ALL RISE

All the bill help you can get on Universal Credit, State Pension and benefits as inflation rises faster than payments

BILLS and everyday costs are rocketing for millions of households, putting pressure on many people's finances.

Benefits this week increased by 3.1% including Universal Credit and the State Pension, adding more in people's pockets.

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Extra cash help is available to many on benefits and low incomesCredit: Getty

But inflation has hit 7%, new official figures revealed today show.

And that means many on benefits will actually feel worse off, because their cash doesn't stretch as far.

Inflation is a measure of how much prices are now compared to last year, from food in your shopping trolley to the fuel filling up your car.

You'll be spending more of your cash, even on the same items, because prices have gone up.

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And the rise in benefit rates is not enough to keep up with these higher prices, leaving many feeling the pinch.

Tom Selby, head of retirement policy at AJ Bell, said: “When is a pay rise not really a pay rise? When the cost of the things you buy are increasing by more than the extra cash you’re receiving.

“Sadly, that is exactly the position millions of retirees find themselves in today as the state pension rises by 3.1%"

“The reason is that traditionally the Government uses the inflation rate from the prior September used to uprate benefits. Unfortunately, this was before prices in the UK spiked."

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And the same goes for others on a range of benefits getting a "pay rise" this week too

For anyone struggling with the rising cost of living there's extra help available - here's what you could get and how to apply.

Exact availability will depend on your circumstances, but these schemes are generally aimed at those on benefits or on low incomes.

Unclaimed benefits

Even if you're getting benefits now, you could be entitled to more.

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Charity Turn2us estimates that at least seven million people across the UK are missing out on over £15 billion of unclaimed benefits.

A whopping £1.7billion a year in Pension Credit alone is going spare, and is worth as much as £3,300 a year to those on low incomes getting State Pension.

You can find free-to-use online benefits calculators to work out what you're entitled to.

There are several out there, including from Turn2US, EntitledTo and Poilicy in Practice.

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