UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
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Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#2Summary of the FT article:
- Investment bank Citigroup forecasts UK inflation will hit 18.6 per cent in January 2023 — the highest peak in almost half a century — because of soaring wholesale gas prices.
- The bank predicted that the country’s retail energy price cap — which limits how much the average household pays for heating and electricity — would be raised to £4,567 in January and then £5,816 in April (approx $6880, €6850) compared with the current level of £1,971 a year. It added that the shifts would lead to inflation “entering the stratosphere”.
- UK and European wholesale natural gas prices are already trading at close to 10 times normal levels and other forecasters have also raised their inflation predictions.
- The energy regulator Ofgem will on Friday (26 Aug) announce the energy price cap for the period between October and January, which most analysts expect to rise to more than £3,500 for a household with average usage of energy — an increase of 75 per cent on current levels.
Related article from Reuters: Europe's efforts to shield households from soaring energy costs https://www.reuters.com/business/energy/europes-efforts-shie...
Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#3A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.
Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#4A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.
On top of that, we have a zombie goverment with no solutions or urgency to tackle the cost-of-living crisis.
Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#5https://www.cnbc.com/2022/08/22/citi-projects-uk-inflation-t...
(alternate link)
Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#6A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.
On top of that, we have a zombie goverment with no solutions or urgency to tackle the cost-of-living crisis.
And our political system basically guarantees the same people will be in charge until Jan 2025?! 2015 me would never have believed how rapidly things could fall apart.
Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#7“ It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grams a week. And only yesterday […] it had been announced that the ration was to be reduced to twenty grams a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it. [...] The eyeless crature at the other table swallowed it fanatically. passionately, with a furious desire to track down, denounce, and vaporize anyone who should suggest that last week the ration had been thirty grams. Syme, too-in some more double complex way, involving doublethink-Syme, swallow it. Was he, then, alone in the possession of a memory?”
George Orwell, 1984.
Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#8A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.
On top of that, we have a zombie goverment with no solutions or urgency to tackle the cost-of-living crisis.
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Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#9We have a corrupt government and media that itch each others back. There's still a complete lack of urgency.
A potential new prime minister trying to defend profits of energy companies recently on TV just shows you the Modus operandi of the political class.
It might push people to riots in the streets.
Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000
#10A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.
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