The price of just about everything is rising. And worst of all, the biggest price rises are on the staple goods we HAVE to buy or pay money for each and every month.

And the less disposable income you have, the bigger the impact of inflation - which is the measure of the rate at which prices are rising. This is because it’s mostly the cost of essential products like food and fuel that have jumped-up massively, rather than luxuries such as cars and electrical items.

External Links: Check out the Office of National Statistics' Personal Inflation Calculator to calculate exactly how you’ve been hit.

But don’t despair. While these prices are here to stay, you can still lower your own rate of inflation - or even reduce the amount you spend.

We invited one lady into the studio to help slash her mortgage, energy and food costs. She rang a mortgage broker, London & Country, during the show and found she could get a mortgage from Cheltenham & Gloucester that would cut her annual mortgage bill by £500. She could also reduce her expenditure on food by £600 a year, and by switching her energy tariff she could save another £215 a year. That's a total annual saving of £1,300.

How to beat inflation

For most people, inflation's impact can be countered by some sassy money moves.

• Mortgages
  
  The biggest expenditure for any homeowner is their mortgage and the cost of mortgages has been rising steadily since the credit crunch took hold last year. For every 1% rise in your rate, you pay £80 more each month per £100,000 of mortgage debt.
  
  Though some mortgage rates are finally falling, it's more than likely you’ll face a steep rise in your monthly costs if you're coming to the end of a cheap, introductory period. That means it's vital to search for a new deal six months before your current offer expires.
  
  External Links: Read Martin's detailed Cheap Mortgage Finding guide for more information.
  
  
• Food and Supermarket costs
  
  There are a host of ways to cut back on shopping.  Try downshifting brands and supermarkets, using printable online vouchers, and web comparison services to find the cheaper prices.
  
  External Links: For a full guide to cutting costs read Martin's full Cheap Supermarket Shopping article.
  
  
• Gas & Electricity
  
  The inflation rate here has been phenomenal; prices are up by around 50% this year. Yet now's the perfect time to compare and switch energy providers.
  
  All of the big six suppliers have increased their main tariffs in the last six weeks, which means do a comparison now and it's a level playing field to switch and ditch. The only thing to watch out for is that British Gas's online tariff hasn’t been raised yet so if it comes out cheapest, do factor in that it's likely to increase by 20% to 25% soon.
  
  It's also worth considering capping your tariff at the moment. Industry predictions are rises of 10%-20% next January so if you get a cheap cap now you won’t be hit by next year's hike.
  
  External Links: For a step-by-step guide to cutting costs read Martin’s full Cheap Gas & Electricity plus cashback guide.
  


• Petrol and Diesel Costs
  
  Petrol prices have rocketed this year but you can fight back by using comparison sites to find the cheapest fuel and learn how to drive less aggressively so you speed up gradually. Plus by simply decluttering your car, your fuel will last longer.
  
  External Links: For a step-by-step guide to cutting costs read Martin’s full Petrol Cost Cutting guide.