The economic weight continues to pile on for UK consumers this month, as both house and energy prices are expected to soar.
Consultancy Cornwall has warned that energy bills are predicted to hit over £4,200 next year. Despite energy prices steadily rising as a result of Russia slashing eurozone gas supplies, Dr Craig Lowrey, the principal consultant at Cornwall says this increase was “a fresh shock”.
Tomorrow, Britain can expect the RICS House Price Balance data to be released. If the level is above 0%, this suggests a rise in house prices – the current prediction is 61%.
Market watchers will be keeping a close eye on eurozone data this week as Italy, France and Spain will all release inflation figures.
In the US, inflation rates are predicted to reach the highest hike in over 40 years. Data will be released this afternoon.
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