source:
ITV Network
published: 26 August 2022
(republished 10 December 2023)
Almost everyone will have heard of the cost of living crisis by now, but no-one can be sure exactly how it will affect them. From soaring energy and fuel bills to an increase in National Insurance and council tax payments, prices are set to increase dramatically over the next few days and weeks'.
Charities predict it will further push people into hunger, fuel poverty, and crippling debt.
What costs are rising?
From free debt and employment advice, to providing affordable and healthy food, ITV have provided a listing of who is on hand to help across the West Midlands.
Other sources of support;
In a new report by The University of Birmingham (Published 18 July 2023), they said;
The latest REDI-Updates briefing from the University of Birmingham’s West Midlands Regional Economic Development Institute (WMREDI) reveals how the cost-of-living-crisis is impacting people and businesses, and examines the supply-side failures driving it.
Since the end of the pandemic inflation has risen to its highest level in 40 years, hitting double digits in 2022 and 2023, with the cost of a basic food shop increasing 24.2% between
March 2019 and March 2023.
REDI-Updates studies the impact of rapidly rising inflation on the local and national economy, analysing and evaluating the international, national, and local factors driving inflation and how rising prices are impacting both businesses and households. It also examines what actions these groups are taking to mitigate the impact of rising prices, for example, household food bank usage has risen 52% from pre-pandemic levels, as households struggle to afford essentials.
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The CATALYST Team