Here are five things which have been particularly affected and some of the reasons why.
The cost of living is continuing to climb, with prices in the UK rising at their fastest rate for 30 years,Factors including supply chain issues, the war in Ukraine, recruitment challenges and increased wages have come together to create a perfect storm of higher costs, as the country recovers from the Covid pandemic.
The US has announced a complete ban on Russian oil imports, while the UK is to phase it out by the end of the year. The EU is also trying to reduce its reliance on Russian oil.The UK imports just 6% of its crude oil from Russia, but 18% of its diesel. Again, the UK gets relatively little of its gas from Russia but it's still affected by volatile global prices.
"We need to find an extra £1,400 a week to cover the costs of everything that's come on in the last few weeks," he told the BBC.
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