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Rolling coverage of the latest economic and financial news
Household energy bills in Great Britain are predicted to soar by £276 a year for the typical household from January as the impact of the Middle East war continues through the coldest months of winter.
The government’s cap on energy prices is poised to jump by 16% to the equivalent of £1,999 for the average annual dual-fuel bill in a further blow to struggling households, according to figures from the leading forecaster Cornwall Insight.
“Consumer spending growth remained at the previous estimate of 0.3%, but business investment growth was revised up to 1.8%. That offers at least some evidence that the UK may be starting to catch the AI-driven investment wave very visible in the US.”
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