Prices are rising by 9% a year in the UK – the highest rate for many years …

Inflation is the increase in the price of something over time. For example, if a loaf of bread costs £1 one year and £1.09 the next year, then that’s an annual inflation rate of 9%.

  • Energy bills are the biggest contributor to inflation at present, as oil and gas prices remain at elevated levels in part due to the Ukraine war. After a rise in the UK’s energy price cap last month, average gas and electricity prices jumped by 53.5% and 95.5% respectively compared with a year ago
  • Fuel prices are also surging, with average petrol prices hitting 8p per litre in April 2022 versus 125.5p a year earlier.
  • 9% inflation is at the minute just an average as different areas can rise at different rates, did you know one food industry boss has warned us all that food prices may rise as far as 15%

What’s happening to wages?

Average pay increases are not keeping up with inflation.

Figure show that wages, excluding bonuses, rose by 4.2% between January and March. But when you take inflation into account, regular pay actually fell by 1.2% compared to 12 months ago.

Some parts of the economy are facing staff shortages as a result of Brexit and the pandemic. On the 1 April, the lowest paid saw the National Living Wage rise by 6.6% to £9.50 an hour.

However, since that date, anyone earning more than £9,880 per year (£12,570 from July) has had to pay 1.25p more in the £1 in national insurance as a result of the new health and social care levy.

Cost of living and help!

With the cost living rising more and more people are hitting on hard times and are needing a bit of extra help.  Do you know where your local food bank is?

Milton Keynes Food Bank are based in Kiln Farm the Food Bank aims to make sure that residents in Milton Keynes don’t go without food.

People are referred to them for a variety of reasons, perhaps a family break-up where one person has had to leave without warning, loss of a job or benefit problems. It could be that someone has come out of hospital or prison and needs some immediate practical support. Sometimes it is debt related, where a change in circumstances leaves a family struggling to keep a roof over their heads. In all cases, The Food Bank is able to provide short term support.

If you are in food crisis call: 0300 303 4933 or text help to 07874 964 505

To find your nearest Collection Centre, please call the Food Bank Helpline on 0300 303 4933

The Trussell Trust support a nationwide network of food banks and together they provide emergency food and support to people locked in poverty.

Visit their website www.trusselltrust.org to find the nearest food bank

OLIO connects neighbours with each other and with local businesses so surplus food can be shared, not thrown away. This could be food nearing its sell-by date in local stores, spare home-grown vegetables, bread from your baker, or the groceries in your fridge when you go away.  For your convenience, OLIO can also be used for non-food household items too.

OLIO is super easy! To make an item available, simply open the app, add a photo, description, and when and where the item is available for pick-up.

To access items, simply browse the listings available near you, request whatever takes your fancy and arrange a pick-up via private messaging.

Here at OLIO we believe that small actions can lead to big change. Collectively – one rescued cupcake, carrot or bottle of lotion at a time – we can build a more sustainable future where our most precious resources are shared, not thrown away. Join today!

MK Community Fridge Their network of community fridges work together with “Food Connect” to maximise the redistribution of good surplus food to residents of Milton Keynes.

Visit their website www.mkcommunityfridge.org