Skyrocketing Prices: The Unsettling New Normality of Inflation
In a troubling revelation, a recent cost-of-living tracker by Savanta has shown that over 5.7 million low-income households in the UK are forced to cut down or skip meals due to affordability issues. This number also includes 2.3 million households on Universal Credit, who have been compelled to change the kind of food they buy, often resorting to less nutritious choices.
The Joseph Rowntree Foundation (JRF) and the Trussell Trust are urging the government to implement an "Essentials Guarantee" for Universal Credit. This guarantee would ensure that the minimum payment covers basic living costs, and no support falls below this level. The JRF emphasizes the need for a commitment to this guarantee for the present and future to help families afford essentials and recover from setbacks.
The proposal for an Essentials Guarantee is not new, as disability and poverty campaigners have been advocating for it in the UK. However, the current cost-of-living crisis has made this guarantee more crucial than ever. The Universal Credit system, which is not based on what people need to live on, even in a good year, is failing to meet the needs of many households.
The government has provided five cost-of-living payments to people receiving benefits, but the JRF's research suggests it is not enough. Over five million households are going hungry due to high food prices and inadequate Universal Credit support. Approximately seven million households have gone without heating or basic toiletries for more than a year.
The situation has become a "horrendous new normal" according to Rachelle Earwaker, Senior Economist for the JRF. The extraordinary levels of food inflation are causing people to buy less fresh and healthy food and more packaged, processed, or less nutritious food. Poverty is having a profound impact on the nation's health, and life expectancy is falling for some groups.
Without an Essentials Guarantee, many families face the prospect of being in a spiral of debt, rising prices, and worsening health. Hardship on this scale is expected to drive more demand onto the NHS in the coming years. Tomorrow, the latest inflation figures will be released to see how the UK economy is performing. It remains to be seen whether these figures will offer any relief to struggling families.
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