Cost-of-living crisis: Key dates in the coming weeks

The cost of living has continued to rise in September amid a toxic combination of high inflation and energy bills.

Liz Truss has pledged that addressing the crisis will be a key part of her government's agenda after experts warned of an explosion of poverty and destitution this winter.

Here are some key events affecting the cost of living in the coming weeks.

Wednesday 21 September

New business secretary Jacob Rees-Mogg is expected to announce on Wednesday how non-domestic consumers will be spared some of the pain of rising gas and electricity bills - including businesses, schools, hospitals, and charities.

Businesses are not always able to fix their energy price through fixed deals - with some reporting projected increases in energy costs of more than 500%.

And the £2,500 energy price cap freeze announced by Truss in early September only applies to households.

Thursday 22 September

The Bank of England (BoE) is holding a press conference on Thursday that will lay out its continued response to soaring inflation.

While consumer price index (CPI) inflation dropped in the 12 months to August, it was largely due to falling fuel costs, and food inflation continues to rise - up to 13.1%, higher than July's 12.7%

Read more: UK retail sales slump as inflation and energy bills squeeze households

Markets now expect the BoE to raise interest rates by up to 0.75% from its current 1.75% as it tries put a lid on rising prices, spelling misery for some mortgage holders.

The Bank has previously warned of a recession by the end of the year.

Friday 23 September

Chancellor Kwasi Kwarteng is set to announce "The Growth Plan" on Friday, which the government has said will be focused on tackling the cost of living and stimulating economic growth.

He is expected to outline more details of the "Energy Price Guarantee", which the prime minister announced at the start of September to help households with their energy bills and could cost as much as £150bn.

It is expected the 1.25% National Insurance (NI) increase will be axed at a cost of around £12bn per year - with speculation Kwarteng is considering bringing forward planned 1p income tax cuts in 2024.

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A scheduled increase in corporation tax worth a projected £17bn per year is also on the chopping block.

Mel Stride, chair of the Treasury select committee, on Tuesday urged the government to allow the Office for Budget Responsibility (OBR) to scrutinise the plans.

"There has been a deterioration in our economic outlook since the last OBR forecast in March," said Stride on behalf of the committee.

"There have been significant fiscal interventions since then and we are told there will be further significant interventions including major permanent tax cuts to be announced on Friday.

"Under these circumstances, it is vital that an independent OBR forecast is provided.”

1 October

The freezing of the energy price cap for two years, so that the typical household would pay around £2,500 on its energy bills, begins on 1 October.

Ofgem had previously set a £3,549 energy price cap for October, citing soaring wholesale costs pushing up prices.

Read more: How to save money: 22 easy cost-cutting tips

The government say households in Northern Ireland and households using heating oil - which are not covered under the announcements - will be provided with similar support in the coming weeks.

Autumn

A new round of cost of living payments outlined in May will begin to arrive in people's bank accounts from September.

Six million claimants of personal independence payments (PIP) should receive £150.

Those on means-tested benefits should also be receiving their second, £325 cost of living payment in the coming weeks.

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