Growing threat to finances from rising bills
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There is mounting evidence that consumers are facing hikes to bills on many fronts after Next became the latest to warn of price rises ahead. The homewares to fashion retailer said it was to implement an "unwelcome" 1% rise to prices this year to help it cover off an anticipated £67m rise to its wage bills.
It blamed the changes to employer National Insurance contributions, announced in the budget, that are due to take effect in April. The announcement by the chain, which also sounded caution around the 2025 economy, is the latest evidence of rising cost pressures facing both households and businesses.
Money latest: Do I need to pay five-year old parking fine?. While corporate lobby groups have united behind a core message of price hike threats to offset budget costs, analysis by Sky News has shown there is a threat of bigger than expected hikes to energy bills from April due to low gas storage levels across Europe.
Consumers are also facing inflation-busting rises to water bills and council tax. Higher prices for 2025 as Christmas trading fails to meet expectations - BRC says. UK bills could rise - as Europe's gas consumption falls by 'unprecedented' amount. Money blog: 'I'm being harassed about a private parking fine from five years ago - do I need to pay?'.
