One in 20 adults run out of food as prices soar

One in 20 adults reported running out of food and being unable to afford more as prices soared, according to an official survey.

Single parents were particularly vulnerable, the Office for National Statistics (ONS) survey suggested, as more than a quarter found themselves in such a scenario.

Certain groups of people are hit harder by the rising cost of living.

The ONS said renters were most likely to be stretched by housing costs.

Some 43% of tenants said they were finding it difficult to afford the rent between February and May, the ONS said. That compares with 28% of mortgage holders struggling with repayments.

"We can see that renters were among those currently more likely to be experiencing financial vulnerability," said David Ainslie, from the ONS.

"Our findings also show that lone parents, disabled adults and black, African, Caribbean or black British adults are among groups more likely to be finding their rent, mortgage and food costs difficult."

Savings struggle

Younger people - who are more likely to rent - were also shown to have felt a tighter financial squeeze than older people. The survey was conducted before the latest increases in mortgage rates, now at a 15-year high, which is likely to affect both homeowners and landlords.

The ONS survey suggested that nearly six in 10 renters (58%) said they were spending less on food shopping and essentials, compared with 48% of mortgage holders. They were also more likely to have run out of food in the previous two weeks - with 14% of renters compared with 3% of mortgage holders in that situation.

Renters, some of whom will want to buy a home, were less likely to say they could save money in the current climate.

Helen Morrissey, from investment platform Hargreaves Lansdown, said: "The cost of living crisis continues to squeeze the life out of our finances with renters particularly vulnerable to rising costs."

How can I save money on my food shop?

• Look at your cupboards so you know what you have already

• Head to the reduced section first to see if it has anything you need

• Buy things close to their sell-by-date which will be cheaper and use your freezer

Read more tips here

The ONS said that renters were more likely to face financial vulnerability, compared with those who owned their home. That means they would be unable to cover an unexpected £850 bill, do not save, and are borrowing more than usual.

Overall, around a third (35%) of adults reported it was difficult to afford their rent or mortgage payments.

One in 20 said they had run out of food and had been unable to afford to buy more in the previous two weeks, the ONS survey suggested. That proportion increases to 28% of single parents.

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This survey reflects people's attitudes to their finances, which may then have an impact on their financial decisions and the UK economy as a whole.

Andy Russell, from investment firm Wealthify, said: "When mortgage, food and energy prices absorb a huge amount of your income on a day-to-day basis, it's almost impossible to focus on your financial future, given how difficult the present is."

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