New research reveals less than half of East Midlanders are happy with their quality of life
Less than half of East Midlanders are happy with their quality of life and 5% of people in the region are turning to food banks to make ends meet, according to new research by communications agency Grayling.
The firm’s State of the Region research reveals that improving financial security is the top priority for East Midlanders in 2023, with 42% expressing this aspiration. However, less than one in five (16%) think the recent budget has improved their financial situation, and less than half of East Midlanders (45%) are happy with their quality of life, falling to 38% for Leicester and Northampton locals.
As a result, only 19% of East Midlands residents have faith in the government, with 41% planning to vote Labour in the upcoming local elections, while only 18% will vote Conservative.
With inflation currently at 10.1% and interest rates up to 4.25%, nearly a quarter of East Midlanders (23%) are not expecting a pay rise this year, and a further 24% expect only a small increase.
87% of respondents have altered their supermarket purchasing habits to combat rising prices, with 5% of East Midlanders using food banks, which rises to 10% for Derby residents. To save money on their weekly food shop, 42% of East Midlanders have switched to more own brand products, and 27% purchase less altogether.
Patrick Fraser, head of the Southern Region at Grayling, said: “The cost-of-living crisis continues to have a significant impact in the East Midlands. With less than half of East Midlanders happy with their quality of life, it is understandable that improving financial security is a key aspiration for many. However, it is concerning that just 16% believe the recent budget announcement will positively impact their financial situation.
“As East Midlanders continue to face financial challenges, it’s important for businesses to understand their priorities and adapt to their changing needs. This includes offering affordable options for products and services.”