Update: Centrica UK Energy Hikes Could Boost CPI To 5% By Sept Jul 30 / 09:59
LONDON (MNI) - Centrica has hiked its household gas tariffs by 35%
effective immediately in a move that will boost UK inflation.
The move had been expected but was well ahead of the +20 to +25%
range pencilled in by analysts. The move is likely to further boost UK
inflation in coming months, although the increase comes too late to
impact on the July Consumer Price Index, which is due to be released in
2 weeks time.
The move is likely to lead to an earlier-than-expected peak in UK
inflation and push CPI to around 5% as early as September. It will also
push UK CPI well above 4% in the August Inflation report.
Centrica - which owns British Gas - also hiked its electricity
prices by 9%.
LONDON (MNI) - Centrica has hiked its household gas tariffs by 35%
effective immediately in a move that will boost UK inflation.
The move had been expected but was well ahead of the +20 to +25%
range pencilled in by analysts. The move is likely to further boost UK
inflation in coming months, although the increase comes too late to
impact on the July Consumer Price Index, which is due to be released in
2 weeks time.
The move is likely to lead to an earlier-than-expected peak in UK
inflation and push CPI to around 5% as early as September. It will also
push UK CPI well above 4% in the August Inflation report.
Centrica - which owns British Gas - also hiked its electricity
prices by 9%.
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