Price rises still taking “a huge chunk of the weekly budget for families with nothing to spare” - JRF

Responding to news that CPI inflation is once more above 10% for January, Rachelle Earwaker, Senior Economist at the Joseph Rowntree Foundation said:

“Inflation at these levels has frightening consequences for those on the lowest incomes – especially with food prices at incredibly high levels and still rising. People are also being confronted by rising rents, council tax and energy bills. These represent a huge chunk of the weekly budget for families with nothing to spare – for too many it’s no longer a question of heating or eating, both are increasingly out of reach.

“Inflation has now been above 10% for 5 months, much of which is driven by price rises of essential items, with the Bank of England expecting inflation to be at least twice their target rate throughout 2023.

“Food prices have risen by an eye-watering 16.7% in the year to January, and more than 7 million households have been going without essentials such as meals, heating and showers this winter and no real relief is on the way for them.

“The ongoing struggle to put food on the table is not inevitable and our governments are not powerless to help. We all want to live in a society which ensures everyone has enough to live on, but the reality of our social security system is out of step with what is needed – to the point where the worst off are damaging their health just to keep the lights on.

“We need to see a step change to a system which truly protects us all from harm when living through difficult times.”