Britons face a series of income raids in 2022 that started in April with the rising energy price cap. Over the next year, Ofgem will allow firms to extract an additional £693 from people’s salaries, and with inflation rising to nine percent today, there are urgent calls for Government action. Bank of England governor Mr Bailey warned earlier this week that food shortages prompted by the ongoing invasion in Ukraine could compound the situation.

Speaking to MPs on the Treasury select committee, Mr Bailey said that the war meant Ukraine faces export trouble.

The country is one of the world’s largest exporters of wheat and sunflower oil, and their diminished participation in the market could drive up prices.

Poorer countries reliant on Ukrainian farmers would feel the shortage worst, he said, with grain exports now down 500,000 from five million tonnes.

The war in Ukraine is among the primary aggravating factors for UK inflation, which increased today and will likely do so again at the end of 2022.

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The bank announced that inflation had hit nine percent in April earlier today, up from seven in March.

The adjustment means that, for each pound an item costs, consumers are paying an additional nine pence.

Those costs mount significantly for the average weekly grocery shop.

Experts estimate that Britons spend roughly £45.31 a week, split between household groceries and eating out by £31.39 and £13.92.

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Bank of England bosses believe Britons haven’t seen the end of rising inflation in 2022.

Their present projections are that prices will continue rising, up to 10.2 percent in the second quarter.

That additional one percent adds another 1p to each pound for commodities, making them, on average, 10p more expensive.

Factoring in the increase would mean the monthly British grocery shop costs £137.75, £1.50 more than today.