Britons fear the worst is still to come in cost-of-living crisis

Millions of households expect their housing costs to go up this year (PA Archive)

Two thirds of Britons expect the cost-of-living crisis to get worse, a new poll revealed on Tuesday.

But the Ipsos survey for The Standard found growing optimism that things will get better by the end of the year.

Sixty-seven per cent of adults believe that the worst is still to come with the cost-of-living woes gripping Britain.

Millions of households are braced for mortgage bills, or rent, to rise, inflation is pushing up food and other prices, and energy costs have soared even with the Government’s cap.

Twenty-seven per cent, though, believe the impact of the cost-of-living crisis has already peaked.

Fifty-seven per cent think the general economic conditions in Britain will get worse over the next year, with 24 per cent expecting them to improve, and 16 per cent stay the same, giving a net Economic Optimism score of -33.

However, this is noticeably better than in December, when 69 per cent thought things would get worse over the following 12 months, 14 per cent improve, 14 per cent stay the same, with a net score of -55.

Around a third of adults, 31 per cent, say they and their family would be better off under a Labour government, with 16 per cent citing a Tory administration, and 46 per cent saying it would make no difference which party was running the country.

Gideon Skinner, Head of Political Research at Ipsos UK, said: “Britons remain very worried about the cost of living, especially young people.

“However, looking further ahead the entrenched economic pessimism of the last year is showing signs of getting slightly less gloomy but this is isn’t as yet benefiting the Conservatives much, as Britons are twice as likely to think they would be better off under a Labour government.”

Ipsos interviewed 1,001 adults across Britain by phone between January 18 and 25. Data are weighted.