1st April 2023
This weekend has been dubbed ‘April The Worst’, as bill increases coincide with rising inflation and food prices hitting an all-time high.
Following close behind will be higher mortgage payments for borrowers shopping for a new deal, plus those with variable loans, after the Bank of England raised borrowing rates to a 14-year high of 4.25%.
“And we are not just talking about those on lower incomes. Even double-income families with above-average earnings will now be drawn into the struggle to afford to live.
“I'd advise anyone who's worried about price rises to start by getting their finances in order. Our free tools at Nous.co can show the impact of the cost-of-living crisis on your household, and help you save money on your bills.
Here’s how the April The Worst price rises will affect the typical family.
Council tax: £99
Council tax is rising by an average of 5.1% for Band D properties in England, which means the average home in that band will pay more than £2,000 annually for the first time. The increase amounts to £99 a year extra for a typical household.
The average water bill will go up by £31 a year, a rise of 7.5%. Customers will pay around £1.23 per day on average.
Broadband and mobile: £142
Customers of many mobile and broadband companies will see price hikes of up to 17.3%. That will work out as £76 on a typical broadband contract and £66 for a mobile contract. This is because providers are allowed to increase their prices mid-contract by the rate of inflation, plus 4%.
The Energy Bill Support Scheme, which was worth £67 a month for six months has ended, leaving the typical household £400 a year worse off, but the Energy Price Guarantee has been maintained for a further three months, avoiding an even steeper hike to bills.
NHS prescriptions: £10.70
Prescriptions go up 30p from £9.35 to £9.65 per item, an increase of 3.21% per medicine, and the cost of an annual prescription prepayment certificate also increases by £3.50 to £111.60 from £108.10. This works out as a £10.70 rise per household. Many people, including children and older adults, get free prescriptions.
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