Great Britain facing a year of double-digit inflation as electricity bills rise out saving of millions of households, economists warn.
Ofgem Regulator announced yesterday that energy price cap would rise from 1971 to £3549 per annum year on October 1, with analysts predict a further rise to above £5,000. in January and as much as £7,000 in April.
National Institute of Economic and social studies say that rising Electricity bills to push up inflation from previous expectations of 11.3 percent in October to 12.5%. Economists believe that inflation may remain high until September next year.
• Decade of energy failures
• How to save electricity bills down
It will put pressure on bank of England in
