Rent, car insurance and even the price of a pot noodle: Belfast public tell us their concerns over the cost of living

The cost-of-living crisis remains a pressing concern for many in Northern Ireland.

That is the consensus of Belfast’s public, who shared that the rising cost of food, car insurance and rent are among their primary financial concerns.

Speaking to The Irish News, Belfast-based entrepreneur, Martin Neill, 48, remarked the cost-of-living crisis has ‘affected everyone,’ and pointed to the sacrifices he has made as a business owner.

“I think it has affected everyone,” he said. “I am an entrepreneur with a couple of businesses, and a number of staff.

“We have had to make a number of lay offs and we had to really tighten down on the business, which is highly regrettable.

“I am out looking for premises today for another business, and it feels like the city centre is not really alive.

“I would say the rising rent, for someone that has lived in Belfast my whole life, is extraordinary. I really think that if you’re under 30, you are going to struggle to find a place to live because the rent is so high, and mortgages feel like they are out-of-reach.

“There are so many factors to consider, and it feels like a steeper gradient. It just feels like a real disparity with salaries and cost-of-living, for sure.”

Sharing a similar perspective, Malachy Lundy, 59, told The Irish News: “For me, I do not live too far away from the town [Belfast], but it is now too expensive in the town. I have noticed that maybe over the last five years.

“Car insurance is sky high – I do not know how young ones can afford it, now.

“Food has gone up, petrol, home heating, electricity – everything has gone up, but the wages are not going up for the private sector as much.”

“I am thinking about my kids, and my grandkids, and it is ridiculous. You have to watch what you’re doing.”

Ulster University student, Ariana Derry-Curran, 18, shared that the cost-of-living crisis has affected everything from her social life to grocery prices.

“I would say I have definitely been affected by the cost-of-living crisis,” she said. “Everything is so much more expensive than it was say five years ago.

“Even the price of things as simple as pot noodles has gone up astronomically.

“It is hard being a student at university, trying to fund that as well as trying to make sure you can go out with your friends.”

Rent, car insurance.. and even the price of a pot noodle.

We asked people on the streets of Belfast what areas of concern they have when it comes to cost of living.

The sentiment reflects the Consumer Council’s latest Pulse Survey showing 40% of Northern Ireland consumers feel… pic.twitter.com/PGXKJgyp8z

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These concerns are reflected in the latest Pulse Survey, published yesterday by the Consumer Council, which shows that a significant number of consumers in Northern Ireland are still struggling with the ongoing cost-of-living crisis.

The quarterly research, conducted in December 2024, paints a mixed picture of consumer feelings, revealing small improvements in financial outlook but emphasising continued pressures on household budgets.

According to the survey, 40 percent of Northern Irish consumers feel their household is worse off compared to 12 months ago. While this represents an improvement from 53 percent in December 2023, it remains broadly in line with the 44 percent number recorded during the summer of 2024.

Indeed, financial resilience remains a major concern in Northern Ireland. Three in ten people reported having £150 or less left each month after paying their mortgage, rent and other essential bills. Alarmingly, a further 15 percent said they are left with less than £50 per month of disposable income.

The survey also revealed that financial stress is a ‘burden’ to 46 percent of consumers, while more than one third agreed their financial situation has negatively impacted their mental health in recent months.

Additionally, 58 percent of consumers stated that they’ve had to cut back on essentials after paying housing and debt costs — underscoring the continued pressure on day-to-day living in the region.

And, looking to the future, just over one quarter of consumers believe their household will be worse off in 12 months’ time, a drop from the 36 percent from the previous year.

However, 32 percent of respondents did state they expect to be better off next year — up from 26 percent in December 2023. Moreover, almost one third of said their financial situation had improvement compared to 12 months ago, which is an 11 percent increase from the same period last year.

Reflecting on the findings, Noleen Charnley, Head of Insight and Investigations at the Consumer Council, said: “The Consumer Council has been conducting quarterly Pulse Surveys since 2022 to monitor how the cost-of-living crisis is affecting people in Northern Ireland.

“In the latest Pulse Survey, almost a third of Northern Ireland consumers believed that their household was better off when compared to 12 months ago. However, 40 percent still feel that their household is worse off than it was 12 months ago and 46 percent find dealing with their finances to be a burden.

“While our most recent Household Expenditure Tracker has identified a small rise in discretionary income for our lowest earning households, 35 percent of respondents to us that recently their mental health has been negatively affected by their financial position.

“So, for many Northern Ireland consumers the economic climate continues to cause concern.”

You can view the latest Pulse Survey here: https://www.consumercouncil.org.uk/research/northern-ireland-consumers-cost-living-pulse-survey-december-2024