Rishi Sunak says he expects inflation to soar further this year during Martin Lewis Q&A

dailyrecord.co.uk:

Rishi Sunak expects inflation to rise even further this year as the cost of living crisis in the UK deepens. Earlier today, the Chancellor announced a string of financial packages in a bid to help the most vulnerable people in the UK as the cost of essential items continues to soar.

Mr Sunak was probed on the measures announced in the House of Commons during a Q&A with Money Saving Expert Martin Lewis on Thursday evening.

The Tory minister revealed that the Government is anticipating the inflation rate to be ‘relatively high’ in September.He added that pensions and benefits are likely to rise “significantly higher” than that inflation rate next year.When asked if he may have to provide further support next year on the cost of living, Mr Sunak said: “None of us know what energy prices are going to be next year, but what I can tell you now and what people should be reassured by is that the way our system works, benefits and pensions next year are likely, subject to a review that has to happen legally, to go up by quite a significant amount because the inflation rate that decides that is set in September.“That is likely to be a relatively high inflation rate in September, so that is what will happen next year for everyone’s benefits and pensions, and that increase is most likely to be significantly higher than the inflation we will see next year on all forecasts that are currently available.“So that should give people an enormous sense of reassurance that we are providing the help today to help them get through to that point and that actually next year there is going to be an enormous easing as all their incomes go up considerably compared to what the increase in prices is.”As part of the announcements made by the