Posted 12/4/2023, 4:08:00 PM
Benefit Rises Fall Short as Inflation Hits Poor Households Harder
- Benefit rises failing to keep up with cost of living - poorest facing 8.2% rise in costs vs 6.7% rise in benefits
- Work and Pensions Secretary "unintentionally cut" benefits without proper tools
- CPI inflation ignores costs like credit card interest, disproportionately affecting the poor
- New Household Costs Index estimates 8.2% rise in average family's cost of living
- Mortgage holders saw over 9% increase in costs, widening gap between renters and owners