A recent report has shown that nearly 66% of adults are facing an exacerbating cost of living crisis, according to official data. The Office for National Statistics highlighted that energy and food expenses continue to be significant financial burdens for many individuals.
Approximately 1 in 30 adults reported experiencing food shortages in the last two weeks due to financial constraints. This number increased to 8% for residents in the most deprived areas of England, as well as for renters and individuals with disabilities.
Furthermore, close to 60% of respondents mentioned reducing dining out as a way to manage their finances, reflecting the immense strain on restaurants and pubs struggling to stay afloat.
These findings coincide with the Labour party’s pledge to prioritize addressing the persistent cost of living crisis in the upcoming year. The government is acutely aware that this issue will weigh heavily on voters’ minds during the forthcoming local elections.
The ONS survey emphasized that the cost of living is the top concern for the majority of people (88%), surpassing worries about the NHS, the economy, immigration, crime, and housing.
In other news, a money-saving enthusiast shared a smart tip on how she saved £1,500 on her mortgage by selling her old smartphone. Neesha Craig, residing in Swansea, Wales, utilized the £300 she received from selling her Samsung Galaxy S23 Ultra to make an overpayment on her mortgage, reducing the loan term and saving on interest.
Additionally, a recent study by musicMagpie revealed that around 38% of Britons have unused smartphones worth an average of £250 lying around in their homes.
The Tamworth Tap, a pub in Staffordshire, has clinched the title of the UK’s best pub for the third consecutive year. Praised for its community-centric approach and scenic beer terrace overlooking Norman Castle, the pub owners expressed their gratitude for the prestigious recognition.
Glassdoor announced the top workplaces in the UK for 2026, with SAP, a software engineering firm, securing the top spot. The company’s employee-friendly policies, including flexible hours, generous holidays, and a focus on work-life balance, garnered acclaim.
Poundland underwent a restructuring program that led to the closure of nearly 150 stores and the loss of 2,200 jobs. Despite completing the restructuring, Poundland acknowledged the ongoing challenges it faces in regaining stability.
As the deadline for self-assessment tax returns approaches, HMRC disclosed that approximately 3.3 million taxpayers are yet to file their returns. Failure to meet the January 31 deadline incurs a £100 penalty, with additional fines for delays in submission.
In entertainment news, Harry Styles announced his upcoming tour, prompting fans to be cautious of ticket scams that often accompany high-demand events. Experts advise purchasing tickets from trusted sources and using credit cards for added protection against potential fraud.
Retail sales data for December indicated a 0.4% increase in total volume, with online sales surging by 4.4%, driven by strong demand for precious metals. While 2025 witnessed a notable increase in sales volumes, retail sales remained below pre-pandemic levels throughout the year.