Latest Pulse Survey shows that cost of living remains a challenge for a significant number of Northern Ireland consumers

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, we 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."

You can view the latest Pulse Survey here: https://www.consumercouncil.org.uk/research/northern-ireland-consumers-…