Benefits and pensions are going up from today, Monday, April 11, but people across the country will be left worse off. That's because while the amount you get is going up by 3.1% inflation - the rate everything is getting more expensive by, is already much higher and could hit 10% by October.
The basic Universal Credit rate rises by £10.07 a month and state pensions by £5.55 a week, reports ChronicleLive. The rises are calculated based on inflation back in September 2021, which was 3.1%. But inflation has now hit more than 6%
According to Mirror Online, the Office for Budget Responsibility says this is a £12billion fall in the real value of benefits in 2022-23. Dan Paskins, Director of UK Impact at the charity, said: "A 3.1% rise to benefits when inflation will peak at 8% just doesn’t add up for struggling families.
