Topic
cost of living
Commodities Guernsey Energy Prices Rise by 19% in a Year - Report
Energy prices in Guernsey rose 19% over the year ending June 2026, the highest among all categories, pushing overall RPI inflation to 4.3%. Retired households saw a 5.2% increase in their cost of living, according to a new report.
Business UK Inflation Holds at 2.6% as Bank of England Weighs Rate Path Amid Fuel and Food Price Shifts
UK inflation declined to 2.6% in the year to June 2026, slightly below expectations, driven by cheaper fuel and falling food prices. The Bank of England, with its base rate at 3.75%, faces a delicate balance as inflation remains above the 2% target and is expected to rise again. Businesses should monitor rate decisions that affect borrowing costs and investment.
Business Record 7.4m UK households struggle to afford essentials as cost-of-living crisis deepens
A record 7.4 million low-income households in the UK are struggling to afford essentials such as food, heating and clothing, according to anti-poverty charity Joseph Rowntree Foundation (JRF). Prime Minister Andy Burnham has pledged to cut VAT on electricity bills from October, but charities are calling for further measures.
UK Household Energy Bills to Rise 13.5% as Wholesale Costs Driven by Iran Conflict
UK household energy bills will rise 13.5% from July 1, adding £221 to annual costs, driven by higher wholesale prices linked to the conflict in Iran. Ofgem's cap adjustment reflects these costs, with bills now 79% above pre-crisis levels.
Business Food price surge inflates school holiday costs for families amid stalled government support
The cost of school holidays is rising for families on low incomes as food prices continue to climb, despite UK food inflation slowing. A new bill in Northern Ireland aims to restore holiday food payments for 90,000 children eligible for free school meals, after the previous scheme was axed in 2023.
Budget Energy to Raise Northern Ireland Residential Electricity Prices by 9.5% from August
Budget Energy, a Northern Ireland electricity supplier, will increase residential variable tariff prices by 9.5% from 4 August. The company blames continued wholesale energy market volatility and geopolitical tensions. Customers on fixed-price tariffs are exempt. This follows similar increases by SSE Airtricity and Power NI.
Commodities Geopolitical Tensions Drive Wholesale Energy Costs, Ofgem Price Cap Rises 13%
The UK's energy price cap rose 13% from 1 July 2025, driven by higher wholesale oil and gas costs linked to the US-Israel war with Iran. Ofgem's new cap sets gas at 7.33p/kWh and electricity at 26.11p/kWh for direct debit customers. The regulator also revised typical household consumption estimates downward, reflecting demand reduction.
Business UK Inflation Holds at 2.8% in May, Defying Expectations of Rise to 3%
UK inflation held at 2.8% in the year to May, unchanged from April and above the Bank of England's 2% target, surprising economists who had forecast a rise to 3%. A sharp fall in food inflation and the reduction in the government's energy price cap counteracted upward pressure from the Middle East conflict, while the recent peace agreement between the US and Iran has lowered oil prices, potentially keeping inflation below worst-case scenarios. Core inflation edged up to 2.6%, and analysts warn that the next energy price cap increase in July could push prices higher.
Commodities Brent Crude Falls to $83 on US-Iran Deal, UK Petrol Prices Set to Drop Further
Brent crude oil prices have fallen to around $83 a barrel following a US-Iran framework deal that ended the war and raised hopes for reopening the Strait of Hormuz. UK petrol prices, which peaked at 159.53p on 28 May during the conflict, have started declining, with the RAC forecasting a further drop to 148p if oil stabilises around $85. The article details the impact of the war on global oil flows and UK retail fuel costs.
Technology Andrew Yang: Next Big Startup Opportunity Is Lowering Cost of Living
Entrepreneur and former presidential candidate Andrew Yang believes the next wave of startup opportunity lies in lowering the cost of living. Inspired by Mark Cuban's Cost Plus Drugs, Yang launched Noble Mobile, a mobile virtual network operator that gives customers money back for unused data. He argues that as AI displaces jobs, meeting basic needs less expensively is a rich vein of opportunity, though investors remain skeptical.
Business Boston Church Increases Free Meals Amid Rising Living Costs
The Centenary Methodist Church in Boston, Lincolnshire, has increased its free meal services by 50% due to rising living costs. This initiative supports the local community struggling with inflation and high utility bills.