In Britain, the middle class is worse off due to rising inflation. The situation has deteriorated to such an extent that people are even considering spending on basic amenities. A survey conducted by the Resolution Foundation found that lower-middle-income households in the UK are poorer than those in Western Europe, largely because of higher house prices.
The report also says that inflation in Britain is 8 per cent higher than in OECD countries and house prices in Britain are 44 per cent higher than in these countries. Due to which the middle class families are facing many difficulties.
Even two meals a day is difficult for middle class people
A survey conducted by the Trades Union Congress found that one in six workers regularly skip meals to make ends meet. A survey of 2,544 people found that employees were skipping meals several days a day or even once a week in the past three months to meet their needs.
More than 20 percent of those surveyed said they could not pay their monthly bills and 10 percent admitted they were in debt every month. Almost a quarter of workers have also cut back on food costs and 31 per cent said they are avoiding turning on the heating in their homes to cut bills.
Although the Resolution Foundation reported that food prices in the UK are 12 per cent lower than the OECD average, rising house prices have offset these gains for poor households. Compared to families in Germany and the Netherlands, families in Britain fare worse. In an indication of how hard UK households are struggling due to the rising cost of living, most of their income is being spent on housing, making it difficult to save money for savings or other expenses.
. Source
