The average Nottingham worker is almost £100 a month poorer than last year according to new research from a campaign group. With inflation having risen for much of the year, people in the city are spending increasing amounts on petrol, groceries and energy.
But wages are not rising as fast, with the data showing that nominal wages in Nottingham rose by 1.7% between January and October 2022. The research has come from the Centre for Cities, which describes itself as "the leading think tank dedicated to improving the economies of the UK's largest cities and towns."
The centre has been running a cost of living tracker across the country and in its latest update on December 14, the centre's research shows that inflation in Nottingham was 11.4% in November. The think tank uses data from sources including HMRC and the ONS, with its latest update also showing that the average Nottingham worker was £99 a month worse off in October 2022 than the previous year.
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Between the third quarter of 2021 and the third quarter of this year, the Centre for Cities says that the average person in Nottingham was spending around £17 more on petrol, around £8 more on groceries and around £56 more on energy. In a report on the cost of living published in July, the Centre for Cities said there was a North-South divide in how it was affecting the UK.
The think tank's report said: "Inflation is worryingly high in all corners of the country, but the cost of living crisis is hitting some places harder than others. It is the UK’s poorest cities – those that are the least able to cope – that are likely to be the most negatively impacted by the downturn on living standards.
Every corner of the UK is experiencing a cost of living crisis but the burden will be felt unevenly across places. Those who live in cities and large towns in the North and the Midlands, many of whom entered the crisis in an already precarious position, are likely to see their financial situation deteriorate more than average, and more than cities and large towns in the South.
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