UK inflation has now reached double-digits as the latest data from the ONS shows that consumer prices rose by 10.1% in the year through September. Food prices and the energy crisis have been the largest drivers for this increase, squeezing household budgets, with the rate of inflation running sharply ahead of wage growth.

Depending on how the government’s energy price guarantee is structured beyond April next year, inflation could be 2-3% higher for much of 2023 if consumers return to the Ofgem-regulated price for electricity and gas.

Mark Sait of SaveMoneyCutCarbon discusses how a change in our behaviour and how we interact with our energy is the most effective way to reduce our outgoings:

“The sudden price hikes are a huge concern for us as a country, and with Winter fast approaching, it’s good to start thinking about the ways we can reduce our energy bills, especially in the colder months.

We recently conducted research which found that 40% of Brits are seriously concerned about the rise in energy bills, but haven’t changed their behaviour as a result because they don’t know how. This is not to say we have run out of hope. We simply need to alter how we use energy, and what we are using within our homes and businesses.”

“For example, let’s take the standard 60-watt light bulb common across millions of UK households. If this is on 10 hours per day in your home or business at an average of 11p electricity charge per unit, running one such lamp in your home will cost you 23 pounds per year”.