Rishi Sunak says he is ‘totally, 100% on it’ in battle against inflation – as it happened

Prime minister says he knows people will be anxious about rate rise but it is going to be OK'. This live blog is closed

• Bank of England raises interest rates by a half point to 5%

Rishi Sunak has posted a thread on Twitter setting out what the government is doing to help people with the cost of living. It starts here.

He ends by saying if we can hold our nerve" he is confident the plan will deliver.