KevinPeachey is a personal finance correspondent.

Shopper buying items with reduced pricesImage source, Getty Images

According to a survey, people are cutting back on food and car journeys in order to save money.

More than half of the people asked had not eaten in a while.

The findings show that prices have risen at their fastest rate in 40 years.

People are spending less on clothes and socializing. The mental health of some people has been affected.

Government support provided so far was not sufficient according to two-thirds of the people surveyed.

The economic climate is affecting lives and financial, physical and mental health according to a survey commissioned by the British Broadcasting Corporation.

According to the findings, more than eight in 10 people are worried about the rising cost of living because of the increase in domestic energy, petrol, and food prices.

Since the start of the year, the number of people who said they were worried has gone up.

Two thirds of those with worries said this was having a negative effect on their mental health Half of them said their physical health had been affected.

Changes are being made to manage their budgets. According to the survey, it can be as simple as getting a haircut less often.

The changes have been more fundamental for a charity worker.

"We get together with the family every Sunday, religiously, for Sunday roast, but my family and other families are growing their own vegetables," she said.

Image caption, Janine Colwill says people in her area are constantly looking for ways to save money

People who didn't worry about these things before are now worried about them a lot.

She said she didn't think people would rely on a food bank or grow their own because of advances in technology.

According to the survey, people are saving and managing their money. There are the findings.

  • Some 82% of those asked had switched off lights in the previous week to save money
  • Trips taken in the car had been limited to varying degrees in the previous six months by 72% of those asked
  • A large majority (84%) said they had spent less on their clothes at some point in the previous six months

The majority of people expect to work more hours in the next six months.

The rate at which prices are rising is the fastest in forty years. The Bank of England increased interest rates on Thursday to their highest level in 13 years.

Global factors such as oil, gas and food are driving the situation.

The cost of filling a family car with petrol and diesel has gone up. The Institute of Grocery Distribution predicts food prices will go up 15% this summer as households pay more for staple items.

A typical household in England, Wales and Scotland is likely to see a rise in its annual domestic gas and electricity bill of £800 in October and another 700 in April.

The government has announced a package of financial support for low-income people. There will be a discount on all energy bills in October, as well as payments totalling £650 to people on means tested benefits. Older people will get more this winter.

The survey shows that most people think that support is not enough to help people with rising costs.

The Chief Secretary to the Treasury said vulnerable households would receive over a thousand dollars in additional support.

He said the first payments would come in July and that they would continue into the autumn to offset the rising cost of living.

"That, of course, is yet to filter through to people, which is why I think people want more support," he said.

It will be clear to people that this will be a comprehensive package.

The Financial Regulator warned lenders that they need to do more to help those in financial difficulty and vulnerable customers because of the impact of rising household costs.

The Financial Conduct Authority believes that early action is important for those struggling with debt.

  • HM Treasury
  • Money
  • Personal finance
  • Cost of living