Prior to Russia’s invasion of Ukraine in February, Britain only imported four percent of its energy supplies from Russia, says Prof. The economic crisis is partly homemade and partly the result of the war in Ukraine, which has pushed up global energy prices, especially for natural gas. The energy increases will have huge consequences for inflation in the country. The higher cap is intended to enable UK energy suppliers to pay higher wholesale prices for gas on the international market. On Friday, the country’s energy regulator announced a sharp increase in the price cap for housing. From October, the limit will increase to £3,549 ($5,435) per year, or £300 ($450) per month.įees and limits are expected to continue to climb, with some forecasters suggesting it will reach £6,616 ($10,131) by April 2023 – an increase of nearly 300 percent in one year.Įlectricity pylons are seen near Ashford, Britain, in August. In April, energy costs for a domestic household in the UK were capped at an average of £1,971 ($3,018 Cdn) per year. The final blow came Friday morning, when British energy regulator Ofgem confirmed that a ceiling on residential energy bills will soon rise by 80 percent. She said mental health issues make it difficult for her to work and rising prices have made it nearly impossible to buy what she needs from her small steady income. Inflation is “troubling, to be honest,” says Sophie Young, who is in her 50s and lives alone. “I struggle to pay the bills, pay for gas and electricity, and feed my children at the same time.” “School uniforms are a big deal,” she said. Buying a new set would cost £136 (about $200 Cdn), said Lisa Dineen, who has four school-age children who need them. Under a tent, several people leafed through racks of donated school uniforms-shirts, trousers, and blazers. Neil Charlick, who runs the Gillingham Street Angels charity, said: “Lots of people come for stuff people have it so hard.’ (Lauren Sproule/TBEN)