Households are facing an onslaught of price hikes that could leave the average family hundreds of pounds a year worse off. From April 1, millions of people will face increases to their Council Tax, broadband, mobile and water bills.
Matthew Upton, director of policy at Citizens Advice, said: “Millions of people will now have to stomach inflation-busting price hikes on their mobile and broadband contracts, totalling an average of £90 more a year. We called on these firms to support their customers during this uniquely challenging time, but they didn’t listen. Instead, they’re pushing ahead with these mid-contract price rises.
Top Money Stories Today Household finances app Nous.co has calculated that a typical family will be £682.70 a year worse off as a result of the increases. Following close behind the increases will be higher mortgage payments for borrowers shopping for a new deal as well as those with variable loans after the Bank of England raised borrowing rates to a 14-year high of 4.25 per cent.
Latest Cost Of Living News “As this new wave of price hikes take effect, now more than ever it’s critical that the Government and essential businesses - such as telecoms firms, energy companies and supermarkets - do everything they can to support consumers and provide clear information on what support is available.”
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Source: MENnewsdesk - 🏆 23. / 69 Read more »