The price scale does not seem to be disappearing in the foreseeable future and its impact on the pockets of consumers is becoming more severe. In the case of the United Kingdom – where year-on-year inflation is currently 9.4% – the lowest paid and most vulnerable workers, as well as Generation Z and Millennials, are the ones who have seen their situation worsen the most. The months go by. The rising cost of living is forcing some Taking on extra jobs, canceling your subscription to streaming platforms, and even moving back in with your parents.,
Low-income youth are the most affected more disproportionate Price increases, as can be inferred from a report published by an anti-poverty charity. This means that more than 70% of low-income households cannot pay at least one bill, while More than 80% of young people between 18 and 34 years old do not have access to basic goods and services, notes the Joseph Rowntree Foundation. Not even with the help of the UK government to meet the cost of energy, which “They are no longer enough”The British Parliament’s Trade, Energy and Industrial Strategy Committee.
A situation that has forced to change the consumption habits of many citizens of the United Kingdom. According to the evidence collected guardianThe rise in the price of gasoline has led more than one to leave the car parked in the garage and go to work, while others they can no longer afford to live on their own or do not even have the ability to save enough money as collateral And very little can afford a vacation. Also, the uncertainty about the current scenario and what may happen after the month of October has made some couples Refusal to create a family in the near future.,
Today, Generation Z and Millennials were known for their climate commitment, but inflation and facing its consequences for the first time in their lives has led them to reorder their priorities. However, he says that the current situation, to a certain extent, The consequences of the climate crisis and combating it can solve both problemsAccording to Josh Ryan-Collins, head of finance and macroeconomics at UCL’s Institute for Innovation and Public Purpose, decarbonization of the economy This will lead to the creation of well-paid jobs, reducing unemployment and raising the standard of living for citizens while helping to meet carbon neutrality goals. In the long run, all of this will contribute to tackling the cost-of-living crisis.Sostein Ryan-Collins.
Almost 800,000 British households have canceled their subscription to Netflix or Amazon Prime Video
Rising prices have prompted many UK households to review their bills to see where to cut back. Essentially, the streaming platform’s subscriptions are the first to drop. The number of households with access to at least one subscription video-on-demand service, according to the latest Broadcast Audience Research Board survey 382,000 fell from 19.57 million to 19.19 million in the second quarter of the year. done,
In the case of Netflix, that deduction translates into 206,000 families Those who left the platform between April and June. This could be due to the cost of living crisis or because the company has raised the price of its membership twice since 2020. The UK is currently its biggest production market, where it earns more than $1 billion a year, according to reports. guardianIt has a portfolio of clients in the country 17.08 million,
For its part, Prime Video has been reduced to 589,000 in three months, from 13.35 million to 12.76 millionAmazon’s streaming service will also increase the subscription price for UK customers starting in September. Sky’s platform Now TV currently has 2.07 million subscribers in the UK after losing 43,000 families in the second quarter of the year.
Despite the price hikes, other streaming players have seen their UK subscriber base increase between April and June. it is a matter Disney+ added 91,000 new households reached 6.62 million, while Apple TV + adds another 43,000Up to 1.60 million subscriptions.