UK inflation has hit a 41-year high of 11.1%, according to data published by the Office of National Statistics today. And a Bristol charities and business have told of the devastating impact the rate is having.
The report comes a day before of Chancellor Jeremy Hunt is due to reveal his Autumn budget, in which it is anticipated he will announce wide-reaching tax increases and public spending cuts.
Discussing how high costs are affecting the region’s most vulnerable, Jennie Prewett, founder and trustee at Bristol-based charity, Incredible Kids , said: “Inflation is having a devastating impact on charities, as people have less disposable income and are not in a position to donate, even if they want to. Every last penny is being spent on energy bills and rising mortgage payments.
