People from all parts of the UK, representing all age groups, including a significant majority of Labor voters, believe the rate of inflation will rise next year across a range of categories, since invoices and purchases until exits.
Nearly three-quarters (71%) of those surveyed between November 22 and 25 expect the inflation rate to increase. They also seem to be significantly more worried about it than at the start of the year, when this figure was 40%, or two in five people.
“The cost of living This was a real problem for the last Conservative government – even when the inflation rate was falling, the price impact people still faced was a key factor in many voters’ decisions. This now looks set to be a challenge for the Labor government as well,” Gideon Skinner, head of public affairs policy research at Ipsos, told Sky News.
“Expectations of a further rise in inflation are much more widespread than earlier this year, with the public particularly concerned about the cost of basic household bills like utilities and food shopping.
“Those under 55 and those on low incomes are particularly concerned about the short-term personal impact of the cost of living, although older people are generally more pessimistic about the prospects of further rise in inflation and a drop in their disposable income next year.”
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About eight in ten people expect the cost of food and other household purchases to increase. In fact, concerns about rising food prices are more widespread than in many other countries, with Britain ranking fourth out of 32 countries surveyed in a separate poll conducted by Ipsos.
The economy is “bad”
Britons’ assessment of the British economy has also deteriorated since Labor took power, particularly since the Chancellor’s October Budget, with 75% saying the state of the economy is “bad,” up from 70% before the election.
Yet things are not as bad as at the end of 2022, after Liz Truss and Kwasi Kwarteng’s mini-budget, when almost 90% thought the economy was doing badly.
Even though people who voted for Labor in this year’s election are the least pessimistic compared to others, 69% of them still rate the economy as bad.
Messages about taxes are not arriving
The government has promised that there will be no tax increases for “workers” under its leadership. But public opinion appears unconvinced, with 63% of all Britons and 60% of Labor voters saying they expect their taxes to rise next year.
This belief is only slightly less common among working class people, at 61%, than among those considered middle class, at 65%.
Those in the above-average income bracket, between £35,000 and £55,000, are most concerned, with seven in ten believing their taxes will rise. This is despite the fact that this group of employees has benefited more than others from tax changes in recent years, such as Previous Sky News analysis showed.
Seniors are most concerned about bills
As winter approaches and colder weather approaches, it’s no surprise that most of those surveyed expect the cost of their utility bills to increase over the next six months.
However, this concern is much more prevalent among older adults, with 93% of those aged 55 to 75 saying they expect their bills to increase, and 42% saying they expect them to increase “a lot ”, compared to 27% expecting large increases among older people. the 18-34 age group.
This could be a response to the government’s decision to limit the winter fuel payment to only pensioners on pension credit or other means-tested benefits, with around 10 million pensioners expected to lose the payment.
Who is responsible for cost of living issues?
More people worry about the rising cost of living “nationwide” than about the rising costs for themselves.
Nine in ten people say they are concerned about the country as a whole, compared to three-quarters who say the same about their personal spending.
Just under half (48%) say Keir Starmer’s government is doing a “poor job” of managing the cost of living, although this is down slightly from 55% who said the same. thing about Rishi Sunak’s government a year ago.
Labor currently still leads the Conservatives as the party people most trust to manage the economy.
“Politically, the economy is back at the top of the agenda, and the budget has failed to make many people feel more reassured about their personal financial situation, with the expectation that people will pay more in taxes now than before the election,” Mr. Skinner said.
“Labor still retains a slight edge over the Tories as the most trusted on the economy, but just five months after the election, half think they are doing a poor job on the cost of the life. Unions must demonstrate that they can bring real improvements to citizens in their daily lives, by combining both the standard of living and the state of public services, if they want to escape the pessimism of public opinion.”
The gap between parties has narrowed, with more people (40%) now saying they would not trust any party to manage the economy than saying they would trust Labor (31%) or to conservatives (22%) individually.
THE Data and forensics The team is a multi-functional unit dedicated to delivering transparent journalism from Sky News. We gather, analyze and visualize data to tell data-driven stories. We combine traditional reporting skills with advanced analysis of satellite imagery, social media and other open source information. Through multimedia storytelling, we aim to better explain the world while showing how our journalism is done.