![]() Together, this equates to a rise in costs of 13% compared with last year, well ahead of the main inflation rate of 9% in April. Other categories which have risen significantly include food (increasing by 9.3%), childcare (up 6.7%), motoring and other travel costs. The pressures on budgets are largely being driven by fuel, which has more than doubled in cost. ![]() Costs for families with two children have risen faster than the 9% rate of inflation in the official statistics, seeing the largest year on year increase since the Minimum Income Standard started to be used in 2008. The family budgets have been calculated using the Minimum Income Standard, produced by Loughborough University for JRF and based on items the public think are needed to achieve an acceptable standard of living. The impacts of inflation are being felt sooner and harder by those on the lowest incomes, who spend a higher proportion of their incomes on essential items.Īt the same time without further action, the basic rate of social security in 2022/23 will be the lowest since 1982, at a time when inflation is at a 40-year-high, according to new analysis by the Joseph Rowntree Foundation. ON OFFįamilies with children are being faced with price rises of £400 per month on basic items such as food, rent and heating. Google use cookies for ads personalisation. The data we collect remains strictly anonymous. ON OFFĪnalytics cookies enable us to use Google Analytics and Monsido to help us improve our website by collecting data on how you use it. This data is used for better segmenting and targeting of Dotdigital contacts. Tracking cookies track and identify visitors as a Dotdigital contact whilst they browse our site. Social sharing cookies allow you to share content from our website on your social media platforms and email. These cookies can be disabled in your website browser settings but may impact your website experience. Necessary cookies are strictly necessary for our website to function properly across areas such as accessibility security and use all of our features. To find out more please read our cookies policy. These are completely optional and we won't collect them unless you give us your consent. We'd also like to set tracking, social sharing and analytics cookies to improve the experience of our site. We use necessary cookies to make our site work.
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