Londoners’ anxiety skyrockets 57 per cent due to rising bills, going out less November 1, 2022 Almost sixty per cent of Londoners are increasingly anxious about rising energy bills, with millions eating less healthily and staying in more to save cash. The human impact of the cost of living crisis continues to deepen, with new figures exposing a deep generational dive between young professionals and over-65s. The data, published by Personal [...]
Nearly 28,000 Brits enter insolvency as economic crunch hits October 28, 2022 Almost 28,000 personal insolvencies were recorded over the past three months as Britons come under pressure from the soaring cost-of-living, according to official figures. The Insolvency Service confirmed on Friday that it has also seen a rise in registrations from people seeking breathing space from debts. The new data showed that 27,927 individual insolvencies were [...]
Top brewer warns average cost of a pint may now exceed £7 October 26, 2022 A top Brewer has said the average cost of a pint could cost reach £7 due to the cost of living. Scottish beer-maker Brewgooder’s chief executive Alan Mahon said the cost of raw ingredients were reaching “eye-watering” levels, pushing up the cost of a cold brew. Mahon said C02 was now costing 3,000 per cent [...]
Range of 30 low-cost items increase in price by 17 per cent in last year – ONS October 25, 2022 A range of 30 every-day low-cost items have increased in price by 17 per cent in the last year, new figures have revealed. Data from the Office for National Statistics show a range of products went up considerably over the 12 months to September, as the cost of living continues to bite. Items including vegetable [...]
Record 730,000 retirees returning to work to top up pension as living crisis pushes older Brits to the brink October 17, 2022 More than 733,000 retirees across the UK are preparing to return to work as the cost-of-living crisis escalates, according to new research shared with City A.M. this morning. For 12 per cent of those in retirement, rising inflation has “upended” their retirement plans. More than a third of UK retirees are worried they will no [...]
Pret A Manger invests £10m in staff pay bringing salaries above inflation October 11, 2022 Pret A Manger will invest £10m to support its staff with the cost of living crisis, bringing pay above inflation. The outlet will give its workers a salary boost from 1 December to the tune of five per cent. This comes after the coffee chain invested £9.2m in April this year, with 6,500 of its [...]
Marshalls’ shares plummet as firm warns of slowdown in sales October 7, 2022 Shares in building materials manufacturer Marshalls fell almost 20 per cent today after the firm warned of a slowdown in sales due to faltering demand. The West Yorkshire firm said its outturn will be “slightly below the bottom end of the current range of market expectations” as its sales start to slow. The warning comes [...]
Exclusive: Most business managers don’t think it’s their job to help staff with cost of living woes October 6, 2022 Most business leaders do not see it as their responsibility to support staff with financial woes. New figures exclusively shared with City A.M. this morning from financial wellbeing Mintago lifts the lid on a lack of strategy for British firms during the cost of living crisis. Surveying 762 managers, almost 40 per cent said they [...]
High street spending slumps amid retail’s Covid recovery October 6, 2022 The high street’s Covid recovery has been slowed by the economic slump, with shoppers cutting back on shopping sprees last month. According to freshly published statistics from Springboard, the recovery of retail footfall slowed for the third month in a row. Footfall increased just 6.8 per cent, compared to a 15.6 per cent boost in [...]
Youngsters ditch pints for savings as cost of living woes stunt spending September 26, 2022 Flocks of youngsters are ditching pints and nights outs en masse as the cost of living crunch sinks in. According to PwC’s consumer risk survey, 18-34 year olds are making major cuts to consumer spending, with 69 per cent either reducing or stopping eating out, 57 per cent ditching subscriptions to their streaming/TV services, and [...]