The price of bread, cereals, meat and other key foods surged in the year to September.
As a result, nine in 10 people are trying to save money by delaying putting the heating on.
"You think to yourself, if we can [get through the pandemic], we can weather most storms," she told the BBC. "But maybe that's not the case." Mr Hunt said the government said he understood people were struggling and would "prioritise help for the most vulnerable while delivering wider economic stability".
But higher rates also drive up borrowing costs for mortgage holders and businesses, with experts warning this could put a brake on economic growth.
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