Overview

• Energy bills have risen by 6.4%, adding £111 annually to the average household under Ofgem’s updated price cap.
• Water bills in England and Wales have surged by an average of 26%, equating to £123 more per year for households, with some regions experiencing even higher increases.
• Council tax has increased by an average of 5% in England, adding £108 annually for Band D properties, with some areas seeing larger hikes.
• Charities warn of rising poverty, homelessness, and food bank reliance as working-age households are projected to be £400 worse off this year due to stagnant benefits and rising costs.
• The National Living Wage has increased by 6.7%, offering some relief with an additional £1,386 annually for full-time workers, but employer National Insurance hikes may dampen wage growth.