Rising costs will make it harder for families to put food on the table

Rising costs will make it harder for families to put food on the table, according to results from PayPlan’s Autumn Income Shock Survey, commissioned to understand the growing impact of inflation on people in financially vulnerable situations.

The research found that rising energy prices will affect 30% of people’s ability to put food on the table, while 57% will have to cut back on groceries and toiletries whilst 50% of respondents said they could not meet household bills since the Univeral Credit uplift ended.

Over 30% said increased energy costs were having a negative impact on their mental health with 16% of respondents said rising living costs would force them to turn to food banks over the Autumn and Winter.

The results from the survey show the extent to which rising costs are already affecting people across the country. The majority of the individuals surveyed were in work and yet still reported that rising costs would make it harder for them put food on the table and pay bills, a trend that is set to continue with inflation still climbing and Christmas approaching.

Rachel Duffey, Chief Executive of PayPlan, said “You only have to look at the news to see people will find it harder to cope this Christmas. Inflation is rising and putting pressure on everyday people making ends meet. On top of the increased spending we typically see over the Christmas period this is a real worry.”

“The survey shows it’s not just people’s wallets that suffer as a result of increased living costs, it’s their mental wellbeing too. It could be a tough Christmas for a lot of people this year and we know the impacts are always far longer-term.”

“We know that the Government have put some support measures in place but these are difficult to navigate, especially for people who are already stressed and worried. We’d really encourage people to reach out for help sooner so they can talk their options through with someone in a simple, straightforward way. The earlier they come to us, the more we’ll be able to support them.”