Britain is facing a year of double-digit inflation as soaring energy bills wipe out the savings of millions of households, economists have warned. The regulator Ofgem announced yesterday that the energy price cap would rise from £1,971 to £3,549 a year on October 1, with analysts forecasting further rises to above £5,000 in January and as much as £7,000 in April. The National Institute of Economic and Social Research said that rising energy bills would push inflation from previous expectations … read more »
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