According to economists at the IFS increases in gas and electricity prices disproportionately hit poorer families (Danny Lawson/PA)
(Picture: PA Wire)Poorer households may face an eye watering inflation rate of 14 per cent, the influential Institute for Fiscal Studies has said, after the boss of energy regulator Ofgem warned bills will soar even higher this autumn.
Ofgem chief executive Jonathan Brearley told MPs on the Business, Energy and Industrial Strategy Committee on Tuesday that the default energy tariff cap could rise to around £2,800 in October. The £800 increase comes on top of an April increase on average unfixed tariffs from £1277 to £1971 - a rise of 54 per cent.
