The decrease in inflation to 1.7% has raised hopes for a Bank of England interest rate cut, but experts caution it could indicate troubles ahead for benefit uprating.
Research indicates that families relying on Universal Credit may see a £253 yearly increase, significantly lower than what they would gain if the August or October CPI was used.
Inflation rates are critical in determining how benefits are adjusted, therefore the current CPI reduction may not bring good news for low-income families despite falling inflation.
With inflation having dropped below 2% unexpectedly, there are concerns regarding the timing and implications of this change for individuals who rely on government benefits.
Collection
[
|
...
]