Many analysts are predicting interest rates could go up again this year with the base rate currently at 4.5 percent.
Supermarket costs in particular continue to mount, with food inflation at 19.1 percent for the year to April.
Prices for everyday basics such as milk, cheese and eggs continue to go up, while many other household bills increased from April.
Energy and water bills went up from April as well as council tax and mobile and broadband tariffs.
With the rising costs, families may want to check if they can get extra support to help cover their bills.
People on certain means-tested benefits, including Universal Credit, are getting a £900 cost of living payment in three instalments this financial year.
The first £301 payment went out recently with the second payment of £300 to go out in autumn 2023, and the third instalment of £299 to go out in spring 2024.
People on disability benefits are to get an £150 cost of living payment which will go out between June 20 and July 4.
People on these benefits may be eligible for the payment:
- Attendance Allowance
- Constant Attendance Allowance
- Disability Living Allowance for adults
- Disability Living Allowance for children
- Personal Independence Payment
- Adult Disability Payment (in Scotland)
- Child Disability Payment (in Scotland)
- Armed Forces Independence Payment
- War Pension Mobility Supplement.
Pensioners who receive the Winter Fuel Payment this winter will also get an additional cost of living payment of between £150 and £300.
Those who are struggling with energy debt may also be able to get grants to pay off their debts.
Many suppliers have support funds and the British Gas Energy Trust has a fund available to all Britons, including those who are not British Gas customers.
Britons may also want to check if they can claim any benefits to bolster their income, as many benefits increased 10.1 percent in April, including Universal Credit, PIP and Pension Credit.
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