Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Soaring energy bills set to push inflation to 16-year high

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Becky Barrow
UK Daily Mail

Saturday, Aug 2, 2008

Soaring energy bills could push inflation to a 16-year high of five per cent next month, experts warned tonight.

At this level, it will be more than double the Government’s two per cent target, which could force the Bank of England into raising interest rates.

Economists blame the imminent inflation hike on the latest round of massive rises in families’ fuel bills.

(Article continues below)

On Wednesday, British Gas sent shockwaves with its announcement of a record 35 per cent increase in gas bills.

It is the second time the energy giant, which has 16million customers, has hiked its gas prices at an inflation-busting rate this year.

In January, it was slammed for increasing its gas prices during the depths of winter by 15 per cent with immediate effect.

  • A d v e r t i s e m e n t

Philip Shaw, chief economist at Investec Bank, said he predicts CPI (consumer price index) will hit five per cent in September.

His forecast assumes that the other big energy giants will follow British Gas with price hikes in the next few weeks.

EDF Energy was the first to raise its prices followed by British Gas and their rivals are almost guaranteed to follow their lead.

Mr Shaw estimates price hikes will average 20 per cent in gas, possibly even more, and 16 per cent in electricity.

Full article here

This article was posted: Saturday, August 2, 2008 at 6:47 am

Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

The Truth About Soy Boys See the rest on the Alex Jones YouTube channel.

The Truth About the Sex Abuse Scandal See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/FTSvLKY7HEk https://www.youtube.com/embed/BjUnC7-PDWI

© 2017 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.