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Economics

Cost-of-Living Crisis Gets Real in Expensive Day for Britons

  • Energy bills to soar, government aid won’t fully offset rise
  • Bank of England warns that U.K. inflation will top 7%
Updated on

The true scale of the U.K.’s cost-of-living crisis is beginning to dawn on millions of Britons.

Households learned Thursday that their energy bills are going to surge by almost 700 pounds ($950) in April and they are facing the biggest squeeze on incomes in three decades. That put some hard -- and depressing -- numbers on a concern that’s been dominating the economic backdrop for months and undermining the mood among consumers.