Latest survey shows cost of living remains a challenge for significant number of NI consumers
- Love Ballymena
- Apr 9
- 5 min read
The Consumer Council released their latest Pulse Survey report yesterday, Tuesday, April 8.
The quarterly research looks at the impact the cost of living crisis is having on consumers, the demands it places on their household budget, how it is affecting their spending and what actions they are taking to cope financially.
Key findings from the research carried out in December 2024 found that:
· Two in five (40%) consumers felt that their household was worse off compared to 12 months ago. This was noticeably better than in December 2023 (53%), but similar to the Pulse Surveys from August/September 2024 (43%) and June 2024 (44%).
· Almost a third (32%) of consumers believed that their household was better off when compared to 12 months ago. This was 11% higher than the figure from December 2023 (21%) but has remained around the 30% mark in the previous two Pulse Surveys.
· Looking ahead, more than a quarter (26%) of consumers felt that their household would be worse off in 12 months’ time, down from 36% in December 2023. Whilst around a third (32%) of respondents expected their household to be better off in 12 months’ time, up from 26% in December 2023.
· However, three in ten (30%) consumers stated that they have £150 or less remaining each month after their mortgage/rent and all essential bills have been paid. With 15% stating that they have less than £50 or less remaining each month after their mortgage/rent and all essential bills have been paid.
· Nearly half (46%) of consumers agreed that they find dealing with financial matters a burden, while more than a third (35%) agreed that recently their mental health has been negatively affected by their financial position.
· About three in five (58%) consumers stated that they have had to cut back on spending on essentials after their mortgage/rent and any loan or overdraft payments have been made.
Noleen Charnley, Head of Insight and Investigations at the Consumer Council, said:
“The Consumer Council has been conducting quarterly Pulse Surveys since 2022 as a way to maintain a regular ‘temperature check’ on consumers’ perceptions and experiences during the cost of living crisis in Northern Ireland.
“In the latest Pulse Survey, almost a third (32%) of Northern Ireland consumers believed that their household was better off when compared to 12 months ago. However, 40% still feel that their household is worse off than it was 12 months ago and 46% find dealing with their finances to be a burden.
“While our most recent Household Expenditure Tracker has identified a small rise in discretionary income for our lowest earning households, these households still have less than £52 on average each week after spending on basics. And 35% of respondents to the Pulse Survey have told us that recently their mental health has been negatively affected by their financial position, so for many Northern Ireland consumers the economic climate continues to cause concern.
“To help consumers, the Consumer Council offers a variety of support and advice including interactive tools to compare energy costs, and advice on how to reduce your bills and make your money go further at www.consumercouncil.org.uk.”
You can view the latest Pulse Survey here.
Key Outcomes from the December 2024 Pulse Survey
The Pulse Survey, conducted in December 2024 with 1,000 Northern Ireland residents, provides insights into household financial positions, coping mechanisms, and consumer concerns. Here are the key findings:
Current Financial Position Compared to 12 Months Ago
40% of respondents felt their household was worse off compared to December 2023, an improvement from 53% in December 2023, 44% in June 2024, and 43% in August/September 2024.
32% believed they were better off, up from 21% in December 2023.
Main reasons for being worse off: general cost of living increase (82%), food/grocery costs (76%), and energy bills (74%).
Vulnerable groups (females, C2DE socio-economic group, disabled individuals, and benefit recipients) were more likely to report being worse off.
Expectations for Financial Position in 12 Months’ Time
26% expected to be worse off in December 2025, down from 36% in December 2023.
32% anticipated being better off, up from 26% in December 2023.
Disabled individuals were more pessimistic (37% expected to be worse off vs. 22% of non-disabled).
Coping with Bills and Essentials
73% could keep up with bills and buy essentials, up slightly from 69% in December 2023.
15% had £50 or less left monthly after essentials, with vulnerable groups (females: 21%, disabled: 33%, benefit recipients: 32%) more affected.
31% went without when facing unavoidable expenses, while 28% used credit cards and 27% made budget cutbacks.
Managing Finances
56% had savings for unexpected expenses, but 27% did not, with females (37%), C2DE (34%), and disabled (43%) less likely to have savings.
46% found financial matters burdensome, and 35% reported negative mental health impacts from their financial situation, particularly among females (40%), disabled (49%), and benefit recipients (49%).
Concern About Prices
94% were concerned about home energy prices, 93% about food prices, and 82% about petrol/diesel prices.
“Very concerned” responses decreased since December 2023 (e.g., energy: 40% vs. 49%).
Behavioral Changes and Cutbacks
58% cut back on essentials after paying mortgage/rent and loans.
Common changes: reduced energy use (34%), cooking at home (33%), and socializing less (32%).
Biggest Consumer Issues (Last 3 Months)
Household bills (32%), cost of living crisis (29%), and food prices (23%) topped the list.
Sources of Budgeting/Saving Information
Websites (29%) and friends/family (26%) were the most used sources; 30% didn’t seek such information.
Breakdown of Responses by Local Government District (LGD)
Below is a summary of the variation across Northern Ireland’s 11 districts.
Financial Position Worse Off Than 12 Months Ago (Overall: 40%)
Highest: Newry, Mourne and Down (65%)
Lowest: Antrim and Newtownabbey (28%), Derry City and Strabane (28%)
Notable: Causeway Coast and Glens (50%), Mid Ulster (47%)
Expect to Be Worse Off in 12 Months’ Time (Overall: 26%)
Highest: Fermanagh and Omagh (41%)
Lowest: Derry City and Strabane (12%)
Notable: Newry, Mourne and Down (35%), Lisburn and Castlereagh (32%)
Can Keep Up with Bills and Buy Essentials (Overall: 73%)
Highest: Ards and North Down (86%)
Lowest: Newry, Mourne and Down (62%)
Notable: Antrim and Newtownabbey (79%), Mid and East Antrim (77%)
Less Than £50 Left After Essentials (Overall: 15%)
Highest: Armagh City, Banbridge and Craigavon (22%), Causeway Coast and Glens (22%)
Lowest: Derry City and Strabane (6%)
Notable: Mid Ulster (19%), Belfast City (18%)
No Savings for Unexpected Expenses (Overall: 27%)
Highest: Newry, Mourne and Down (40%)
Lowest: Ards and North Down (12%)
Notable: Causeway Coast and Glens (38%), Mid Ulster (37%)
Financial Matters a Burden (Overall: 46%)
Highest: Derry City and Strabane (58%), Fermanagh and Omagh (58%), Newry, Mourne and Down (58%)
Lowest: Ards and North Down (27%)
Notable: Belfast City (51%)
Mental Health Negatively Affected by Finances (Overall: 35%)
Highest: Armagh City, Banbridge and Craigavon (43%)
Lowest: Lisburn and Castlereagh (17%)
Notable: Belfast City (42%), Derry City and Strabane (42%), Newry, Mourne and Down (41%)
Cut Back on Essentials After Mortgage/Rent and Loans (Overall: 58%)
Highest: Newry, Mourne and Down (68%)
Lowest: Lisburn and Castlereagh (40%)
Notable: Belfast City (64%), Armagh City, Banbridge and Craigavon (63%)
Observations
Newry, Mourne and Down consistently showed higher financial strain (e.g., 65% worse off, 68% cutting back on essentials), suggesting localized economic challenges.
Ards and North Down appeared more resilient (e.g., 86% could keep up with bills, 12% lacked savings).
Derry City and Strabane had mixed outcomes: low pessimism about the future (12%) but high burden from financial matters (58%).
