Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Richard Partington Economics correspondent

Inflation rate for UK’s poorest forecast to hit 14% after price cap rise

A central heating radiator dial
Poorer households spend a larger proportion of their budgets on energy bills and food – the biggest drivers of the steep rises in inflation. Photograph: Andy Rain/EPA

Britain’s poorest households are expected to see their living costs increase by almost twice the rate as the richest in society do when energy bills rise this autumn, leading economists have warned.

The Institute for Fiscal Studies (IFS) said the fresh surge in gas and electricity bills expected in October could lead to average annual inflation rates of as high as 14% for the poorest tenth of households.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.