Responding to the latest inflation figures, Nick Bowes, Chief Executive, Centre for London said:
“This latest rise in inflation is no surprise for Londoners already feeling the squeeze because of rising prices on all fronts. This is leading to a serious squeeze on living standards, particularly for households in the lowest income bracket.
Polling we conducted with Savanta ComRes in the spring of 2022 revealed that a quarter of Londoners wouldn’t be able to afford an unexpected expense of £500, four percentage points higher than just nine months earlier. This is a shocking figure that exposes just how many people in the city live hand to mouth and simply cannot afford rising prices without having to cut back on essentials like food and heating bills.
The inflation figures will add to the pressure on the government to do more to help those feeling the most pain.”