People living in wealthier parts of Bristol are also feeling the cost of living squeeze.
Official figures published at the end of January showed the cost of living rose by 5.4 per cent in the 12 months to December - the most rapid increase for 30 years.
With household finances being stretched further across the board, the Bank of England is forecasting inflation to hit six per cent in April.
READ MORE: BristolLive's campaign shines a light on cost of living crisis
Many people are also increasingly worried about the rising costs of utility bills, particularly after the energy price cap rose by 54 per cent, and Chancellor Rishi Sunak has warned middle earners will also "feel the pinch" of gas prices.
Even in one of Bristol's most affluent areas, residents and traders have voiced concerns as their bills rise.
Ellie Quinton, a third year law student at the University of Bristol, rents a basement flat with three friends in Clifton and is someone who has noticed the cost of living going up.
"I have definitely noticed the cost of things going up, especially rent prices," said the 23-year-old said during BristolLive's visit to the neighbourhood. "A lot of rents around here are quite high and the cheaper ones are too far from the university.
"I am paying £540 a month for the flat, which is on the lower end of prices - a lot of them are around £600 a month or more.
"In second year, I was paying £400 a month so it is a big increase."
'We wear lots of jumpers'
The student said that she had also noticed the cost of food going up, adding that basic products are quite expensive now.
Their internet bill has just gone up to £43 a month, she continued, while they are spending £60 a month on heating.
"Our heating bill is very expensive, but our place is quite cold because it is a basement flat," she said. "It is £60 a month but we try not to have the heating on too much and wear lots of jumpers.
"It is definitely difficult, I have to rely on my parents a lot."
Ms Quinton said that the cost of living in Bristol makes her less likely to stay in the city after graduating, adding it is very hard for young graduates to stay in Bristol when starting salaries tend to be under £25,000.
"I do not think I would be able to afford it after university," she said. "It is scary, especially home ownership is looking less and less likely for my generation.
"Salaries are not enough to cover your expenses.
"A salary of £20,000 or £25,000 is not enough in a place like Bristol or London."
Chris Williamson is one of the owners of Truce, a contemporary design store on Princess Victoria Street.
Mr Williamson said they had noticed the cost of running the shop go up, particularly around supplies and deliveries.
He said footfall had been lower than expected so far this year, but that it was too early to say whether that is because of coronavirus or because people are trying to save.
"Things are more expensive now than they were one or two years ago," he said. "There are different factors that are playing into it.
"We live outside Bristol and it is more expensive to fill up the tank now, probably around £10 a week more in fuel costs just to get to work.
"It is not something that has hit us completely yet."
Mr Williamson said that he was worried about the cost of living going up as he wants people to have the extra income to shop in independent stores.
"It is definitely a concern and it will change what we do as a business, the type of product that we sell," he continued. "Maybe finding a more budget product range, that is something we will need to think about.
"Hopefully it won't have a big or long-term impact."
A Clifton resident - who didn't wish to be named - said her electricity bill had gone up twice in recent months and is now £30 a month more expensive.
The 70-year-old said her household's gas bill had not gone up yet, adding they were trying not to have their heating on much to save the planet, as well as saving money.
The pensioner said she had noticed the price of essentials going up in the supermarket, giving the example of fruit and veg.
"I make my own bread and I have noticed the cost of flour has gone up, and also butter," she continued. "My shopping bill is more than it used to be.
"I am worried for the youngsters more than me, I will manage.
"The issue is the cost of living is going up but wages are not.
"We do not have a mortgage anymore, but I can remember in the 70s when it went up 15 per cent and I had just had a baby, it was really hard.
"I would hate to see that happen again.
"I suspect that if you looked at restaurants here on a Saturday, it would not look like people are starting to struggle yet, but you do not know what people finances are really like."
A pensioner - who was visiting Clifton from the North East - said that everything is going up in price and said that the most noticeable thing was petrol.
She said that it must be hard for people who rely on their cars to get to work when petrol sometimes is now £1.50 per litre.
"It is bad," she continued. "I have not noticed it on my food shop and my heating has not gone up at all.
"I am not worried about things going up in price, my concern is for people who are struggling financially.
"If you are on a tight budget, it would be a worrying time.
"I will be alright, but not everyone is in the same financial situation - it is hard."
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