Families in the UK are now £5000 per-year worse off than before the cost of living crisis

Research by nous.co has revealed the massive financial burden faced by many families.

Transcript

00:00 New research reveals the severe impacts of the cost of living crisis on UK families,

00:08 with the average family of four now spending £5,000 more annually compared to 2022.

00:16 Food prices have surged by nearly 24%, increasing the average grocery bill by £1,056.

00:25 Housing, energy and fuel costs have also risen by 24%, adding £1,282 to annual expenses.

00:35 Now, despite inflation nearing the Bank of England's 2% target,

00:40 many households feel no relief as their living standards have significantly dropped.

00:46 These economic challenges will be a critical issue in the upcoming general election,

00:52 influencing voter priorities and campaign strategies

00:56 as parties address the ongoing financial strain pledged to provide financial help to families up and down the entire country.