Rising mortgage rates, fuel and grocery prices soaring, national insurance contributions going up and lines growing at charity food banks across Britain.

Add fallout from COVID-19 and Brexit, and economic and policy analysts say the world's fifth-biggest economy faces a deepening cost-of-living crisis, despite measures in the government's new budget aimed at softening the blow.

"Everybody across the income spectrum in the U.K. is going to see increasing costs," said Garry Lemon, policy and research director at the Trussell Trust, which supports more than 1,300 food bank centers across Britain.