3 Feb 2022

Warning UK faces worst cost of living crisis in generation

Economics Correspondent

It’s the worst squeeze on incomes since records began 30 years ago: a double whammy of soaring energy bills and rocketing inflation.

Millions of households across England, Scotland and Wales will see their annual energy bill rise by almost £700 in April – as the Bank of England warned that by then inflation could be as high as 7.35%.

The chancellor has announced some measures to cushion the blow – but the Resolution Foundation think tank says that even taking that into account – another 2.5 million families will now be plunged into fuel stress.