Cost of Living Report

During October - December 2022, 154 local people in Redbridge completed our survey on the current cost of living pressures.

Findings suggest that older people are experiencing a ‘real and significant’ crisis.

A clear majority of respondents (91%) express worry or concern about rising costs and a large number (85%) have taken action to cut back on their bills and expenses.

Of those making cutbacks, around three quarters (73%) have reduced their household energy use, 43% have curtailed their social activity or holiday plans and 35% have cut down on meals, or switched to cheaper brands.

After paying for basics, 43% of respondents have ‘money left over for luxuries’ while a larger number (48%) say they do not. 41% have had to use savings.

A significant minority of respondents (39%) say that the current economic situation has affected their physical or mental health.

Key concerns include the ability to pay bills, level of savings, and possibility of falling into debt.

Click here to read our full report. Hard copies on request.