The Bank of England has now increased interest rates to 0.75%, the third rise in four months.

The chancellor says offering help of £350 to most households will take the "sting" out of the rise.

That's a wrap for BBC Radio 5 Live's Making Ends Meet day - thanks for joining us!

If you are looking for further coverage and explanation of what has been announced by Rishi Sunak today, head over to the BBC News website.

You can keep the conversation going by tweeting us @bbc5live using the hashtag #MakingEndsMeet.

And if you have been affected by any issues raised, you can find more information and support at www.bbc.co.uk/actionline.

Sue lives near Newtown in Wales and has health issues which prevent her from working.

She tells Radio 5 Live a charity has been helping feed her 10-year-old dog Dylan.

"He's a big dog with a big food bill and big vet's bill," she says. "His total food bill is just shy of £60 a month."

"He's my best friend and I'd be lost without him. If it was a choice between going hungry myself or not feeding Dylan, I'd feed him."

Money worries have affected Sue, with her regularly skipping two or three meals a week and avoiding turning on lights and heating in her house.

"I worry about it," she says. "It's the knock on effect with my own personal mental health, worrying about the way the economic climate is going."

Energy firms going bust, a lack of wind in the UK and gas demands in Russia - these are just some of the reasons why your bills are going up.

Newsbeat's Rick Kelsey explains what's going on behind the scenes and why it's having an effect on your bank balance.

Dave is a mature student studying electrical engineering in Leicester.

He's worried about the rise in national insurance potentially lowering the threshold of student loan repayments.

"I decided to retrain to better myself like the government wanted," he says.

"It's whether the debt I've taken on [to allow me to study] is going to be worth it.

"Hopefully it's going to lead to more opportunities and more jobs I can apply for and earn a better wage, but what other costs are going to come my way before graduating?"

Let us know your experiences: you can text us on 85058 or tweet us @bbc5live, external using the hashtag #MakingEndsMeet.

A mum who uses food banks so she can afford energy bills says the situation is "really upsetting".

Image source, PA Media

Martin Lewis, the money saving expert who millions trust for financial advice warns the £200 rebate on energy bills in October could leave consumers worse off.

"The issue is that it is a loan and it needs repaying at £40 a year," he says. "In effect the Chancellor has created the equivalent of a giant UK-wide energy direct debit, trying to spread the hit of a high-cost period and repay once things return to normal."

But the problem is there’s no guarantee things will return to normal, Lewis says.

"This ‘winter’ could last for years, and if that happens, an extra £40 on future bills will be a very high price to pay."

Listen to the Ask Martin Lewis podcast on BBC Sounds.

Louise called Nicky Campbell to say she takes her baby to a local shopping centre to stay warm through the day.

"It's ok for us adults," she says. "We can put another layer on or put on a blanket to keep warm, but babies can't."

Nicky asks how cold he would feel if he visited her house, Louise says she "wouldn't expect you to take your coat off quick" but that she is able to keep the upstairs of her house warm enough for her children.

Listen back to the phone-in on BBC Sounds.

Chancellor Rishi Sunak says we need to adapt to higher prices, but government plans aim to make costs more manageable.

Food writer and anti-poverty campaigner Jack Monroe went viral online after creating a thread which pointed out that some supermarket branded food is going up in price faster than premium ranges.

Jack says the rice she usually buys in her local shop has risen in price by 344% which she says could leave some customers facing "stark and hideous" choices.

Listen to #MakingEndsMeet on BBC Sounds.

Stacey is a single mum of two children and works 27 hours a week to fit around childcare.

She has spoken to her energy supplier today and has been told her bills will go up from £67 to £227 a month.

"That means my heating is not going on," she says. "I've got a two-year-old at home who is feeling the cold."

Stacey says she's "angry" at lack of substantial help from the government because she's "put in to the system" her whole adult life and expects "something back" now she's struggling.

Rachel Granger is a professor of urban economies at De Montford University in Leicester.

She says the Chancellor of the Exchequer's announcement a repayable £200 discount on bills for homes in England, Wales and Scotland from October "doesn't go far enough" for people like Stacey.

Listen to #MakingEndsMeet live in Leicester now on BBC Sounds.

Annual inflation, the rate at which prices increase, was up at 5.4% in December, the highest value for almost 30 years, according to latest figures.

But what does it mean for you? The BBC's consumer affairs correspondent, Colletta Smith, breaks it down.

Andy Shaw is a debt advice policy officer at StepChange.

He gave this advice for anybody who is struggling with debt because of increased cost of living:

• See if you can make savings on your phone or broadband, it might be a really good time to fix those costs now before price rises have a knock-on effect on those suppliers
• If you are in work, particularly on a low income, you may be entitled to some benefits
• Don't struggle alone, debt advice charities can help work out where savings could be made

If you're struggling, help and support can be found on the BBC Action Line website.

5 Live caller Amanda said that she "burst into tears" when Chancellor of the Exchequer Rishi Sunak announced a rise in energy prices in the Commons this morning.

Amanda talked about the sacrifices she has to make to stay within her budget, and why the rise is so worrying for her.

"You stop on the little treats you have, like going to the cinema, you cut back. You take packed lunches and think about where you do your food shop to squeeze extra money.

"I sit with a t-shirt, jumper, fleece and a blanket on my legs while I work so I don't have to turn the heating on. When you see the meter reaching the budget, you just think I won't be turning the heating on today."

Let us know your experiences: you can text us on 85058 or tweet us @bbc5live, external using the hashtag #MakingEndsMeet.

Millions will get a repayable £200 rebate, with a further £150 council tax cut in England.

Vicky Rowe is the founder of Newtown Food Surplus, a food distribution project in Powys, Wales aimed at preventing food waste.

She says many of the people helped by the project are in work and still struggling to put food on the table.

"The area we're in, it's predominantly people on lower wages," she says.

"There's carers, there's nurses - it's all those people who do an amazing job and are feeling the pinch.

"They're trying to make a decision over fuel in the car and what they're going to be putting on the table - if they can put anything on the table."

Listen to #MakingEndsMeet across the day on BBC Sounds.

Households find out today how much their bills are increasing when a new energy price cap is announced

27-year-old entrepreneur Poppy Davies owns three computer shops in Wales.

She has been telling Radio 5 Live increasing costs "could affect the expansion of our business".

"A lot of the time, tech isn't at the top of people's lists when they've got higher bills to pay," she says.

"I think the business is resilient enough but we're going to have to really budget and be a little more on it than we have been in the past.

"We'll get by, but for our customers, I feel for them definitely."