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Energy UK has estimated that domestic clients would endure a 56% increase from April, when the value cap – at present holding payments back – is next adjusted. The British Chambers of Commerce stated there was already strong proof of an economic slowdown within the final quarter of 2021 earlier than the Bank of England raised rates of interest in December to fight rising inflation expectations. A business group has warned of the impression of an “unprecedented” surge in inflation on its membership, however said companies are wary of one other rise in interest rates for fear it might knock the continuing COVID recovery.

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