Inflation set to rise further

"As a small, non-profit charity, we rely solely on fundraising and donations to thrive, provide support services, equipment and grants to families affected by Ectodermal Dysplasia in the UK. Soaring inflation is having a severe affect on everyone and people are trying their hardest to cut costs. Our supporters have always been there for us in our time of need, but we fear there is only so much families and individuals can take, and our biggest worry is to see a huge decline in donations and fundraising. I believe the current financial crisis will be having a worse effect on charities than the pandemic. More worryingly, a recession may be on the cards, as households are already cutting back on costs and outgoings. The cost of living is a big concern for everyone in the UK right now, which will cause a significant reduction in income from charitable giving."

"There has been a significant drop in our sales and bookings in the last few weeks. Having fought our way through the pandemic, this feels incredibly deflating. We are exhausted and our resources are low. The current financial climate is yet another thing small businesses are having to face, but this time there is no financial help from the Government. The current situation is potentially far more damaging longer term for our business. The government needs to do more to ease the pressures on household incomes and ensure the economy starts moving again otherwise many small businesses, like ours, won’t make it through another crisis."

"As a small business owner and single parent, inflation is putting an unbelievable pressure on me. I am the sole earner and the fact consumers have less disposable income to spend is devastating. With fuel and energy costs at record highs, my business is taking aa beating, especially as I work from home and provide mobile services. I've had to limit the amount of deliveries I provide due to mega-high fuel costs. This government is doing nowhere near enough to support people and small businesses during the current financial crisis. All they are doing is putting more pressure on businesses, many of which were only born during the pandemic. One hapless minister has suggested we take on more hours so that we can tackle the rising costs. Is she not aware that people are already exhausted and need help?"

"As a person living with a disability, inflation is causing me sleepless nights. And I know others in a similar situation to me are experiencing the same thing. Fuel bills rising are the worst, as I need to keep my house warm and the double whammy is that I am also dependent on my car. Almost everything costs more. I recycle paper and plastics and though these are inexpensive or free my other materials and postage and packing costs mean that I have had raise my prices just to cover these. The Government is displaying a complete lack of empathy and understanding of how the current financial crisis is affecting ordinary people. I don't have a mortgage but as rates rise more people risk losing their homes. My online sales are down as, like most online sellers, these went up during the pandemic. Overall it's hard to say as craft markets have opened up again bringing in sales. However buying jewellery is a treat rather than a necessity, the money I make also helps me to be able to treat my grandchildren and pay for Christmas."

"Rising inflation is affecting our lives daily. I find myself panicking about the price of food and worrying about future outgoings that are still months away, but which are likely to be costly. Our money isn't lasting nearly as long as it needs to. I've noticed a significant loss in customers over the past few months. Being self-employed and running a small business is scary, and I literally have to work from the moment I wake up, until I go to bed, in the hope that I can push sales that will provide for my family. I do not feel that the government is doing nearly enough for lower income homes, or for small businesses. The rich are getting richer and the poor, poorer. I don't see how working class people and small businesses will survive if things carry on the way that they're going. I'm genuinely worried for my children's futures. The current financial crisis is having a much worse effect on my business than the pandemic did. People were furloughed during the pandemic, so had no outgoing costs such as travel. Their income was their own to spend on frivolous items if they chose. Now people's incomes are being spent on necessities like food or gas/electric. Non-essentials are a no-no."

"We're a small family business, and our work is intertwined with our everyday lives. Over the past 10 years we've weathered many storms, but the current situation is the most worrying. By the end of this year our energy costs at home and in the business will be bigger than our mortgage and rent for our workshop. At the moment we're not sure where this additional money will come from. Our food bills have gone through the roof so we've started to use charities who distribute out of date food. We walk or cycle as a family, cutting down our use of our car and van. We've drastically reduced our energy consumption, but all these measures won't be enough to get us through. Our only option is to work 7 days a week, every week with no breaks. Holidays, gifts, treats for the kids have all been forgotten. It feels like we've gone backwards 50 years. Material costs are going through the roof and everyone is feeling the pinch. The current situation is worrying every small business owner I know, so much more than the pandemic did. It feels like after two years of desperately trying to survive, the little glimmer of hope we saw has been immediately snuffed out and many people are wondering if it's worth continuing. We've discussed shutting the business and getting whatever work we can to survive. We're also looking at claiming universal credit, something we'd never considered before. The government don't seem to be doing anything for small businesses, or the general population. It feels like we're being hung out to dry, while the profits of the energy companies and businesses like Tesco continue to skyrocket. Above all, there's a feeling of intense anger that we've been put in this situation. Brexit and Covid have taken small businesses to the very edge, and the current crisis will see many go over it."

"The current financial crisis is having a far wider impact on business than COVID-19 did, and it feels like a kick in the teeth after two years of the pandemic. During the pandemic, businesses in our local community adopted a collaborative approach to help each other get through the crisis. Although the outlook was grim, the small business community pulled together to help each other through. Cut to the current situation and costs have been rising at an uncontrollable rate across the board in 2022, and so many small businesses are now in a race for survival. Each new supply chain price rise is painful. The inflationary price rises we put through earlier in the year to help us maintain our income in real terms have been swallowed up and now seem insignificant. This can’t continue. If we all keep putting up our prices to cope with increased costs, it will keep us on an inflationary roundabout. The government needs to step in the break this cycle."

Every time I do my food shop these days, prices seem to have increased. Chicken in my local supermarket, £3.85 last week, £4.10 this. It's scary how fast prices are rising. The government's response to the cost of living crisis is tone deaf and woefully inadequate. It's almost like these privately educated, often wealthy politicians cannot comprehend the gravity of the situation affecting millions. Who knew!

The current effect of the inflation disaster reminds me of March 2020 when the pandemic was just starting. Everyone is concerned yet for many, few of the effects have yet to be truly felt. The scale of the inflation problem and the impact it will have on our everyday lives is deeply concerning, however the initial effects of fuel increases, energy price increases and food and drink price rises are only just starting to feed through to peoples daily budgets. Many have started to feel the pinch, however months or years of the inflationdemic will certainly not lead to anyone clapping on their doorsteps.

It will be the same old story - prices in affluent "desirable" areas will hold value or continue to rise and the rest of the market will see a correction brought about by rising interest rates, inflation and potentially an increase of supply due to people not being able to pay their mortgages. All members of the Cabinet should be forced to live on 2 slices of Mighty White and a Chicken and Mushroom flavour pot noodle a day for 2 weeks to give them an insight in to how us plebs live.