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1st April 2022 - Predictions of Q2 contraction begin
"Today sees the price pressures on UK consumers rise significantly as energy prices, National insurance contributions, water costs, Council Tax, postage and broadband charges all set to rise.
The average household energy bill will increase by around £700 a year with another increase in the energy cap, the most that energy suppliers can charge consumers, set to rise again in October. Today’s rise in the energy cap is set at 54%.
In addition, the conflict in Ukraine is adding to the cost of basic food supplies.
The first quarter of 2022 has ended, with the economy having grown as the effects of the Pandemic have waned, but infections are at a high, but less serious level.
The Bank of England’s actions to stave off inflation will see interest rates rise to 1.50% by the summer, with banks charging more for mortgages.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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By CurrencyTransfer
5
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"Today sees the price pressures on UK consumers rise significantly as energy prices, National insurance contributions, water costs, Council Tax, postage and broadband charges all set to rise.
The average household energy bill will increase by around £700 a year with another increase in the energy cap, the most that energy suppliers can charge consumers, set to rise again in October. Today’s rise in the energy cap is set at 54%.
In addition, the conflict in Ukraine is adding to the cost of basic food supplies.
The first quarter of 2022 has ended, with the economy having grown as the effects of the Pandemic have waned, but infections are at a high, but less serious level.
The Bank of England’s actions to stave off inflation will see interest rates rise to 1.50% by the summer, with banks charging more for mortgages.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.