The research, conducted by investing comparison website Investing Reviews analysed Google search data to determine which UK cities and towns are most worried about the ongoing crisis.
The study combined more than 280 common search terms related to the issue to reveal the average monthly search volume over the past 12 months for each city and town.
The areas were then ranked from ‘most worried’ to ‘least worried’ based on searches per 10,000 of their population.
The study also found that in all but five cities and towns, the most searched-for term was ‘top savings accounts’. Meanwhile, in the other five (Crawley, Derby Liverpool, London and Sheffield), the public mostly searched for ‘interest rate’.
With an average monthly search volume of 431 per 10,000 people, Walsall is the UK area most worried about the cost-of-living crisis. The area’s most searched-for terms included ‘top savings accounts’, ‘interest rate’, ‘savings account interest rate’, and ‘savings accounts’.
Bath ranked in second for the UK areas most worried about the cost-of-living crisis with an average monthly search volume of 333 per 10,000 of its population. Whilst Bath’s most searched for term was also ‘top savings accounts’, the public also made plenty of searches for ‘mortgage interest rates’, highlighting the concern around the state of the housing market.
Norwich ranked in third with an average monthly search volume of 321 per 10,000 of its population. More than 480 of their 4,595 average monthly searches were made for ‘top savings accounts’.
Wrexham ranked in fourth for the UK areas most worried about the cost-of-living crisis. It is also the most worried area in Wales. The city’s average monthly search volume per 10,000 of its population was 313 over the past twelve months.
Hereford ranked in fifth with an average monthly search volume of 310 per 10,000 of its population. ‘Mortgage interest rate’ was also among their most searched-for terms.
Meanwhile, Edinburgh ranked in sixth for the UK areas most worried about the cost-of-living crisis with an average monthly search volume of 306 per 10,000 of its population. The city had the highest overall monthly search volume (15,717) out of any of the top 10. It is also the area most worried about the crisis in Scotland.
With an average monthly search volume of 303 per 10,000 of its population, Chester is the seventh UK area most worried about the cost-of-living crisis. ‘Highest interest savings accounts’ was among the city’s five most searched-for terms.
Lincoln ranked in eighth with an average monthly search volume of 282 per 10,000 of its population. More than 1,300 of its 2,887 average monthly searches were made for ‘top savings accounts’.
Inverness (281 average monthly searches per 10,000 of its population) and Wigan (264 average monthly searches per 10,000 of its population) rounded off the 10 UK areas most worried about the cost-of-living crisis.
On the other end of the scale, with just 68 average monthly searches per 10,000 of its population, Wakefield is the area least worried about the cost-of-living crisis. Of the 2,418 average monthly searches made for the various related terms, 426 were made for ‘top savings accounts’.
Dudley, Bradford, Sunderland, Kingston upon Hull, Doncaster, Canterbury, Blackpool, Derby and Stoke-on-Trent made up the rest of the 10 UK areas least worried about the cost-of-living crisis.
Simon Jones, CEO of Investing Reviews said, “The study is incredibly insightful as it enables us to identify what the biggest financial struggles are across the UK and where exactly in the UK those struggles are most prevalent.
The results indicate that the public are predominantly worried about two things: how to save money and how to wrestle with increasing interest rates. Both are ultimately understandable concerns in what is such a difficult time for so many people.”
