Living standards· Prices & consumption Hoping and coping How families were faring in March 2023 27 April 2023 Molly Broome Karl Handscomb Lalitha Try Families in the UK found themselves in the midst of a cost of living crisis over the winter. Inflation has skyrocketed over the past year, with prices still over 10 per cent higher than a year ago. In response to the squeeze, the Government provided £47 billion of support to households in 2022-23, offsetting around three quarters of the rise in energy bills since 2021. However, this support was not enough and has meant that households have had to find ways to cope on their own. Drawing on our second cost of living survey of over 10,000 individuals, this report, funded by the Health Foundation, examines what action people have taken in the face of rising prices, and shows how the crisis has affected living standards and health, looking specifically at the impact across different income and age groups.
