Half of UK consumers ‘extremely concerned’ about cost-of-living squeeze

In the twelfth edition of the survey, it found that in total UK consumers were 12% more concerned about the cost-of-living crisis than their counterparts in Europe. These pressures are, unsurprisingly, being felt most keenly by low-income households – with 54% of this group priortising affordability, up from the 42% seen in June 2022.  

EY UK and Ireland’s retail lead Silvia Rindone said: “Our latest survey shows the strain the ongoing cost-of-living squeeze is having on UK consumers who are making more considered decisions about how and where they spend their money.  

“This challenging, highly-price sensitive environment means brands and retailers need to work harder than ever to understand the factors influencing the UK consumer and re-evaluate ranges and pricing to better meet their needs.”