Inflation is up again – hitting 5 and a half per cent – the highest rate for 3 decades.
And this isn’t the worst of it. A rise in the cap on domestic fuel bills is expected to push inflation all the way to 7.5% in April. So the squeeze on living standards is set to get worse as the year goes on.
And while those on the lowest incomes are being hit hardest, the cost of the living crisis is affecting almost everyone.
We have been spending time with one family in Birmingham about how the cost of living crisis is forcing them to change their lifestyles.