How much has the UK's cost of living risen this year? This chart shows you all you need to know

Sep 22, 2022

With the collaboration of Statista.

A single working adult in the UK needs to earn at least £293.28 each week to reach the minimum standard of living. Image: Unsplash/ Christopher Bill

Anna Fleck

Data Journalist, Statista

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Millions of people in the UK face soaring energy prices and inflation this winter.
Incomes are not rising at the same rate, meaning many people may fall short of a decent standard of living, according to anti-poverty charity the Joseph Rowntree Foundation.
The chart below shows a breakdown of how much an average working person in the UK is likely to spend on essentials each week.

Soaring energy prices and inflation, paired with the fact incomes have not increased at the same rate, means millions of people living in the UK risk falling short of what they need for a decent standard of living this winter, according to the Joseph Rowntree Foundation.

The extent of inflation within the UK is made tangible by the foundation’s latest report, which shows how a single working adult living in the UK needs to earn at least £293.28 each week in order to reach the minimum standard of living. This is a 26.8 percent increase since 2021, when the average adult needed £231.33 per week. These figures do not include rent and childcare, and so in actual fact, the costs consumers will be paying are higher still.

Our chart shows a breakdown of how much the average working person is likely to spend on food, clothing, transport, social activities and household goods in a week, based on the foundation’s survey. Domestic fuel has more than doubled its cost since this time last year, while food and drink has increased by nearly a third as much again. The costs of social and cultural activities have also risen by around 45 percent.

A chart showing a breakdown of the rising cost of living.

A single working adult living in the UK needs to earn at least £293.28 each week in order to reach the minimum standard of living. Image: Statista.

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Two billion people in the world currently suffer from malnutrition and according to some estimates, we need 60% more food to feed the global population by 2050. Yet the agricultural sector is ill-equipped to meet this demand: 700 million of its workers currently live in poverty, and it is already responsible for 70% of the world’s water consumption and 30% of global greenhouse gas emissions.

New technologies could help our food systems become more sustainable and efficient, but unfortunately the agricultural sector has fallen behind other sectors in terms of technology adoption.

Launched in 2018, the Forum’s Innovation with a Purpose Platform is a large-scale partnership that facilitates the adoption of new technologies and other innovations to transform the way we produce, distribute and consume our food.

With research, increasing investments in new agriculture technologies and the integration of local and regional initiatives aimed at enhancing food security, the platform is working with over 50 partner institutions and 1,000 leaders around the world to leverage emerging technologies to make our food systems more sustainable, inclusive and efficient.

Learn more about Innovation with a Purpose's impact and contact us to see how you can get involved.

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