I’m on benefits and my inflation rate is a staggering 21% – can Squeeze Team help me?

STRUGGLING families are being hit by inflation of more than DOUBLE the national rate, an exclusive Squeeze Team probe reveals.

Official UK inflation is nine per cent, calculated using a basket of goods, but everyone has their own individual rate based on how they spend their earnings.

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The Institute for Fiscal Studies (IFS) has warned that those on the lowest incomes will be hit hardest by inflation as they spend a big proportion of their income on energy, which is surging in price.

Single mum of three Jodie Denver, 40, who relies on disability ben- efits to stay afloat, has seen her individual cost of living rise by a staggering 21 per cent.

Her plight comes as prices are rocketing at their fastest rate for 40 years, with the national inflation figure jumping to nine per cent in April, up from seven per cent in March.

Another surge in gas and electricity bills expected in October will hit cash-strapped people even harder — but the investigation by our money-saving experts proves many are struggling with soaring inflation NOW.

Squeeze Team financial expert Jim Lee calculated the personal inflation rate for four households based on their earnings and outgoings.

Set against income, we looked at the amount of their spending on everything from holidays to car costs, financial service charges and furniture.

Jim, a tax partner at James Lee Associates, said: “Our analysis shows that it is the poorest being hit by inflation.

“I was also struck by just how much money people are spending on fuel.

“And with energy prices set to rise for many in October, it’s time to consider cutting spending where you can.”

Jodie, from Chigwell, Essex, who has lupus, a severe autoimmune disease, is able to “just about” cover fuel and energy costs but fears for her financial future.

She said: “The cost of living is ruining me. After my fuel and energy costs, I have barely any money. What’s left over goes on food and the kids.

“My lupus means I can’t work. I’m having to rely on handouts from the local church and I’m growing vegetables to try to help lower our food costs.”

Jodie relies on her Employment and Support Allowance of £117.60 per week to keep her children Natalie, 17, Sarah, 15, and Bobbie, ten, fed and clothed.

She also gets Disability Living Allowance of £61.85 per week, housing ­benefit of £650 per month, child benefit of £80 per month and a mobility car. Jodie used all her savings to pay energy bills and now lives on credit.

She said: “As a mum, I lie awake at night wondering what pennies I can find around the house to buy bread and milk.

“I need the car to pick up the kids and it’s the only way I can enjoy a degree of mobility with my condition. I can’t cut my costs any more and I’m worried I’ll end up in serious debt.”

The Squeeze Team’s Jim said: “Jodie has little scope to fight inflation.

She is dependent upon her benefits increasing. Financial services charges of £720 per year could be reduced by switch­ing credit cards and interest payments. She could try to cut her spending by using discount supermarkets.”

Here we reveal the spiralling costs that are hitting three more households and offer advice to help them save.

Chloe McMullin earns £25k and her personal inflation rate is… 15%

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RISING fuel costs have left Chloe McMullin fighting to keep her ten-year-old mobile hairdressing business afloat.

Chloe, 30, who lives near Plymouth, said: “Diesel prices have skyrocketed and my bottom line has taken a big hit.

“I was just getting back on my feet after lockdown and operating on a small profit margin and that’s been eaten up by ­diesel costs.

“My vehicle costs are also high as I use my car on country lanes and there is a lot of wear and tear.

“I have cut all my personal costs and wasn’t shocked when my personal inflation rate came out as far higher than the national average.”

Squeeze Team’s Jim said: “Chloe spends £1,000 a year on sports, gardening and pets. Gym memberships can get ditched by exercising outside or at home and there are many cheap gardening hacks on the internet.

“Spending £500 on electronic leisure could be reduced by switching to a SIM-only for her mobile and changing internet providers. She could also find second-hand white goods on internet sites or charity shops.”

Josh Waters earns £23k and his personal inflation rate is… 11%

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SINGLE dad Josh Waters, 30, says he expects his personal inflation rate to continue soaring.

Josh is a support worker from Falmouth, Cornwall.

He said: “I was shocked to see my inflation rate. The impact of fuel and heating costs is frightening.

“I have to drive to see clients and fuel is crippling my ability to do my job.

“All I focus on now is cheap supermarket shops, money for my daughter and keeping the mortgage paid.”

The Squeeze Team’s Jim said: “Josh needs to look at the £1,000 a year he spends on personal effects.

“He needs to go through it item by item and see what he can cut.

“And essential items could be cheaper. Does he need to buy branded products?

“He’s also shelling out £1,500 a year on household maintenance. He should see if he can do some of the work himself or get it done cheaper.

“There are tutorials online showing you how to fix things. While you should never try gas or electrics without training, there is no harm in trying to put up some shelves.”

The Keoughs earn £32k and their personal inflation rate is… 11%

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PROPERTY maintenance boss and gardener Stephen Keough and his wife Gemma, a model agency owner, spend most of their income on rent.

The couple, both 33, from Chadderton, Manchester, who have three children, are selling items on eBay to cover the rising cost of food and heating bills.

Stephen said: “I’m surprised our inflation rate isn’t higher. I recently had to sell my beloved white van because of its high running costs and replace it to keep my property maintenance business alive.

“Gemma managed to get us on a fixed- price gas and electric deal last year but when it runs out in October we’re terrified it will double or even treble.”

Squeeze Team’s Jim said: “Gemma and Steven spend £4,200 on insurance.

“This could be reduced by using a price comparison website as insurance remains quite competitive.

“The same is true for their £90-a-month communication costs. The mobile phone and internet marketplace is fiercely competitive and savvy shoppers can get good deals.

“They may surprise themselves at how much they can reduce bills.”

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This post first appeared on thesun.co.uk