{"id":729,"date":"2022-07-12T14:07:38","date_gmt":"2022-07-12T14:07:38","guid":{"rendered":"https:\/\/www.drafty.co.uk\/blog\/?p=729"},"modified":"2022-10-19T20:20:56","modified_gmt":"2022-10-19T20:20:56","slug":"cost-of-living-crisis-uk","status":"publish","type":"post","link":"https:\/\/www.drafty.co.uk\/blog\/cost-of-living-crisis-uk\/","title":{"rendered":"Cost of Living Crisis UK in 2022: Why Are Prices Rising?"},"content":{"rendered":"\n<p>It\u2019s all we hear about these days \u2013 the <strong>cost of living crisis in the UK<\/strong>. But what\u2019s it all about? What\u2019s caused it, when\u2019s the cost of living crisis going to end, and how do we cope with it? We\u2019ll answer all these questions here.<\/p>\n\n\n\n<p><strong>The Cost of Living Crisis Explained<\/strong><\/p>\n\n\n\n<p>We all <strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/how-much-money-do-you-need-to-live-comfortably-uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">need a minimum amount of money<\/a><\/strong> coming in to live on. We\u2019ve all got to pay for food, rent or mortgage, for our energy bills and for travel to work. But if the cost of these things goes up at a higher rate than our wages, we start finding it hard to make ends meet. When this happens, there\u2019s a cost of living crisis.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.drafty.co.uk\/blog\/cost-of-living-crisis-uk\/#what_is_the_cost_of_living_crisis_uk\" >What is the Cost of Living Crisis UK?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.drafty.co.uk\/blog\/cost-of-living-crisis-uk\/#what_is_causing_the_cost_of_living_crisis_in_the_uk\" >What is Causing the Cost of Living Crisis in the UK?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.drafty.co.uk\/blog\/cost-of-living-crisis-uk\/#when_will_the_cost_of_living_crisis_end\" >When Will the Cost of Living Crisis End?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.drafty.co.uk\/blog\/cost-of-living-crisis-uk\/#how_to_cope_during_a_cost_of_living_crisis\" >How to Cope During a Cost of Living Crisis?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what_is_the_cost_of_living_crisis_uk\"><\/span><strong>What is the Cost of Living Crisis UK?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Here in the UK, we\u2019ve all been seeing the cost of everything going up. The problem with this <strong>rising cost of living<\/strong> is that our wages haven\u2019t been going up at the same rate. So, the money we earn doesn\u2019t feel like it\u2019s enough anymore. Where we used to be able to enjoy little luxuries, we\u2019re starting to watch the pennies instead.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what_is_causing_the_cost_of_living_crisis_in_the_uk\"><\/span><strong>What is Causing the Cost of Living Crisis in the UK?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>That\u2019s a good question. Here are some of the reasons why this is happening.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>When the Covid-19 pandemic broke out it stopped our normal way of life. We couldn\u2019t buy and sell things like we used to, and we couldn\u2019t go travelling. Then, once everything started getting back to normal, the demand for everything suddenly went up. The problem is that businesses weren\u2019t ready to meet this demand, so it pushed prices up.<\/li><li>The sudden increase in demand included the need for more energy, like gas and electricity. This happened around the world which forced up the price of these too. And we\u2019ve all seen big hikes in our energy bills.<\/li><li>In April this year we had to start paying higher National Insurance contributions. This means we\u2019re taking home less money in our wages. Plus, local councils have put up the amount we pay them in council tax. Leaving us with less money in our pockets each month.<\/li><li>When Brexit happened in the UK, many foreign workers left the country. This left us with a shortage of lorry drivers. With fewer drivers, transport companies could charge more to deliver goods. With these costs going up, businesses have had to cover them by putting up their prices.<\/li><\/ul>\n\n\n\n<p>All these things have been part of what\u2019s caused the cost of living crisis. The problem is that, because it\u2019s not just one thing that\u2019s making the prices rise, it\u2019s not easy to stop it. &nbsp;But will it ever end?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"when_will_the_cost_of_living_crisis_end\"><\/span><strong>When Will the Cost of Living Crisis End?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>No one can put a date on it. In time prices will start to come down. Or our wages will rise enough for us to be able to afford to pay for everything again. How long it\u2019ll be before this happens is anyone\u2019s guess.<\/p>\n\n\n\n<p>It all sounds a bit gloomy doesn\u2019t it, but don\u2019t worry. Life can still be enjoyed even with a cost of living crisis.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how_to_cope_during_a_cost_of_living_crisis\"><\/span><strong>How to Cope During a Cost of Living Crisis?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are things you can do to help you get through this \u2013 here are a few tips for you to try.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>If you haven\u2019t got a budget, start doing one now. It really does make a difference when you know where your money\u2019s going. You can see what to cut back on, like takeaways or some of those subscriptions. Remind yourself, if you can live without it don\u2019t spend on it.<\/li><li>Have a look if you\u2019re eligible for any grants or schemes that could help with your energy bills. The Citizens Advice Bureau can help you with this.<\/li><li>Use loyalty cards and discount codes when shopping. You\u2019ll save money by using them. Some loyalty cards even turn your points into pounds which you can spend on what you want. It\u2019s worth doing.<\/li><li>Think about how you drive your car and make it more efficient. Fill up at the cheapest petrol station. Keep your tyres pumped up to what they should be and try not to carry heavy loads if you don\u2019t need to. Car share where you can and if the journey isn\u2019t necessary, don\u2019t do it.<\/li><\/ul>\n\n\n\n<p>Remember, you\u2019re not the only one being affected by the cost of living crisis. Everyone\u2019s being hit by rising fuel, energy, and <strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/how-to-save-money-when-shopping-for-food\/\" target=\"_blank\" rel=\"noreferrer noopener\">food costs<\/a><\/strong>. The difference is how you deal with it.<\/p>\n\n\n\n<p>You can still enjoy life by finding things to do that don\u2019t cost a lot of money. See friends at home instead of going out, play board games instead of watching TV every night. Join a local social media group where people are giving stuff away for free. Who knows what you\u2019ll find &#8211; maybe a recycle project to keep you busy?<\/p>\n\n\n\n<p>Life doesn\u2019t have to stop just because there\u2019s a cost of living crisis. We just have to find new ways of enjoying it.<\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong> We are not providing financial advice, these are just tips for informational purposes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s all we hear about these days \u2013 the cost of living crisis in the UK. But what\u2019s it all about? What\u2019s caused it, when\u2019s the cost of living crisis going to end, and how do we cope with it? We\u2019ll answer all these questions here. The Cost of Living Crisis Explained We all need [&hellip;]<\/p>\n","protected":false},"author":47,"featured_media":751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-729","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-research"},"_links":{"self":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=729"}],"version-history":[{"count":1,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/729\/revisions"}],"predecessor-version":[{"id":731,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/729\/revisions\/731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media\/751"}],"wp:attachment":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}