REACH steps up efforts to help people amid unexpected inflation rise, anticipating increased need for support.
The Bank of England thought it would be 2.8 percent. Now, they expect 3.7 percent in 2025’s third quarter. Interest rates may not fall as fast. This could increase household costs and hurt the economy’s growth.
REACH’s leader, Henry Wilson, spoke about the inflation news. He said it greatly shocked REACH and affects those they serve. He thinks the cost of living crisis remains and might even worsen.
Wilson explained families they help will face longer struggles. REACH is worried about rising costs of food, water, and energy. Poorer people already struggle with these essential expenses. The charity anticipates needing to help more people than ever.
Increased employment costs could hurt the job market, and interest rate worries add to the problem. Fewer jobs mean more people will face hardship. Wilson asks people to imagine financial stress, noting REACH is often a lifeline.
REACH is increasing support efforts by offering debt advice and welfare help. They also provide emergency food assistance. The charity wants to aid more people, aiming to help families, individuals, and pensioners.