Global Scans · Cost of Living · Weekly Summary

• The cost of living payment will benefit more than 680,000 households in Scotland, more than 400,000 in Wales and 300,000 in Northern Ireland on means-tested benefits. The Guardian
• The return of student debt payments in the United States will add more financial stress and impede spending at a time when many consumers are struggling with the higher cost of living. Deloitte Insights
• Across Europe many will be feeling battered by the cost of living crisis, emotionally fatigued by escalating war, and overwhelmed by the ever-looming threat of the climate crisis. CityAM
• In South Africa, the cost of living might vary widely, but it can be surprisingly reasonable for students who are pursuing their education at a distance. Leverage Edu
• The Bonza Effect will bring more considerable savings to domestic travelers in 2024, particularly as many Australians are still battling with the high cost of living pressures that have endured since early last year. Simple Flying
• Cost of living pressures and NHS backlogs are creating a two-tier health service in England, where people who cannot afford to pay wait longer for care, warns a watchdog. Healthcare Skills Training International
• Nigerians should expect respite on the cost of living crisis as analysts see the pressure easing in 2024 compared to the previous year. Businessday NG
• The cost of living crisis cast a gloom over 2023 and, as inflation slows, residents and businesses alike will be hoping for a sunnier outlook in 2024. CityAM
• This year will be the year of reckoning for startups across the Middle East and North Africa as global inflation continues to rise and the cost of living impacts purchasing power. Wamda
• There are numerous reasons to expect consumer spending growth to slow in 2024: targeted subsidy rationalization, high cost of living and inflation risk as well as higher service tax rate for some services. Focus Malaysia
• Economic think-tank the Resolution Foundation said in a recent assessment that people who have seen the price of everyday essentials shoot up during the cost of living crisis can expect some relief in 2024 as costs come down. Yahoo News
• An array of household bills will rise AND fall in 2024 - with a mixed bag for UK households amid the Cost of Living crisis. Birmingham Live
• Over 8 million households across the UK will receive the second of up to three payments from today, totalling up to £900 through 2023/24 with a further cost of living payment due to be made to eligible households by Spring in 2024. GOV.UK
• The cost of living crisis threatens to stunt children's development and increase their risk of respiratory illness, paediatricians at the Royal College of Paediatrics and Child Health have warned. The Big Issue
• Even during a cost of living crisis, with interest rates and inflation high, the average spending per person for Christmas 2023 in the UK is expected to reach as much as £974. The Conversation
• Redirecting subsidies from fossil fuels towards solar and wind can help ease the cost of living crisis, along with climate and environmental risks, which is necessary for the smooth functioning of the global economy. Politico
• Cost of Living payments will be made across the final month of the year, at a time where UK households are desperately in need. Birmingham Live
• Shoppers are expected to snap up fewer items during the Black Friday sales, which reach their peak this weekend, as the cost of living crisis and strikes at some Amazon warehouses dent trading. The Guardian
• Households will begin facing the unpleasant reality by mid-2023 that they are back in a pre-COVID financial position that has deteriorated because inflated costs of living have significantly outstripped wage gains. DS News
• More price hikes in the face of rising cost of living could prove challenging, as U.S. households are delaying big-ticket purchases and cutting back on discretionary spending amid an uncertain economic outlook. Reuters
• Growth in the Australian economy is expected to remain below trend over 2023 and 2024 as cost-of-living pressures and higher interest rates continue to weigh on demand. Reserve Bank of Australia
• House prices in England and Wales will fall by 4% over the final quarter of 2023, thanks to inflation, the cost of living crisis and mortgage rates. Property Investor Today
• As the cost of living continues to be a concern for many Australian families, parents will no doubt be comparing the ongoing cost of childcare with the lack of fees in the public school system. The Conversation

Last updated: 11 February 2024