TY - GEN
T1 - Unveiling the Impact of the Cost of Living Crisis
T2 - Deepening Poverty and Policy Solutions
AU - Ögtem-Young, Özlem
PY - 2024/10/10
Y1 - 2024/10/10
N2 - In 2022, inflation rates reached historically high levels, causing the price of essentials, particularly food and energy, to soar resulting in a severe cost of living crisis. The cost of living crisis has created significant challenges for many households. However, it has disproportionately impacted the everyday lives of individuals from low-income households, pushing them further into poverty. According to JRF's report published in January 2023, over 7 million households were unable to afford essentials such as food, clothing, and shelter in the winter of 2022/2023. Although the inflation rate is now on a declining trend, it does not reverse the lasting effects of the cost of living crisis for people in low-income households who are at the intersections of multiple inequalities of class, income, gender, ‘race’/ethnicity, age, disability, etc.
AB - In 2022, inflation rates reached historically high levels, causing the price of essentials, particularly food and energy, to soar resulting in a severe cost of living crisis. The cost of living crisis has created significant challenges for many households. However, it has disproportionately impacted the everyday lives of individuals from low-income households, pushing them further into poverty. According to JRF's report published in January 2023, over 7 million households were unable to afford essentials such as food, clothing, and shelter in the winter of 2022/2023. Although the inflation rate is now on a declining trend, it does not reverse the lasting effects of the cost of living crisis for people in low-income households who are at the intersections of multiple inequalities of class, income, gender, ‘race’/ethnicity, age, disability, etc.
KW - Cost of living crisis
KW - poverty
KW - inequality
KW - policy reform
M3 - Other contribution
PB - University of Birmingham
ER -