Millions of Brits are set to be thousands of pounds worse off as the cost of living crisis deepens.
Last month, Energy regulator Ofgem confirmed it was upping its price cap from £1,277 to £1,971 - a 54% increase of £693. Prepayment customers will be the most affected, with an increase of £708 from £1,309 to £2,017.
At the same time the Bank of England raised interest rates from 0.25% to 0.5% - affecting millions of people with a mortgage.
In September 2021, a 1.25 percentage point tax hike was confirmed for April 2022, meaning millions of workers will have to pay up to hundreds of pounds in National Insurance payments.
Sadly, this is just the tip of the iceberg when it comes to price hikes.
The Mirror explains which bills have gone up and what hikes to expect in the coming months.
Energy bills
Ofgem confirmed it will hike its energy price cap from April 1. The price cap sets a limit on the rates a supplier can charge for each unit of gas and electricity you use and is reviewed twice a year.
The reason for the climbing price of energy is down to increased demand and a shortage of supply of wholesale gas after countries started to come out of Covid lockdowns. Soaring prices of wholesale gas - which have quadrupled in the last year - mean suppliers are passing on the cost on to customers.
The economic side effects of Russia's invasion of Ukraine could result in inflationary pressure in the upcoming months.
Your mortgage
Millions of homeowners saw their mortgages increase after the Bank of England hiked interest rates from 0.25% to 0.5%. Whether the interest rate hike affected your mortgage depends on what type of deal you took out.
Those on a tracker mortgage would have been affected as they see their repayments rise and fall in line with the BoE base rate. Standard variable rate (SVR) mortgages, may have seen their rates increase as well, as it would have been down to your lender to decide whether to pass on the increase to its customers.
The interest rate increase means you would pay an extra £384 a year on a £250,000 variable rate mortgage, according to Laura Suter, personal finance expert at AJ Bell.
National Insurance
Millions of workers will be forking out up to hundreds of pounds extra each year in National Insurance payments after a 1.25 percentage point tax hike was confirmed in September 2021.
National Insurance is a tax on earnings, paid by both employed and self-employed workers. You build up contributions during your working life and this then allows you to qualify for the state pension and also certain benefits.
The new rates will come into force from April 2022. For someone earning £30,000 per year, it means you'll be forking out an extra £255 each year from the new tax year.
Council tax
Councils normally set their rates for the next financial year in March - and depending where you live, you could be facing an increase of up to 5%. Chancellor Rishi Sunak announced in the budget that local authorities could hike the rates by up to 3% without having to hold a referendum. They can also add an additional 2% on top of this, which is put toward adult social care.
The average Band D council tax set by local authorities in England for 2021-22 is £1,898 - and just a 4% increase of this would cost an extra £75.92.
You can check your council tax band here.
Petrol prices
Petrol prices have exceeded 150p a litre for the first time, with further rises expected due to Russia's invasion of Ukraine pushing up the cost of fuel worldwide.
On February 27, the average cost of petrol increased to 151.25p, while diesel rose to 154.74p - both record highs according to RAC data.
Running a car
The average price of a second-hand car rose for the 20th month in a row in November, with values now up 28.6% year-on-year jump.
It comes after a global shortage of microchips halted the production of new cars - pushing up the value of second-hand vehicles. The manufacturing hiccup caused several big-name companies - including Jaguar Land Rover and Honda - to temporarily suspend work at their UK plants.
A jump of 28.6% marks a £391 increase in the annual cost of buying a car, reports the Daily Mail.
Car Tax
Vehicle Excise Duty is set to rise in April in line with inflation and will see the cost of owning a petrol or diesel vehicle rise. The amount of VOD you will need to pay depends on how old your car is and how environmentally friendly it is.
Vehicle tax rates can be found here.
Train tickets
Train fares are to rise by 3.8% this month - adding to the price of tickets for commuters going back into the office. Rail minister Chris Heaton-Harris said fares were being capped "in line with inflation" and it would allow further investment in the railways.
A season ticket from London to Woking will rise by £134 - from £3,528 to £3,662. But in Transport Secretary Grant Shapps' Welwyn Hatfield constituency, a season ticket to London will rise from £3,180 to £3,300 - an increase of £153.
Food shop
Supermarket shoppers were warned they face an annual grocery bill rise of around £180, after brand consultant Kantar said inflation was 4.3 per cent in February.
Kantar research showed food prices rose by 3.8 per cent in the four weeks to January 23 - up from 3.5 per cent in December. Sales of savoury snacks, fresh beef and crisps rose the fastest in price in January, while beer, bacon and vitamins all fell. There was strong growth in sales of vegan and low-alcohol products as customers took part in Dry January and Veganuary.
Despite sales falling by 3.7 per cent in the 12 weeks to February 20, Kantar said comparing data with last year is problematic because the country was in lockdown.
Clothing and shoes
The average family could be forking out an extra £51 on clothing and shoes this year. This is based on each household spending £23.40 per week on clothing and shoes and the inflation rate on these items being 4.2%. This is according to the Office for National Statistics.
Phone bills
Mobile phone companies tend to hike prices each year at least in line with inflation - and this year is no exception. In April millions of customers will see their tariffs rise, with O2 and Virgin Mobile increasing their prices by 11.7 per cent and Three by 4.5 per cent.
BT, PlusNet, Shell, TalkTalk and Vodafone will also be hiking their phone, mobile and broadband prices by up to 9.3 per cent.
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