Experts warned that inflation will rise even more than predicted at 6 percent by the Bank of England yesterday.
Families were advised to budget more for their shopping, bills and outings.
The inflation rate is currently 5.1 per cent, but the Bank expects this to peak at 6 per cent in April – the highest since 1992.

Experts warned that inflation will rise even more than predicted at 6 percent by the Bank of England yesterday. (file photo).
It would represent three times the target of 2% and can spell doom for families struggling to survive.
In April, families will also be subject to painful tax increases. These are designed to increase income for the NHS and other social services.
National Insurance has been rising at 1.25 Percent, and a freeze on income tax brackets means more people are being dragged into higher rates.
Douglas McWilliams of the Centre for Economics and Business Research advised that households should be aware of inflation exceeding 6 percent.

The inflation rate is currently 5.1 per cent, but the Bank of England (file photo above) expects this to peak at 6 per cent in April – the highest since 1992
He said that wages would rise due to a tight labor market and higher living costs, but they will not do more than keeping up with inflation.
“Be on guard for an increase in cost of living, particularly as disposable income grows faster than price growth.”
Other experts previously predicted household budgets face a hit of at least £1,200 in 2022. It is thought US inflation – currently 6.8 per cent – could top 7 per cent.