UK Threatened by Doomsday Cost of Living, Residents Eat Less

Jakarta, CNBC Indonesia – A surprising thing happened in England. A quarter of its citizens are now starting to reduce their food portions as a result of inflationary pressures and food scarcity.

The Bank of England even called it “apocalypse” for consumers. Four in five Britons now worry about the cost of living and how they meet basic needs, from food to energy.

According to a survey released by Sky News and published CNBC International, Tuesday (17/5/2022) of 2,000 Britons, 89% are concerned about how the cost of living crisis will affect the country as a whole over the next six months. While 83% are worried about their personal circumstances.

“Those with lower incomes are more worried. Those who earn under $25,000 describe themselves with ‘very concerned’ about how it will meet this year’s needs,” the survey reported.

“A catering company said schools were now facing a difficult decision whether to reduce meal sizes or use lower quality ingredients amid soaring prices.”

This increase in prices and scarcity was also exacerbated by the wars between Russia and Ukraine. How not, Ukraine is Europe’s “bread basket”.

As a result of the war with Russia, Ukraine was unable to export grains, fertilizers, and vegetable oil. Today the fighting is still going on and is destroying crop fields and disrupting the country’s crops.

“Sorry for the ‘doomsday’ that is happening right now, but this is our focus,” said Bank of England Governor Andrew Bailey.

“It’s not surprising to see food price inflation throughout the year running towards 10%,” the head of the country’s high-end food brand, Archie Norman, told radio. BBC.

The crisis itself was also exacerbated by India’s decision to ban wheat exports. Indonesia is also said to have played a role because it banned the export of palm oil.

Meanwhile, in the latest report, the UK recorded the highest inflation in the last 40 years at 9%. This was the highest since records began in 1989, surpassing the 8.4% annual increase seen in March 1992 and well above the 7% recorded in March 2022.

[Gambas:Video CNBC]