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Belfast mum Kerry Dodds and her sons, Joseph and Liam
Shoppers are looking for lower prices due to inflation
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A Leeds market, West Yorkshire
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Aine Toner Twitter Email
It seems that every week brought a new financial challenge for Northern Irish households as spiralling costs have affected hundreds of thousands, leaving considerably less in our wallets.
The adage that we are all in this together rings true: not everyone may be suffering from a cost-of-living crisis, or have much diminishment on their quality of life, but no one is immune.
The reality for many is that it’s getting increasingly harder to make ends meet until the end of each month as day-today costs rise.
Former Prime Minister Boris Johnson blamed Russian president Vladimir Putin for the worsening crisis.
Though some costs have been exacerbated by events in Ukraine, many were already in train before the invasion in February.
Inflation had hit a 30-year high of 5.4% in December 2021 and consumers were already looking for ways to cost of living proof their wallets.
The impact of Covid-19 is also keenly being felt as the post lockdown periods triggered a rebirth in demand, leading to swift price increases.
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Northern Ireland headline-makers of 2022: Full list
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Shoppers are looking for lower prices due to inflation
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Prices are being most noticed around fuel, food and energy. In 2022, increases in the cost of living, specifically utility costs, have impacted domestic and non-domestic settings. Within the first six months of this year, there had been five price increases in electricity and six price increases in gas.
In July, the cost of home heating oil was, on average, 113% higher than a year ago.
However, this was even unbelievably starker for gas consumers, whose average annual regulated supplier bill in Greater Belfast increased by 165% between January 2021 and July 2022.
In the past 12 months, the average price of 900 litres of oil has risen from £454 (50p per litre) to £850 (94p per litre).
Some relief came when the UK Government finally announced details of the single £600 payment to help with winter
fuel bills in January.
The scheme will combine two payments: a £400 payment promised by the Government to all households in the UK, plus an additional £200 payment, announced in November to address the high number of home heating oil users in Northern Ireland.
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