In February 2023, Carnegie UK commissioned YouGov to undertake a poll of more than 2000 adults across the UK about the wider impact of the cost-of-living crisis.
The study urged new government support for struggling households, warning the long-term impact of these trends may be more expensive for the public purse than short-term help.
The research found that the cost-of-living emergency was negatively affecting a majority of people in the UK’s ability to manage financially.
According to the research a third of adults said rising costs mean they can’t eat as healthily, while 16 per cent say the crisis means they’re exercising less regularly.
The research also warned that rising costs means people are cutting back on social and leisure activities. About a third of people say the crisis hit their ability to spend time with friends, while a quarter said the same about family.
People’s long-term life prospects are also at risk, the study shows. About one in six adults said that the cost of living emergency had a negative impact on their performance at work or education.