AROUND one in two Islanders who took part in a recent survey had found it difficult to meet living costs over the last year – while one in four had received support for everyday expenses – according to newly-released figures.
Island Global Research has published the results of its latest cost of living survey completed by 2,660 residents across Jersey, Guernsey, the Isle of Man and Gibraltar between 12 April and 7 May.
The report follows on from a similar IGR study conducted in 2022, which sought to understand the continued impact of changes to the cost of living among islanders.
Of the 672 Jersey residents who took part in the survey:
– 10% cannot afford costs and often have to go without essentials
– 48% of those who cannot afford costs rent their property
– 13% could not afford an unexpected but necessary expense of £100
– Around two in five would struggle to afford a £100 per month increase in living expenses
Additionally;
– 49% found it difficult to meet living costs in the last 12 months
– 36% of people have found it difficult to meet the cost of food, up six percentage points on 2022
– One in four have received support to finance their everyday living expenses in the last six months
– 88% agreed the rising cost of living was impacting their household
– Around a third are extremely concerned about the future impact changes to cost of living will have on their household
– 59% are very concerned about poverty and inequality in living standards today
– 55% think inequality in living standards will get a lot bigger in the future
Commenting on the results, the company said: “Changes to the cost of living are a global issue, but one that impacts each and every one of us in our day-to-day lives. It is perhaps of greater concern now than at any time in over a decade, with frequent coverage in the local and national media over the past few years.”
It added that it hoped the insights provided by the survey “can help our communities make informed decisions, as concerns and uncertainties remain around the future of the cost of living”.
