As the cost of living in the UK continues to climb at its fastest rate in decades, the price of a number of everyday items and necessities have also been rising.
While inflation soared to 5.4% – the highest rate since 1992 – last month, the price cap for energy bills is also expected to rise by an estimated 46-56% in April.
Experts have warned that the cost of living will only get higher in the coming months in what has been dubbed a ‘national crisis’, and have urged the government to act ‘immediately’.
But what exactly will be getting more expensive and why?
Here’s everything you need to know:
Energy bills
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Perhaps the most talked about aspect of the whole crisis is the looming cost of energy bills, which are expected to soar by over 50% in April, adding as much as £600 to the annual cost of the average UK household.
Provider Octopus Energy states that the reason for the price rise is down to the cost of energy being bought on the global markets being three times higher than it was a year ago. Major economies such as the US, China, Europe and India are all believed to be impacted by this price rise.
Read More: Energy bills could rise by 50% unless government intervenes, industry warns
Money Saving Expert founder Martin Lewis has called upon the government to ‘act now’, saying the looming energy crisis will force millions of households to choose between ‘freezing or starving’.
To combat the rising costs, Lewis has recommended getting a fixed tariff that is no more than 40% above the price cap, improving home insulation, using a smart meter and exploring benefit options if you’re struggling to pay your bills.
Food and clothing
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Supply issues caused by Brexit and the Covid pandemic have resulted in massive price increases for food, groceries and clothing.
A recent Twitter thread by campaigner Jack Monroe highlighted the cost hike in a number of common supermarket items such as a bag of rice, which cost 45p for kilogram bag last year. Today it’s £1 for 500g, a 344% price increase. Monroe also pointed out that a loaf of bread, which once cost 45p, now costs 58p, which is a price increase of 29%.
The ONS has confirmed that food and drink prices lifted by 4.2% year on year in December, while clothes shops also put up prices by an average 4.2%.
Alternatively, retailer Next warned that prices will rise by as much as 6% by next autumn and winter, while online retailer ASOS said it had increased prices in the ‘low to mid-single digit’ range.
Train Tickets
While the cost of rail travel has been steadily increasing for the last decade, they’re expected to become even more costly from March 1st, when ticket prices in England will increase by as much as 3.8% – the steepest increase since January 2013.
Increases are normally implemented on the first working day of every year, but have been delayed due to the Covid pandemic.
Read More: Andy Burnham calls out ridiculous price of 15 minute train journey from Manchester
Demand for rail travel is also more than 40% below pre-Covid levels.
Greater Manchester Mayor Andy Burnham has previously called out the rising cost of train journeys in the North, with him last year proposing a set-fare system that would have ‘the potential to elevate’ millions of Northern residents.
Phone and broadband bills
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Thanks to an increase in data usage during the pandemic, the cost of phone and broadband bills are also expected to increase in the coming months.
Provider BT announced a price hike of more than 9% from the end of March for most customers, with those affected paying an extra £3.50 a month – or £42 annually – on average for their phone and broadband bills.
Working from home, online education and increased TV streaming have all increased demands on the company’s network, with a 90% rise in broadband usage since 2018, and a 79% increase on mobile phones since 2019, the company said.