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Starting from October, for the first time in the history of the kingdom.. Energy prices in Britain increase by 80%

Starting from October, for the first time in the history of the kingdom.. Energy prices in Britain increase by 80%

By م.زهير الشاعر

Published: August 27, 2022

The energy price cap in the United Kingdom rises by 80 percent, starting from next October, which will lead to an increase in inflation.

This also comes amid the cost of living crisis in the United Kingdom, and pressure on the government to act, in light of an election race within the Conservative Party to succeed Boris Johnson as head of government.

The British energy regulator "Ofgem" announced on Friday that the cap will rise from £1,971 annually for an average household to £3,549.

The reason was attributed to the rise in global gas prices, especially since the war in Ukraine.

It was hard to imagine on February 24, the date the Russian war on Ukraine began, that two countries accounting for only 2 percent of global GDP and trade, according to the Organisation for Economic Co-operation and Development, would plunge the planet into a recession.

Ukraine and Russia are major sources of grains and energy, and the war has led to a significant rise in prices globally and increased inflation rates.

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