February 17th, 2023, Lesley Simeon
McDonald’s has announced it is increasing prices of five of its menu items in the UK, close to a year after its cheeseburger got costlier for the first time in more than a decade. With inflation and cost-of-living pressures looming, the fast-food chain is the latest company to hike prices. For instance, while Premier Foods has made its offerings dearer by up to 140%, supermarkets like Asda and Morrisons made headlines for price increases as well.
According to YouGov Profiles - which covers demographic, psychographic, attitudinal and behavioral consumer metrics - more than half (54%) of Britons expect their household’s financial situation to get worse than what it is currently, in the next 12 months.
How do Britons plan to deal with rising costs?
Data from Profiles shows that 21% of the general Great Britain (GB) population is likely to reduce spending on eating out (including takeaway) as a result of the cost-of-living increases. Cutting down spending on utilities (8%), clothes/accessories (8%) and leisure travel and groceries (7% each) wrap up the top five areas Britons intend to cut expenditure on.
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for GB is nationally and weighted by age, gender, education, region, and race. Learn more about Profiles.
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