Renters stretched most by cost of living pressures

Renters are likely to be the most stretched by housing and food bills as the cost of living continues to rise, according to an official survey.

Some 43% of tenants said they were finding it difficult to afford the rent between February and May, the Office for National Statistics (ONS) said.

That compares with 28% of mortgage holders struggling with repayments.

Certain groups of people were hit harder by the rising cost of living, the ONS said.

"We can see that renters were among those currently more likely to be experiencing financial vulnerability," said David Ainslie, from the ONS.

"Our findings also show that lone parents, disabled adults and black, African, Caribbean or black British adults are among groups more likely to be finding their rent, mortgage and food costs difficult."

Younger people - who are more likely to rent - were also shown to have felt a tighter financial squeeze than older people. The survey was conducted before the latest increases in mortgage rates, now at a 15-year high, which is likely to affect both homeowners and landlords.

The ONS survey suggested that nearly six in 10 renters (58%) said they were spending less on food shopping and essentials, compared with 48% of mortgage holders. They were also more likely to have run out of food in the previous two weeks - with 14% of renters compared with 3% of mortgage holders in that situation.

Renters, some of whom will want to buy a home, were less likely to say they could save money in the current climate.