2022-05-17 11:27Press release

Rising energy prices affecting nine out of ten Brits

Energy prices on the riseEnergy prices on the rise

Buying everyday products and living in the UK is getting all the more expensive, with higher energy prices and rising inflation adding to the situation. PriceRunner surveyed more than 2 000 Brits and found that 89 percent had been affected by the higher energy prices, where increased food and fuel prices had impacted wallets the most.

In a survey of 2 219 Brits, carried out by YouGov on behalf of PriceRunner, 89% of all respondents said they had been affected by higher energy prices to some extent. Of these, 58% had been affected to some or a great extent and only 5% had not been affected at all.

“I'm not surprised by these numbers, but I am worried. We know that a majority of Brits have been affected by higher energy prices in some way, where one in four have been greatly affected. This situation is taking a toll on almost everyone in the UK right now.” said Christine Gouldthorp, Consumer Expert at PriceRunner.

Christine Gouldthorp, Consumer Expert

Christine Gouldthorp, Consumer Expert

Reducing electricity use and shopping expenses to cut spending

One way to cut costs have been to try and reduce household expenses, mainly by using less electricity (answered by 45% of all respondents), reducing shopping expenses (38% of all respondents), using less gas (35% of all respondents), spending less on food (32% of all respondents), reducing petrol usage (30% of all respondents) and 3% asked their boss for a raise. On the other hand, one in five (or 22%) had not tried to reduce their household expenses at all.  

When asked how Brits had notied the effects of rising inflation in the UK, 89% answered increased food prices. 59% of all respondents felt as if their money didn't stretch as far. Half (or 49% of all respondents) said products in general cost more and 13% said that their savings on the stock market had decreased in value. Only 4% said they had not noticed any effects at all of higher inflation.

Looking at the details, the most noticeable price increases had been found on:
(respondents could select all answers that applied to their situation)

  • 85%: Food
  • 78%: Fuel
  • 30%: Clothing & shoes
  • 29%: Toilet paper & nappies
  • 25%: Health & beauty products
  • 23%: Alcohol
  • 14%: Electronics & white goods
  • 13%: Furniture and home decorations
  • 8%: Sports & outdoor products
  • 7%: Toys
  • 2%: Haven't noticed any price increases

Even though the most evident effect of inflation is increased food prices, which almost nine out of ten answered, only a third have reduced their own food expenses. Many families are already spending as little as possible on food and it is very hard to cut down even further." said Christine Gouldthorp.

Price increases April 2020 - April 2022

Comparing prices on more than 2,6 million products from 6100 UK shops, PriceRunner took a look at some of the most popular products on their site to see which products have increased in price the most.

The main price increases found between April 2020 and April 2022 on some of the most purchased product categories were found within consumer tech, kitchen products and whitegoods.

Looking at everyday consumer products such as digital cameras, washing machines and cookers, some of these have doubled in price over the past two years. The average washing machine now costs 49 percent more than in April 2020.” said Christine Gouldthorp.

Some of the most noticeable price increases during the past two years were: 

  • Graphics cards: 107% or £261
  • Digital cameras: 60% or £268
  • Washing machines: 49% or £161
  • Monitors: 39% or £96
  • Cookers: 27% or £334
  • Tablets: 22% or £74
  • Tumble dryer: 19% or £72
  • Toys: 18% or £3
  • Vacuum cleaners: 11% or £18
  • Coffee makers: 10% or £7
  • Speakers: 9% or £15
  • TV’s: 8% or £49
  • Headphones and gaming headsets: 8% or £3



About PriceRunner

PriceRunner was founded in 1999 and is the UK’s largest comparison service with 2.6 million products from 6,100 retailers in 21 different countries, who all deliver to the UK. The company has roughly 200 employees in Stockholm, Sweden and Nykøbing Falster, Denmark. Our services are used every month by consumers who can compare products, prices, specifications, read professional product tests and consumer reviews of products and retailers. PriceRunner is owned by Klarna. PriceRunner is a completely independent company. We are not owned by any manufacturers and are not dependent on them, retailers or other organisations with an interest in providing biased information. Our goal is to help consumers find the right products to the best prices. Every month, we help consumers find better and cheaper products while saving money by using PriceRunner's services.

Contacts

Christine Gouldthorp
Consumer Expert
Christine Gouldthorp
Consumer Expert and press contact for PriceRunner UK