Martin Lewis: Inflation rates and your energy bills.
New data has shown a sharp fall in UK inflation, or the rate at which prices are rising. This was 4.6% in the 12 months to October - the lowest figure for nearly two years.
The government says this means it has met this year's pledge to halve inflation - which stood at 10.7% at the end of 2022.
Speaking to 鶹 Radio 5 Live, Martin Lewis says “There’s one thing not being said about today’s 4.6% October figure.”
He adds that “This time last year all homes received a reduction from the government, that they aren’t receiving this year ,that’s excluded from inflation figures”
Martin Lewis explains: “So on paper, people's energy bills have dropped, substantially from this time last year to right now”
“But in practical terms of the amount people pay, people are not feeling that energy price benefit because they're not getting the government energy support.”
This clip was originally from Nihal Arthanayake 14 November 2023.
Listen back on 鶹 Sounds.
Duration:
This clip is from
More clips from The Martin Lewis Podcast
-
Martin Lewis: Ofgem boss quizzed on standing charges
Duration: 02:58
-
Martin Lewis on children’s taxation
Duration: 01:49
-
Martin Lewis on Black Friday broadband deals
Duration: 01:00
-
Martin Lewis meets man duped by deepfake ad using his face
Duration: 01:21