A cost of living crisis will see average households’ bills soar by more than £1,500 a year, experts warn today. Families are now on the cusp of the biggest spending squeeze in nearly a decade as bills and prices rise relentlessly.
Money experts said a ‘perfect storm’ of price and tax hikes could push family finances to the limit across the country.
Energy prices have rocketed this week, leading to suppliers pulling deals and predictions that average households could soon face paying over £400 extra a year on power bills.
A year ago, the best one-year fixed deal on comparison website Energy Helpline was £855 – but last night the cheapest available was more than double that at £1,895.