The Fort Worth Press - UK cost-of-living crisis unmoved by queen's death

USD -
AED 3.67302
AFN 68.291665
ALL 93.057229
AMD 389.770539
ANG 1.808359
AOA 911.999622
ARS 1001.919444
AUD 1.544092
AWG 1.795
AZN 1.703104
BAM 1.855228
BBD 2.025868
BDT 119.90021
BGN 1.85709
BHD 0.376614
BIF 2963.296747
BMD 1
BND 1.345185
BOB 6.933055
BRL 5.796203
BSD 1.003315
BTN 84.297531
BWP 13.716757
BYN 3.283486
BYR 19600
BZD 2.022453
CAD 1.407425
CDF 2865.00031
CHF 0.88767
CLF 0.035506
CLP 979.709938
CNY 7.233902
CNH 7.240503
COP 4425.67
CRC 510.64839
CUC 1
CUP 26.5
CVE 104.59491
CZK 23.954978
DJF 178.66544
DKK 7.07361
DOP 60.456292
DZD 133.234044
EGP 49.302899
ERN 15
ETB 121.511455
EUR 0.94838
FJD 2.27595
FKP 0.789317
GBP 0.79132
GEL 2.734973
GGP 0.789317
GHS 16.027888
GIP 0.789317
GMD 71.000285
GNF 8646.941079
GTQ 7.74893
GYD 209.812896
HKD 7.784165
HNL 25.339847
HRK 7.133259
HTG 131.909727
HUF 386.359922
IDR 15839.3
ILS 3.749297
IMP 0.789317
INR 84.42825
IQD 1314.3429
IRR 42092.496279
ISK 137.610055
JEP 0.789317
JMD 159.351136
JOD 0.7091
JPY 154.760969
KES 129.929869
KGS 86.496657
KHR 4053.579729
KMF 466.575022
KPW 899.999621
KRW 1392.550147
KWD 0.30754
KYD 0.836179
KZT 498.615064
LAK 22046.736197
LBP 89848.180874
LKR 293.122747
LRD 184.608672
LSL 18.253487
LTL 2.95274
LVL 0.60489
LYD 4.900375
MAD 10.002609
MDL 18.230627
MGA 4667.201055
MKD 58.441866
MMK 3247.960992
MNT 3397.999946
MOP 8.045323
MRU 40.054641
MUR 47.210062
MVR 15.450134
MWK 1739.868711
MXN 20.342601
MYR 4.466497
MZN 63.902545
NAD 18.253747
NGN 1666.779868
NIO 36.921442
NOK 11.0727
NPR 134.880831
NZD 1.70441
OMR 0.38465
PAB 1.003296
PEN 3.808919
PGK 4.034511
PHP 58.72503
PKR 278.580996
PLN 4.092995
PYG 7828.648128
QAR 3.65762
RON 4.721202
RSD 110.989157
RUB 99.885908
RWF 1378.077124
SAR 3.755975
SBD 8.390419
SCR 13.839562
SDG 601.503045
SEK 10.965735
SGD 1.34174
SHP 0.789317
SLE 22.600719
SLL 20969.504736
SOS 573.447802
SRD 35.315503
STD 20697.981008
SVC 8.779169
SYP 2512.529858
SZL 18.247358
THB 34.737974
TJS 10.695389
TMT 3.51
TND 3.165498
TOP 2.342103
TRY 34.491635
TTD 6.812749
TWD 32.519502
TZS 2660.000224
UAH 41.44503
UGX 3682.325879
UYU 43.055121
UZS 12842.792233
VES 45.732015
VND 25375
VUV 118.722009
WST 2.791591
XAF 622.255635
XAG 0.03262
XAU 0.000386
XCD 2.70255
XDR 0.755845
XOF 622.229073
XPF 113.127366
YER 249.874979
ZAR 18.12535
ZMK 9001.198001
ZMW 27.546563
ZWL 321.999592
  • BCC

