Which? is calling on businesses to do more to help consumers as an “alarming” number of households struggle with the financial and emotional impact of the cost-of-living crisis. The watchdog said supermarkets, telecoms and energy firms “can and should do more to help” after a survey suggested 65% of households had resorted to measures such as cutting back on essentials, selling items or dipping into savings to pay their bills.
This is the highest level the consumer group champion has recorded in the last decade and equates to an estimated 18.2 million households. The survey suggests an estimated 12.4 million households have had to cut back on essentials such as buying fewer groceries, medicines and school supplies and reducing their energy, water and telecoms usage to make ends meet - double the number of a year ago.
Some 10% of households said they had to sell or pawn their possessions to cover essential payments in the last month, compared to 5% this time last year. An estimated 2.5 million households said they missed or defaulted on a vital payment such as their mortgage, rent, credit card or another bill in the last month - up from 1.7 million last September.
