![]() ![]() It is important to state, however, that there will be no government help for most people now - so experts say households are unlikely to save much this winter.Īs we've been reporting, a reduction to the energy price cap has been announced today and will come into force from 1 July. One notable piece of positive news came on Thursday - with confirmation the energy price cap would come down to £2,074, bringing bills down £436 a year for typical households from July. This led to gilt yields (the amount it costs the government to borrow money) rising to levels not seen since the disastrous mini-budget last year - on expectations interest rates would now rise to 5.5% this autumn. This was down to single digits for the first time since August but was higher than economists predicted and, importantly, core inflation - which strips out volatile elements such as energy and food prices - was a worrying 6.8%, which suggests the overall figure will be hard to bring down. The cause was higher than expected inflation figures reported on Wednesday - with prices rising 8.7% in the year to April. On Friday we reported on mortgages being withdrawn from the market and high street rates rising - you can read the story here. We are back with another week of cost of living news, analysis and advice - after a week of significant developments that could impact the time it takes for the UK to emerge from this crisis. ![]()
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