Rishi Sunak has said he will keep more measures to ease the cost of living crisis under review after he was accused of doing too little to help families struggling to pay their bills.

       The Chancellor of the Exchequer, who on Wednesday announced an increase to National Insurance repayment thresholds and a 5p cut in fuel duty, suggested the Government could go further before the energy price cap is reviewed by Ofgem in October.

       Energy bills are already set to increase next month when the price cap rises by almost ￡700 - an increase of 54 per cent.

       Treasury sources have indicated that ministers will do little else to ease the cost of living before the October review, amid concerns that further measures will place too great a burden on taxpayers or increase government borrowing.

       The Office for Budget responsibility said on Thursday that it expected energy bills to increase again by at least 40 per cent, helping to push inflation over 8 per cent for the year.

       Speaking on BBC Radio 4’s Today programme on Thursday, Mr Sunak hinted at more measures as the cost of living crisis bites.

       “I’ve always been honest - these are global challenges that we face,” he said.

       “We’re not alone in experiencing them, and I can’t, I wish I could - and it’s the hardest part about this job not being able to do everything that people would like you to do - but I can’t make every problem go away.

       “But where we can make a difference we want to, and that’s what yesterday was about.”

       Economic experts said that Mr Sunak had done too little to cushion the rate of inflation, as one said his “policies do not measure up to the rhetoric”.

       Torsten Bell, chief executive of the Resolution Foundation, said he “has prioritised rebuilding his tax-cutting credentials over supporting the low-to-middle income households who will be hardest hit from the surging cost of living”.

       His comments come after Boris Johnson said the cost of living was “the single biggest thing we’re having to fix”, and the OBR warned living standards face their biggest fall in a single year since records began in the mid-1950s.