costs have increased due to the need to purchase more expensive items or delivery charges due to store closures or supply shortages since the outbreak of Covid-19. Three in ten say they have incurred additional costs through purchasing new/ more/ better goods and services or by spending more time at home, such as higher bills (both 31%).

Three in five people (60%) in an online poll of nearly 18,000 adults aged 16 to 74-years conducted from 22 May to 5 June in 26 countries say costs overall have increased somewhat or a lot with those in Argentina, South Africa and Mexico (81%), Turkey (80%), Chile and Belgium (79%) at the top of the list.

At the other end, around a quarter of people in Hungary (27%) and South Korea (26%) say costs have decreased somewhat or a lot since the outbreak began, followed by Japan and Russia (21%).

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