According to the Voice of the Consumer transport survey, 59% of full time workers say they have seen transport costs rise. Of all respondents who have seen transport costs rise, 47% have had to cut back on essentials such as groceries and utilities.
We asked consumers whether they’d seen a rise in transport costs over the last 12 months, and how much they spend. We looked at whether those costs impacted other areas in their life, from cutting back on essentials to impacting their lifestyle choices from eating out to holidays. We looked at how the cost of transport impacted the way they commuted to work, work from home or even switch jobs.
Average annual spend on transport, and what consumers are cutting back to pay for their transport costs
Transport costs have been rising for a number of years. Since 2009 the transport component of the Consumer Prices Index has risen on average by 5.4% a year, and is one of the areas where prices have risen the fastest over this period. This is nearly three times the 2% inflation target and ahead of the modest wage increases employees are seeing in their pay-packets. According to our survey, 12% of workers have moved to a job closer to home and 9% switched transport methods in order to save money on transport costs. 25% of all adults surveyed have had to borrow money to pay for transport costs.
We surveyed 2,000 of the general public, split between 12 regions including Scotland and Northern Ireland proportionately to their share of the UK adult population. The data can be broken down into national/regional, commuter/general traveller and includes unemployed, retired, students and other not working. We looked at many modes of transport including rail, bus cars ,cycling and walking.
We’ll be releasing more on the findings over the coming weeks including