Cost of living crisis: New poll reveals ‘heartbreaking’ decisions Britons will have to face this winter.

Creative Media NewsMonday, 29 August 2022, 8:000

One in ten adults, according to the survey commissioned by the Liberal Democrats, intends to take out a loan to pay their gas and electricity bills. A report shows that millions of individuals in the United Kingdom will not turn on their heating this winter due to increased energy costs. The survey, commissioned by the...

As cost of living issue worsens, inflation reaches double digits and a 40-year high.

Creative Media NewsWednesday, 17 August 2022, 15:000

According to the Office for National Statistics, rising food prices were the largest contributor to the most recent increase, with annual inflation for these items now standing at 12.7%, up from 9.8% in June. This increase is primarily attributable to price increases for staples such as bread, milk, cheese, and eggs. Britain’s inflation rate has...

How one family copes with cost of living crunch as recession approaches.

Creative Media NewsSaturday, 6 August 2022, 20:000

Vicky Whitwell and her husband reside with their two children in Coventry. Vicky explains that they have “good incomes” but must budget according to “what could happen, what might happen, and what is happening.” Vicky Whitwell opens the refrigerator to retrieve a snack for her children. “We don’t keep much in our refrigerator,” she says,...

Cost of living: From today, more than eight million households receive £326 in their bank accounts.

Creative Media NewsThursday, 14 July 2022, 11:000

Those eligible for the cash will be reimbursed immediately; no application is required. Today, almost eight million households will get the first of two payments designed to assist with the expense of living. As part of the government’s £37bn support package for individuals on means-tested benefits, nearly one in four low-income households in England, Wales,...

Cost of living: The Chancellor foresees “difficult days ahead” amidst a historic decline in discretionary income.

Creative Media NewsThursday, 30 June 2022, 22:000

The Chancellor of the United Kingdom, Rishi Sunak, has acknowledged that “difficult times” lie ahead, hours after official data revealed the longest stretch of dropping disposable income due to increasing inflation. The most recent economic data is unsettling for the Treasury at a time when businesses are pleading for assistance on multiple fronts, pushing for...

Cost of living: Gasoline retailers are accused of “rocket and feather” pricing as the price of unleaded reaches a new high.

Creative Media NewsMonday, 27 June 2022, 13:150

A motoring organization suggests that the CMA’s review of the petrol market should consider why petrol prices are not falling, accusing retailers of acting slowly to protect their margins. Retailers of gasoline have been accused of forcing “rocket and feather” pricing after the average price of unleaded reached a new, unexpected record high over the...

Food purchases are reduced as a result of the rising cost of living.

Creative Media NewsSaturday, 25 June 2022, 19:000

In response to the rising cost of living, households are reducing their food purchases. Due to increasing prices, nearly half of respondents surveyed by the Office for National Statistics (ONS) reported purchasing less food during the last two weeks. According to the ONS, the price of food was also the most common reason why respondents’...

Cost of living: Dismal new retail data casts a gloomy picture of consumer confidence.

Creative Media NewsSaturday, 25 June 2022, 16:000

According to numbers issued on Friday by the Office of National Statistics, sales volumes decreased by 0.5% in February as buyers reduced spending in supermarkets by 1.6% in response to rising prices. According to numbers issued on Friday by the Office of National Statistics, sales volumes decreased by 0.5% in February as buyers reduced spending...

Cost of living: A scramble for value ranges as food inflation reaches its highest point since 2009.

Creative Media NewsWednesday, 22 June 2022, 2:010

As the cost of living problem pushes up prices in stores and the economy as a whole, industry data indicates that buyers are increasingly gravitating toward cheaper goods in supermarkets. The demand for supermarket value ranges has increased by 12 percent as grocery inflation reaches its greatest level in 13 years, according to closely monitored...

Tesco sales decline amid a “very difficult” cost of living situation.

Creative Media NewsSaturday, 18 June 2022, 1:000

Tesco was observing early indications that customers were purchasing cheaper brands of bread and pasta, two staples whose prices had risen substantially this year. The chief executive officer of the grocery store cited skyrocketing cost-of-living rises as a primary cause for shoppers’ reduced spending. Comparing March through May of this year to the same time...

Government “cannot address every problem or save every firm,” argues business minister Paul Scully regarding the cost of living.

Creative Media NewsFriday, 17 June 2022, 14:000

Paul Scully, the minister of commerce, minimized the prospect of quick tax cuts to aid struggling households, citing “tight” state budgets and rising national debt in the aftermath of the pandemic. A minister of the business told that the government is doing everything it can to combat the cost of living “storm,” but that it...

Cost of living: The regulator issues a warning to banks and credit providers over their handling of clients.

Creative Media NewsThursday, 16 June 2022, 22:000

As the cost of living crisis worsens, the City watchdog has issued a warning to banks and other lenders, including credit providers. The FCA asserts that it has identified poor lending practices across the industry, with 34 lenders exhibiting particularly egregious lapses that could result in regulatory action if they do not implement the required...

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