As Ofgem raises its price cap, cost of postage stamps and dental checkups also rises
British consumers are facing a multibillion-pound wave of price rises on Monday, including an increase in energy bills of £117 a year.
The costs amount to an extra £240 on every household’s annual budget, according to the personal finance website money.co.uk, which puts the total cost of the increase at £4.5bn.
Aside from energy, other price increases on 1 April are:
- Average council tax bills, up by as much as 4.5% across the UK, a rise of £75.60 a year.
- Prescription costs, up by 20p to £9 (2.27%).
- The NHS charge payable for a dental checkup, up by £1.10 (5%) to £22.70.
- TV licence costs, up by £4 to £154.50.
Postage stamp prices also went up last week, with first class rising from 67p to 70p and second class up from 58p to 61p.
While prices rises are hitting consumers, there is a consolation for low-paid workers, as the legal minimum wage will rise by 4.9% on Monday from £7.83 to £8.21 an hour. The increase will be worth an extra £690 full time over a year and will affect about 1.6 million people over the age of 25.
In terms of household bills, energy will rise by 10%, or £117 a year, from Monday, when the energy regulator Ofgem’s new higher price cap comes into force. This is will affect about 11m households.