Gas and electricity bills could be falling faster than expected. The head of the energy regulator Ofgem today said average household bills could drop below the government’s price freeze as soon as this April.
Wages have grown at the fastest rate in more than twenty years, but are still failing to keep place with inflation, according to new data from the Office for National Statistics which also showed unemployment creeping up slightly.
There’s been a larger than expected drop in the rate of inflation, raising hopes that the relentless squeeze on people’s living standards has at last peaked.
New figures from the ONS show that the number of days being lost to strikes has jumped to the highest level in more than a decade – with workers seeing their take-home pay squeezed by rampant inflation.
As temperatures drop, attention switches to Britain’s energy system.
Solar power is set to overtake coal power worldwide in the next five years, according to the International Energy Agency. Today it predicted the world will add as much renewable power in the next five years as it did in the previous 20.
The cost of living crisis is affecting millions across the country. According to the charity National Energy Action, over eight million households in the UK will be in fuel poverty by next April. That’s an increase of nearly 90% from last year and means one in three households will be paying a disproportionate amount of…
The international economic thinktank, the OECD, has warned that the UK will have the lowest growth among the big group of seven industrial countries next year.
Jeremy Hunt cast today’s Autumn Statement as a plan to rebuild the economy.
The Chancellor, Jeremy Hunt, blamed high inflation on the war in Ukraine and the aftermath of the pandemic.
As the economy heads towards a recession, interest rates are going up and the government is expected to squeeze the public finances in its Autumn Statement – due out next Thursday.
Is it inevitable that the economy descends into a protracted recession?
A key factor fuelling the cost of living crisis is the price of oil and gas.
The government’s plans for tax and spending will now be unveiled two and a half weeks later than expected.
The pound and bond prices took the announcement from Liz Truss in their stride.