Families in Gedling borough could be forced to fork out £1,700 more per year on household costs in 2022 as a result of inflation, new research has revealed.
The study, commissioned by BBC’s Panorama programme, was carried outby the Centre for Economics and Business Research (CEBR) and predicts that the inflation rate could rise to 4.6% by Christmas.
Experts have put the rise down to higher fuel and energy prices.
They say the full extent of rising costs is not yet being passed on to customers by supermarkets, who are trying to keep costs down over Christmas to keep customers happy during their busiest time of the year.
Researchers are predicting a typical UK family of two adults will spend £33.60 more per week, due to inflation, which adding up to £1,700 per year.
This forecast is based on the prices of commonly bought items such as food and drink, clothing and household goods. It also includes spending on utility bills, such as fuel and power; transport costs; and money spent on recreation and days out.
The rise is expected in spring 2022 and will put further pressure on household spending.
Tonight’s (Dec 1) edition of BBC Panorama reveals how price rises are already being felt by shoppers.
Nikki Rushin is a nurse from Nottinghamshire.
She told BBC Panorama that inflation was making her feel anxious.
“We’re certainly having to be a lot more careful,” she said. “We try and budget very carefully around food, whereas going back a couple of years, we could buy whatever we wanted to.”
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