A new report from consumer watchdog Which? has highlighted the devastating impact of rising costs on UK households. The organisation's research found that 85% of households are worried about increasing food prices, with three million families forced to skip meals as a result.
The conflict in the Middle East and subsequent surge in oil and raw material prices have driven up costs for businesses, leading to price hikes across various sectors, including energy, food, and housing. Consumers are being squeezed by these rising costs, with many struggling to make ends meet.
While government support schemes, such as the Energy Price Guarantee, aim to provide some relief, they may not be enough to mitigate the full impact on households. As a result, consumers are increasingly worried about the future of the economy, with many expecting prices to continue rising in the coming months.