    -0.2600

    140.09

    -0.19%

  • SCS

    -0.0400

    13.23

    -0.3%

  • NGG

    0.3800

    62.75

    +0.61%

  • GSK

    -0.6509

    33.35

    -1.95%

  • AZN

    -1.8100

    63.23

    -2.86%

  • RIO

    0.5500

    60.98

    +0.9%

  • CMSD

    0.0822

    24.44

    +0.34%

  • BCE

    -0.0200

    26.82

    -0.07%

  • BTI

    0.9000

    36.39

    +2.47%

  • CMSC

    0.0200

    24.57

    +0.08%

  • JRI

    0.0235

    13.1

    +0.18%

  • RYCEF

    0.0400

    6.82

    +0.59%

  • VOD

    0.0900

    8.77

    +1.03%

  • RELX

    -1.5000

    44.45

    -3.37%

  • RBGPF

    61.8400

    61.84

    +100%

  • BP

    -0.0700

    28.98

    -0.24%

UK cost-of-living crisis unmoved by queen's death
UK cost-of-living crisis unmoved by queen's death / Photo: © AFP/File

UK cost-of-living crisis unmoved by queen's death

Many things are on pause while Britain mourns Queen Elizabeth II, but the concerns of shoppers at a popular London market highlighted that the cost-of-living crisis was not among them.

Text size:

"Now, you have to check every invoice, and everybody checks the prices before buying anything," said 62-year-old Carole Bayllie, who sells kitchen utensils at a small market stall in Walthamstow, northeast London.

Spiralling inflation and falling purchasing power dominated the media and political agenda before the death of the queen, which was announced hours after new Prime Minister Liz Truss last week unveiled a landmark policy to freeze energy prices.

Politicians had only just returned from their summer break, which was consumed by the battle to replace Boris Johnson as prime minister, when they were once again sent home from parliament, unable to act on the crisis.

Aslam Jan, owner of a computer and money transfer store in the market, said that underlying economic concerns were hitting his business.

"You can see it in all the market: people don't spend as much money as before," Jan said.

"Most people who used to send money to help their family at home can't do it anymore."

The reason is the UK's 9.9 percent year-on-year inflation, with energy bills soaring since last winter.

Next to the food and clothes stalls, the main shopping street has two outlets of the same German discount supermarket, along with other low-cost stores that attract frugal shoppers.

Rumi Dimitrova, a 47-year-old Bulgarian cleaner, comes here "because the shops are less expensive."

"Since Covid it is difficult, but now it is becoming very difficult," she said, as she left a used clothing store empty-handed.

Dimitrova gets by with the help of her son, who also lives in London, she explained.

- Harsh reality -

Stall owner Bayllie said she would cut back on heating her home this winter to save money.

"Obviously (the queen's death) is very sad, a lot of people respected her, but the facts of life don't change," said Gary Nash, founder of "Eat or Heat" food banks.

His organisation, created during the 2008 financial crisis, has several food distribution sites, including one near the Walthamstow market, that cater for hundreds of people each month.

Those using the service are "mostly people who are working full time but still can't pay their bills," he said.

Wage increases in certain sectors are still far from offsetting the effects of inflation, which could rise further in the coming months.

"Average wages have been falling for seven months now and that is set to carry on into next year too," Lalitha Try, an inequality researcher at the Resolution Foundation think-tank, said ahead of Truss's announcement, the impact of which is so far unknown.

Average wages could fall twice as much as during the 2008 financial crisis, she warned.

With recession predicted before the end of the year, her think-tank expects three million people will fall into poverty, although the measures announced by the government could limit the damage.

- People 'worried' -

Political debate, which had been febrile before the queen's death, has been put on hold until at least Monday, when the queen is laid to rest.

Labour MPs have been instructed by the party leadership to speak to the media only to pay tribute to the queen, according to an internal memo revealed by The Guardian newspaper.

In the midst of the tributes to Elizabeth II, a few rare voices regretted that politicians were focussed on her death and parliament paused despite the urgency of the economic crisis.

Finance Minister Kwasi Kwarteng is still expected to make a budget statement on Friday to clarify the support measures announced by Truss, which are likely to be worth more than £100 billion ($115 billion).

"I know they had to stop parliament because of the protocol, but people are still worried and they should have compromised," said Bayllie.

J.Barnes--TFWP