The Office for National Statistics (ONS) has unveiled an online tool to provide the public with information on the cost of living.
It said the tool, named Cost of living latest insights, has been developed to help people explore the wide range of published information on the topic and to get a sense of how it affects them.
It includes three interactive elements: a personal inflation calculator focused on what individuals spend their money on; a function to compare living standards within a local authority area with others and the UK average; and a tool to show how the cost of living affects people in different ways.
There is also a range of information grouped by topics on spending, energy, housing, society, work and business.
Explain and visualise
“Cost of living is a complex and constantly changing issue,” the ONS said. “We will use this tool to explain changes in the cost of living, as well as to visualise data. The ONS will be providing commentary on the latest trends, to help you make sense of this important issue.”
It added that it wants to make the tool as accessible as possible to the public, businesses and policy makers and is keen to receive feedback on its further development.
This is expected to include more granular detail on how the cost of living affects people from different regions and socioeconomic backgrounds.
