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As we go into winter, many people are worried about their bills increasing. Energy costs went up 13% in July and it has just been announced that they will rise by another 3.6% in October hitting a 3 year high at an average of £600 per year above levels before the cost of living crisis started. The temporary VAT relief on electricity should help a bit. However, forecasters are reported by the BBC to be estimating another 9% rise in the energy cap in January. General inflation is just below 3% but pressure on fuel and food costs are higher. All this means that the cost of living crisis continues to bite. So we will have some busy autumn and winter months ahead.
Extract from CAP News