Arab Canada News
News
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.
US politics, Canada’s multiculturalism, South America’s geopolitical rise—we bring you the stories that matter.
By signing up, you agree to our Privacy Policy
French President Emmanuel Macron confirmed on Sunday from Rome that "peace is possible" in Uk...
23 October 2022Two former Minneapolis police officers charged in the death of George Floyd are heading to t...
23 October 2022Chinese President Xi Jinping confirmed his complete control over the Chinese Communist Party on...
22 October 2022The successful Netflix series "Monster: The Jeffrey Dahmer Story" has sparked renewed intere...
22 October 2022The authorities said that a small plane collided with a building in New Hampshire, resulting...
22 October 2022Kyiv, Ukraine - Russian authorities ordered all residents of the southern Ukrainian city of Kherson...
22 October 2022Tuesday, 01 July 2025
--°C
--°C
Comments