Want to know how much soaring costs have actually impacted your household? This inflation calculator will work out how increases in the cost of living have affected you in the past year.
The calculator created by the Office for National Statistics (ONS) takes into account your monthly salary and spending habits.
It then estimates how much your monthly spend has increased over the past year, shows you how it compares to previous years, and breaks down which items are contributing most to increases in your cost of living.
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It comes as inflation soars to highs not seen in 41 years, hitting 11.1 per cent in the 12 months up to October 2022. Low-income families are hit hardest, because the cost of essentials like food and energy bills are rising most and the poorest families spend more of their income on them.
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Low-income groups spend around 15.2 per cent of their total expenditure on food, drink and energy, while it’s around 10.4 per cent for high-income groups.
