13 May 2022
A Perfect Storm
We're all familiar with what's happening with the cost of living right now. Consumer prices are already rising by 7% a year in the UK - the highest rate for 30 years - and the Bank of England has warned that inflation might reach as high as 10% within months as a range of factors combine to put pressure on household budgets.
Fuel costs are the biggest contributor: average petrol prices rose 12.6p per litre between February and March, the largest monthly rise since records began in 1990.
Household fuel bills have also soared: about 18 million households on standard tariffs saw their annual bill jump from £1,277 to £1,971 on 1 April - an average increase of £693.
Regulated rail fares have gone up by up to 3.8% in England and Wales, the highest increase for nine years.
Rising interest rates have also made housing costs more expensive for many.
Air passenger duty, vehicle excise duty, postage costs and water bills in England have all increased, too.
And - on the most fundamental level - one food industry boss has warned that food prices could rise by up to 15% this year.
As always, it is those households with the lowest income that are - and will be - the most hard hit by these increases, and it is these that the BOSS Business Supplies Charity is here to help. We have already been contacted by existing beneficiaries who are reporting that their fuel costs have now doubled and we are already making provision for many more requests for additional assistance.
How can you partner with us to help current and former industry colleagues who are caught in this perfect storm? Simple:
Let us know (in confidence) of anyone you think needs help - or encourage them to do so themselves. Application Forms and advice are available at: https://www.bossfederation.com/boss-business-supplies-charity
Help us raise cash (c50% of what we give away each year comes from fundraising) by attending one of our events (eg our annual Charity Day on 15th June, where there is still time to sponsor a hole for £150), donating a raffle or auction prize, or making a cash donation.
Contact our Secretary Liz Whyte [email protected] or 01924 203338 for some help and suggestions on what you can do to make a difference to those who need help urgently!