Chris Mason questions Robert Halfon on the cost of living

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The Office for National Statistics (ONS) said recent survey figures showed 66 percent of adults in Britain had experienced an increase in the cost of living over the past month, with higher energy bills cited as a cause by four in five. Of those experiencing the cost of living rises, 32 percent said they were cutting back on their use of fuels such as gas and electricity.

Meanwhile, 53 percent were spending less on non-essentials and 26 percent were digging into their savings. At the start of this year, wholesale gas prices were on average four times higher than at the same period in 2021.

As a result, energy bills have risen sharply for millions of households and are expected to increase further in the spring when Ofgem’s cap on tariffs is supposed to rise again.

While 79 percent of participants in the ONS’s study said gas and electricity prices were a factor in their increased cost of living, 87 percent pointed to a higher price for their food shop.

The figures illustrate the impact of surging inflation, which hit a near-30 year high last month and is expected to climb further in the months ahead.

The squeeze on household budgets across the country is expected to lead in a reduced number of holidays abroad compared to pre-pandemic levels.

According to Evolution Money, the average cost for a UK family of four to take a two-week break is £4792. On top of this, Britons tend to spend an extra £227 per person for each week they are away.

Despite the high price of a family holiday, Britons seem to be itching to get away after two years of lockdowns.

Holiday bookings have jumped with “notable increases” in trips planned for February half-term and Easter ahead of Covid travel tests being scrapped on February 11.

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The rule changes mean fully-vaccinated people arriving in those countries from abroad do not need to take Covid tests.

Jet2 said bookings increased by 30 percent after the announcements that rules would be relaxed for people arriving in the UK.

Steve Heapy, Chief Executive of Jet2, told the BBC the removal of testing was a “game-changer” for the travel industry.

He said demand was “already strong” before the rule changes for England and Scotland were announced on Monday, but said bookings have since risen further.

Will you be booking a holiday abroad this year? Let us know where you’ve got your eye on in the comments section below.

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