Cost of Living Crisis

A Cost of Living Crisis occurs when the prices for essential goods and services—such as housing, food, transportation, and healthcare—rise sharply, while wages do not keep pace. This makes it harder for people to afford basic needs, increasing financial strain and reducing their quality of life. Factors like inflation, economic disruptions, or supply chain issues can trigger this crisis, impacting individuals across various income levels and potentially leading to increased hardship and social inequality.