Commissioned with the Centre for Economics and Business Research (Cebr) and supported by consumer insights from among 3,000 adults in the UK, the annual update of the combined LifeSearch Health, Wealth and Happiness Index reveals further falls over the last six months, with the Index reaching 79.0 at the end of the third quarter 2022 (the lowest level in the series since Q1 2021). The Happiness element of the Index saw the greatest falls in this period (8.3 points down), reflecting the acceleration of the cost-of-living crisis and the period of national mourning for the Queen.
The study from LifeSearch, the UK’s leading life insurance broker, has also found the severe consequences that many Brits look set to face this winter due to the cost-of-living crisis:
Nearly one half (45%) of adults, rising to 52% of Londoners, anticipate they may use the majority of their savings (rising to 62% of 18–34-year-olds) while a third (33%) will have significantly more debt (rising again to 39% in the Capital).