Households could be in for yet another blow following reports that bills could rise by around £6,000 by the end of the year. The average household is expected to pay £6,219 more this December compared to the same month of 2021 as the cost of living crisis continues to grip families, according to the Centre for Economic and Business Research (CEBR).
The main reasons for bills going up are increases in energy bills, food and mortgage costs. CEBR said bills will go up by £4,610 between now and December, The Mirror reports.
The average energy bill could soar by £1,645 within five months to hit £3,616 a year, power experts at Cornwall Insight said last week. And with the Bank of England raising base rates, mortgage costs are rising, too.
