Three million UK households are being forced to skip meals as the cost of living continues to strain household finances, according to the latest Which? Consumer Insight Tracker.
Food price worries escalate
The tracker found that a majority of UK adults (85%) are worried about food prices, up from 83% in February. As a result, two-thirds (67%) of people have made at least one adjustment to their shopping or eating habits in the last month to try and save money.
Concerningly, one in ten households – equivalent to three million – are now skipping meals to keep the cost of their weekly shop down.
Fuel price concerns also rising
Which? found that eight in ten (83%) UK adults are also worried about fuel prices following the Iran war, up from 71% in February. Over two-thirds (69%) have changed their driving habits to keep costs down, with one in eight saying they had visited friends and family less (13%).
Consumer confidence hits new low
The latest tracker, which took into account household habits in the month to April 10, found consumer confidence fell to -62 – the lowest level since the height of the cost of living crisis in 2022.
The consumer champion said the vast majority of UK adults (71%) think the UK economy will worsen over the next 12 months, while fewer than one in ten (9%) think it will improve.
Households making drastic adjustments
This increase has seen over half (53%) of people – an estimated 15 million UK households – make adjustments to cover essential spending. This includes cutting back on essentials (29%), using savings (25%), selling possessions (9%), or borrowing from friends or family (9%).
Which? found that 7.7% of UK households missed a house bill, loan, or credit card payment. The average rate of missed payments over the last three months was 7.5%, up significantly from 5.7% at the end of last year. Which? says if this trend continues, missed payments will reach levels seen during the peak of the cost-of-living crisis over the next few months.
Urgent action needed
Rocio Concha, Which? Director of Policy and Advocacy, said: "Our latest research highlights the deepening strain not only on household finances, but also on people’s physical and social wellbeing as cost of living pressures bite. Many are already making difficult choices, such as skipping meals. Without meaningful interventions the number of people taking drastic measures is likely to increase. We need to see urgent action, as set out in our Cost of Living Manifesto, to address these costs and help restore confidence before even more households are pushed into serious financial difficulty."
