Tuesday, 28 November 2023
New research from Nottingham University Business School (NUBS) has shown that the cost-of-living crisis impacted the mental wellbeing and social life of households in Nottinghamshire.
During 2021, energy bills, petrol prices and food costs have triggered a sharp increase in the cost of living in the UK. Consequently, many households’ disposable income has been reduced, and many families are struggling with the cost of energy and other necessities.
Though the struggle due to the rising cost of living is common to almost every household, research from NUBS found that pensioners, disabled and older people suffer the most.
The charities that can offer support to those struggling during this crisis reported experiencing an increased demand for their services, but unfortunately, the supply of donations or other support has decreased.
The responses from the local authorities were also found to be quite like the charities; their main struggle is having enough funds to tackle the negative consequences of the cost-of-living crisis.
The research, led by Dr Hafez Abdo at Nottingham University Business School, used online questionnaires, in-depth interviews, and round-table discussions to gather opinions on the depth of the crisis and effectiveness of policies put in place to mitigate the effects of the cost-of-living crisis.
The research team from Nottingham University Business School presented their findings at an event on Friday 24 November.
The researchers explain that more empirical evidence needs to be collected regarding people's perceptions of those policy measures and how people are affected by this rising cost of living crisis.
Dr Hafez Abdo, Associate Professor of Accounting, said of the findings: "The current cost-of-living crisis is rather wide and deep, it impacted almost every household in Nottinghamshire, stressed people and organisations. Support schemes offered by government suffers from a lack of awareness, and requires reviewing and reconstructing, and therefore the effectiveness is questionable."
The findings of this research were presented at a local launch event at the University of Nottingham on Friday 24 November.
The event was attended by representatives from local organizations, including Nottingham City Council, Rushcliffe Borough Council, Nottingham Financial Resilience Partnership, St Ann's Advice Centre, Citizens Advice Nottingham, and Nottingham Trent University added further credibility to the research findings and the need for a collaborative approach.
Story credits
More information is available from Dr Hafez Abdo on hafez.abdo@nottingham.ac.uk
Faith Pring - Media Relations Manager
Email: faith.pring@nottingham.ac.uk
Phone: 0115 748 4411
Location: University of Nottingham, University Park
Notes to editors:
About the University of Nottingham
Ranked 32 in Europe and 16th in the UK by the QS World University Rankings: Europe 2024, the University of Nottingham is a founding member of the Russell Group of research-intensive universities. Studying at the University of Nottingham is a life-changing experience, and we pride ourselves on unlocking the potential of our students. We have a pioneering spirit, expressed in the vision of our founder Sir Jesse Boot, which has seen us lead the way in establishing campuses in China and Malaysia - part of a globally connected network of education, research and industrial engagement.
Nottingham was crowned Sports University of the Year by The Times and Sunday Times Good University Guide 2024 – the third time it has been given the honour since 2018 – and by the Daily Mail University Guide 2024.
The university is among the best universities in the UK for the strength of our research, positioned seventh for research power in the UK according to REF 2021. The birthplace of discoveries such as MRI and ibuprofen, our innovations transform lives and tackle global problems such as sustainable food supplies, ending modern slavery, developing greener transport, and reducing reliance on fossil fuels.
The university is a major employer and industry partner - locally and globally - and our graduates are the second most targeted by the UK's top employers, according to The Graduate Market in 2022 report by High Fliers Research.
We lead the Universities for Nottingham initiative, in partnership with Nottingham Trent University, a pioneering collaboration between the city’s two world-class institutions to improve levels of prosperity, opportunity, sustainability, health and wellbeing for residents in the city and region we are proud to call home.
More news…