{"id":52821,"date":"2023-05-12T15:22:51","date_gmt":"2023-05-12T14:22:51","guid":{"rendered":"https:\/\/www.shefnews.co.uk\/?p=52821"},"modified":"2023-05-12T15:22:51","modified_gmt":"2023-05-12T14:22:51","slug":"cost-of-living-crisis-more-households-and-students-are-struggling-to-the-rising-spending","status":"publish","type":"post","link":"https:\/\/shefnews.co.uk\/index.php\/2023\/05\/12\/cost-of-living-crisis-more-households-and-students-are-struggling-to-the-rising-spending\/","title":{"rendered":"Cost-of-living crisis: More households and students struggling with rising spending"},"content":{"rendered":"\n<p>In the UK, prices for basic necessities have been rising more quickly than household earnings.<\/p>\n\n\n\n<p>Sheffield students say they have experienced a significant increase in daily expenses.\u00a0<\/p>\n\n\n\n<p>Charlotte Liu, 20, a business student said: \u201cWhen I came back to Sheffield, my monthly spending had increased more than \u00a3100.\u00a0<\/p>\n\n\n\n<p>\u201cNot only the food price, the rent of my accommodation has increased. Everything is going up.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.shefnews.co.uk\/wp-content\/uploads\/sites\/12\/2023\/05\/image-12-1024x349.png\" alt=\"\" class=\"wp-image-52828\" \/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.ons.gov.uk\/economy\/inflationandpriceindices\/bulletins\/consumerpriceinflation\/latest\">According to the Office for National Statistics<\/a>, food and non-alcoholic beverage prices are increasing at the fastest rate in over 45 years.<\/p>\n\n\n\n<p>In the year preceding March 2023, cucumbers (up 52%), olive oil (up 49%), and hard cheese (up 44%) grew the most in price.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.shefnews.co.uk\/2023\/05\/12\/what-does-the-interest-rates-increase-mean\/\">What does the interest rate increase mean?<\/a><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.shefnews.co.uk\/2023\/05\/05\/cost-of-living-forces-woman-to-sell-her-home-and-live-in-a-campervan\/\">Cost of living forces woman to move into campervan<\/a><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>&#8220;The greatest impact of rising prices for me is Haribo. It has been raised from one pound to one and a half pounds,&#8221; said Harry Xhiue, a 21-year-old architecture student.<\/p>\n\n\n\n<p>Aside from students, many households are affected by rising prices. Many of them are complaining that the rate of price increases is much faster than the rate of wage increases.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.shefnews.co.uk\/wp-content\/uploads\/sites\/12\/2023\/05\/image-12-1024x349.png\" alt=\"\" class=\"wp-image-52826\" \/><\/figure>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.shefnews.co.uk\/wp-content\/uploads\/sites\/12\/2023\/05\/image-12.png\" alt=\"\" class=\"wp-image-52829\" width=\"342\" height=\"455\" \/><figcaption class=\"wp-element-caption\">2020<\/figcaption><\/figure>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.shefnews.co.uk\/wp-content\/uploads\/sites\/12\/2023\/05\/IMG_4057-2-768x1024.jpg\" alt=\"\" class=\"wp-image-52832\" width=\"339\" height=\"451\" \/><figcaption class=\"wp-element-caption\">2023<\/figcaption><\/figure>\n<\/div>\n<\/div>\n\n\n\n<p>These are Let\u2019s Sushi\u2019s menu in 2020 and 2023.&nbsp;<\/p>\n\n\n\n<p>Within three years, each meal has increased by one to two pounds.&nbsp;<\/p>\n\n\n\n<p>Brian Cooper, 49-year-old, a business worker said: \u201cWhat used to be \u00a31, it\u2019s now \u00a32; what used to be \u00a33, it\u2019s now more than \u00a34.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.shefnews.co.uk\/wp-content\/uploads\/sites\/12\/2023\/05\/image-12-1024x349.png\" alt=\"\" class=\"wp-image-52827\" \/><\/figure>\n\n\n\n<p>The annual inflation rate in this category increased to 19.2% in February 2023 from 18.2% in February 2022. Indicative estimates derived from models indicate that the rate was last higher in August 1977, when it was estimated to be 21.9%.<\/p>\n\n\n\n<p>Due to the rising food prices, 48% of adults have purchased less food in recent years.&nbsp;<\/p>\n\n\n\n<p>It is currently a difficult time for students and households to deal with this issue.&nbsp;<\/p>\n\n\n\n<p>People may cope with the problem in the short term by purchasing less food and necessities. However, if the problem is not addressed properly, it will worsen in the long run. As a result, more people anticipate needing some form of assistance in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the UK, prices for basic necessities have been rising more quickly than household earnings. Sheffield students say they have experienced a significant increase in daily expenses.\u00a0 Charlotte Liu, 20, a business student said: \u201cWhen I came back to Sheffield, my monthly spending had increased more than \u00a3100.\u00a0 \u201cNot only the food price, the rent [&hellip;]<\/p>\n","protected":false},"author":58,"featured_media":51307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[415,18,55],"tags":[],"class_list":["post-52821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community","category-health","category-top-story-3"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cost-of-living crisis: More households and students struggling with rising spending - ShefNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shefnews.co.uk\/index.php\/2023\/05\/12\/cost-of-living-crisis-more-households-and-students-are-struggling-to-the-rising-spending\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost-of-living crisis: More households and students struggling with rising spending - ShefNews\" \/>\n<meta property=\"og:description\" content=\"In the UK, prices for basic necessities have been rising more quickly than household earnings. 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