Activists are protesting in London's Parliament Square following the British energy regulator's decision to increase energy prices, which may lead UK households to face a fall in living standards amid what they are calling the 'cost of living crisis'.
The protests come amid record-high inflation in the country, with consumer prices recently rising by 5.4 per cent, as of December 2021. According to British media reports, the 'cost of living crisis' is expected to deepen in April, when national insurance contributions are set to rise by 1.25 percentage points; energy and water bills are also projected to soar.
Most recently, the British energy regulator Ofgem announced that it had increased the energy price cap by a record 54% starting from April. As a result, electricity bills for the 22 million households currently paying £1,277 ($1,730) on average annually will rise to £1,971 ($2,670).
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